Profit Items
A florist buys roses at $7.00 apiece and sells them for $27.00 apiece. If there are no other expenses, how many roses must be sold in order to make a profit of $400.00?Answer
For problems like this, we first need to determine a profit margin per rose (m) denoted below:
m = S - C where S = Sale Price and C = Cost
Plugging in our numbers and solving for m, we get:
m = $27.00 - $7.00m = $20.00
Therefore, our profit margin on each rose is $20.00, and our profit target is $400.00
We need to determine the number of roses we need to sell (n), so we setup an equation
20 x n = 400
Divide each side of the equation by 20 to isolate n
| 20 x n | |
| 20 |
| = |
| 400 |
| 20 |
Cancel 20 from both sides
| n = | 400 |
| 20 |
n = 20
