Math Problem on Averages

Question

Kenny paid $1400 for 280 shirts. He sold 240 of them at an average of $8 each. If he made a

total profit of $800, what was the average price at which he sold the rest of the shirts?

 

 

Yvonne bought 20 bouquets of 25 flowers for $20 per bouquet. She sold 3

4 of them for $3.00 apiece, and she sold the rest for $2.00 apiece. Find her average profit for all the flowers.

 

Answer 1

Cost per shirt: $1,400 / 240 = $5

 

240 * $8 = $1,920

240 $ 5 = $1,200

Gross profit = $720

 

Total profit = $800

Less profit on 240 shirts: -720

Profit on remaining 40 shirts = $80

Therefore profit is $2 per shirt so he sold them for $7 each

 

Second problem: Did she sell 3 or 4 at $3 each? Or is that 34 individual flowers? Total flowers: 20 * 25 = 500 flowers Sales: 34 * $3 = $102 Sales: 466 * 2 = 932 Total sales: 1,034 Total cost: 20 * $20 = 400 Gross profit . - - - $634