Answer:
Minimum selling price = $162.5
Explanation:
Cost price = $125
They planned to sell it for $200
They want to make 30% of their cost price
This means that even if they do not sell it for $200, they have to sell it at a price that gives them a profit of 30% of their cost price
30% of their cost price = (30/100) x $125
30% of their cost price = 0.3 x 125 = $37.5
Minimum selling price = Cost price + Minimum profit
Minimum selling price = $125 + $37.5
Minimum selling price = $162.5
