### Home > ACC7 > Chapter 9 Unit 6 > Lesson CC2: 9.1.3 > Problem9-48

9-48.

Leonard has purchased packages of grid paper for $\2.25$. If he wants to make a $40\%$ profit on each package he sells to his classmates, by how much should he increase the price? What will the new price be?

If Leonard wants to make a $40\%$ profit on each package, he needs to sell each package at $140\%$ of the original cost.

Since the new price is $140\%$ of the original cost, $\2.25$, how much is the increase and what would the new price be?

Increase: $\0.90$
New Price: $\3.15$