Question

I need help, no answers just help!

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.

How would i start this problem?

Answer 1

what is the purchase price

Answer 2

$0.50 per flower plus 40%

Answer 3

that's the sale price

Answer 4

it costs them $0.50 to buy each flower

they then turn around and sell each flower at $0.50 + 40% of $0.50 = 0.50 + 0.4*0.5 = 0.70 dollars

Answer 5

so if they buy x flowers it will cost them a total of 0.50x dollars

let's make C the cost function, so C = 0.50x

Answer 6

and if they sell all x flowers bought at $0.70, then the revenue function is

R = 0.70x

Answer 7

with me so far?

Answer 8

yes

Answer 9

the profit, call it P, is equal to the difference of the revenue and cost

Profit = Revenue - Cost

P = R - C

P = 0.70x - 0.50x

P = (0.70 - 0.50)x

P = (0.20)x

P = 0.20x

Answer 10

so if you buy and sell x flowers, then your profit is 0.20x dollars

Answer 11

you want the profit to be $500, which means

P = 0.20x

500 = 0.20x ... plug in P = 500

then solve for x

Answer 12

I'll let you do this

Answer 13

x=2,500 ?

Answer 14

good

Answer 15

you must buy and sell 2500 flowers to get a profit of $500

Answer 16

Thank you so much !

Answer 17

you're welcome