Susan makes and sells purses. The purses cost her $15 each to make, and she sells them for $30 each. This Saturday, she is renting a booth at a craft fair for $50. Write an equation that can be used to find the number of purses Susan must sell to make a profit of $295
Set up the cost function C(p) where p is the number of purses:
C(p) = Cost per purse * p + Booth Rental
C(p) = 15p + 50
Set up the revenue function R(p) where p is the number of purses:
R(p) = Sale price * p
R(p) = 30p
Set up the profit function which is R(p) - C(p) equal to 295
30p - (15p + 50) = 295
To solve this equation, we type it into our search engine and we get:
p = 23
Set up the cost function C(p) where p is the number of purses:
C(p) = Cost per purse * p + Booth Rental
C(p) = 15p + 50
Set up the revenue function R(p) where p is the number of purses:
R(p) = Sale price * p
R(p) = 30p
Set up the profit function which is R(p) - C(p) equal to 295
30p - (15p + 50) = 295
To solve this equation, we type it into our search engine and we get:
p = 23