7. Bob buys T-Shirts for \( \$ 6 \) each and marks up the price by \( 45 \% \). How much profit does Bob make from each T-shirt sold? Bob makes \( \$ \quad \) profit on each t-shirt sold.

To find out how much Bob makes in profit from each t-shirt, first, we need to calculate the marked-up price. Bob marks up the price by \( 45\% \) of \( \$6 \), which is \( \$2.70 \) (since \( 0.45 \times 6 = 2.70 \)). So, the selling price of each t-shirt is \( \$6 + \$2.70 = \$8.70 \). Therefore, Bob makes a profit of \( \$2.70 \) on each t-shirt sold, which is the difference between the selling price and the cost price. When it comes to starting a small clothing business, understanding profit margins can be crucial. A strategy like Bob's can be beneficial, but it's equally important to keep an eye on other expenses such as shipping, marketing, and platform fees. Accumulating costs can eat into that seemingly nice profit if one isn’t careful! Adjusting your pricing or finding suppliers who offer better deals can help maximize profits significantly.