Profit Items
A florist buys roses at $5.00 apiece and sells them for $17.00 apiece. If there are no other expenses, how many roses must be sold in order to make a profit of $240.00?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 = $17.00 - $5.00m = $12.00
Therefore, our profit margin on each rose is $12.00, and our profit target is $240.00
We need to determine the number of roses we need to sell (n), so we setup an equation
12 x n = 240
Divide each side of the equation by 12 to isolate n
| 12 x n | |
| 12 |
| = |
| 240 |
| 12 |
Cancel 12 from both sides
| n = | 240 |
| 12 |
n = 20
