It is given that an item used to be sold for $3.70 per pound.
It is required to find the current price per pound if the price was increased by 20%.
A 20% increase in the price, $3.70 is calculated as:
[tex]\frac{100+20}{100}\cdot3.70=\frac{120}{100}\cdot3.70=4.44[/tex]Hence, the current price of the item is $4.44 per pound.
The current price of the item is $4.44 per pound.
