The cost of all 48 cupcakes = 48 * 0.55 = $26.40, so if 3/8 of them were vanilla, then the cost of the vanilla cupcakes would be 3/8 * (26.40) = $9.90
Alternatively:
If 3/8 of the cupcakes were vanilla, then 3/8 (48) = 18 cupcakes were vanilla
18 * 0.55 = $9.90 is the cost of the vanilla cupcakes