Question

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

Start by computing the sale price - what is it?

Answer 2

Then you need to pick a variable to represent the quantity sold.

Now, your profit is Revenue - Cost, right?

Your revenue = sales price x quantity sold
.... you have a number for the sales price, and a variable for the quantity sold

Your cost = purchase cost (given in the problem) x quantity sold (that variable, again)

then you want, Profit = 500; and profit = revenue - cost, so you have an equation:

500 = Revenue - Cost

Put in the expression (with the variable) that you came up with for revenue, and the expression (with the variable) that you came up with for cost.

Solve for the variable, and that's the quantity that gives profit o 500.