### Home > ACC7 > Chapter cc29 > Lesson cc29.1.3 > Problem 9-48

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? Homework Help ✎

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