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?
New Price: $3.15