Question

Juliet is selling photographs as part of a project for her entrepreneurship class. She sells the first 20 photographs for $10 each. Because the first 20 photographs sold so quickly, she raised the price of the photographs to $15 each for the rest of the project. After her expenses, Juliet earns a profit of 80% of the revenues from her sales. What is the least number of photographs she must sell for the rest of the project to earn a profit of at least $400?

A) 18B) 20C) 24D) 32

Answer 1

option (B) 20

Explanation:

Data provided in the question:

Number of photographs initially sold = 20

selling price of first 20 photographs = $10 each

Therefore,

Revenue from 20 photographs = 20 × $10 = $200

Selling price of further photographs = $15

Let the number of additional photographs sold be 'x'

thus,

total revenue = $200 + $15x

now,

according to the question

80% of ($200 + $15x) = $400

or

0.80 × ($200 + $15x) = $400

or

($200 + $15x) = $500

or

$15x = $300

or

x = 20

Hence,

the answer is option (B) 20