Answer to Question #56857 in Economics for Hossam Aamer

Question

Hi,
I've got a question and I don't know where it falls as for a category.

My mom's starting a small cooking project. Only cooking - no to-here service, none of these restaurant setting whatsoever. She'll serve only one dish which consists of the following:
1/2 kgms of rice for 12 LE,
1 chicken for 30 LE,
Oil, onion, and other of 7 LE.

Now that the cost is 49 LE, for how much should she sell?

Looking forwards to your reply.
-Hossam Aamer

Answer 1

According to the international practice, normal added value is 30%.
So that the final price of the dish can be:
Price=49+(49*0.3)=63.7 LE