A buyer purchased 6 baseball hats for $76.50. The hats will be sold in his retail store for profit .If he plans to price each hat to make 40% profit,what should be the selling price of each hat.

the selling price of each hat should be $17.85,
first step is to divide the total price of all the hats by 6 76.5/6=12.75
then take the price of each individual hat and multiply it by 40 percent 12.75x0.4=5.1
then add 5.1 to individual hat price 5.1+12.75=17.85