5. the spirit club buys shirts for $8 each. the club marks up the price of the shirts by 75% to sell them in…

5. the spirit club buys shirts for $8 each. the club marks up the price of the shirts by 75% to sell them in the school store. for the last week of the school year, the club sells the shirts for 25% off. how much profit does the spirit club make on each shirt sold in the last week of the school year? show your work. (3 points)

5. the spirit club buys shirts for $8 each. the club marks up the price of the shirts by 75% to sell them in the school store. for the last week of the school year, the club sells the shirts for 25% off. how much profit does the spirit club make on each shirt sold in the last week of the school year? show your work. (3 points)

Answer

Explanation:

Step1: Calculate the marked - up price

The cost of each shirt is $C = 8$. The markup percentage is $75%=0.75$. The marked - up price $P_1$ is calculated by $P_1=(1 + 0.75)\times8$. $P_1=1.75\times8 = 14$.

Step2: Calculate the discounted price

The discount percentage for the last week of the school year is $25% = 0.25$. The discounted price $P_2$ is calculated by $P_2=(1 - 0.25)\times P_1$. $P_2 = 0.75\times14=10.5$.

Step3: Calculate the profit

The profit $Profit$ is the difference between the selling price and the cost price. So $Profit=P_2 - C$. $Profit = 10.5-8=2.5$.

Answer:

$2.5$