Question

John bought 15 pines for $3500

determine how much he needs to sell
one pine for to ensure an overall 40%
profit

Answer 1

Step-by-step explanation:

If John needs to ensure a 40% profit, John needs to sell the pines at a price that would give 40% more money back than he spent.

Since John needs to make back all of the money he spent, plus another 40%, John needs to get back 140% of what he spent.

`140\% = 1.40`

John spent $3500.

140% of $3500 is $4900.

So, John must bring in $4900 (revenue) selling all 15 pines to achieve a 40% profit.

However, the question asks for the price of a single pine. To find the unit price of a single pine, divide the total revenue by 15.

`(\$4900)/(15pines)=\frac{\$326.\bar{6}}{pine}=\$326.66 \text{ per pine}`