I need the answer to this! (math)

Question

Angelica's service club is selling flowers for a fundraiser. Each flower costs them $0.50 to purchase. They set the sale price of each flower at the purchase price plus 40%. Write and solve an equation to determine how many flowers they will need to sell to make a profit of $500. Use complete sentences to explain what each number and variable in your equation represents. Write your solution in the context of the original problem.

Answer 1

cost per flower is $0.50

the markup is 40% of $0.50 which is 0.4*$0.50=$0.20

the sale price is $0.50+$0.20=$0.70

x=how many flowers they have to sell

the sale price minus the cost equals the profit

$0.70x-$0.50x=$500

0.20x=500

2x=5000

x=5000/2

x=2500 flowers have to be sold

2500*$0.70=$1750 in sales

2500*$0.50=$1250 in cost

$1750-$1250=$500 profit

 

 

 

Answer 2

Hello Zach, 

 

Let me start defining the word profit.  Profit is the amount that you get to keep after you pay all your expenses.  In this case the only expense that the club has is the cost of each flower.

 

The problem states that they set the price at the purchase price (.50 cents) plus 40%. So, the sold the flower at 140% of its purchase price! which is 0.70 cents, which is (.50) (1.40).

Setting the problem up

Let p  represent the profits the club made.

Let f   represent the number of flowers the club sold.

Let .7f  represent the price the club charge for each flower.

Let .5f  represent the price the club bought the flowers for.

 

Following the definition of profit the p= .7f - .5f

Here is the equation

P= .7f - .5 f            Combining like terms and plugging 600 for p.

500 = .2 f               Dividing both sides by .f

2,500 =f

So, the club sold 2,500 flowers.

 

Hope this helps.

 

D.Y. Taylor

dont forget to rate me, :)