POSSIB Joey has 10 pairs of socks in his drawer. Four of them are white. What percent of colored socks does Joey have?
20%
40%
60%
80%

% of Socks are Colored

Step-by-step explanation:

You have 10 socks in total and 4 non colored socks. 4 non colored is 40% of socks. So the 60% left over are colored.

$1 to make
price is $2.50
This is a 250% increase.

If it costs $1.25 to make...
250% of $1.25 = $1.25 × 2.50 = $3.125 for the new price if we want to keep that 250% increase. Since there is no half cent, we round up to $3.13.

To maintain the gross margin percentage, we would have to up the unit selling price 63¢ to $3.13.