Question

A craft club makes 95 identical paperweights to sell. They collect $230.85 from selling all of the paperweights. If the profit the club collects is two times as much as the cost to make each one, what does it cost the club to make each paperweight?

Answer 1

Answer: It costs $1.22 to make each paperweight.

Explanation:

Given : Selling price of 95 identical paperweights = $230.85

Then, Selling price of 1 paperweight = (Selling price of 95 identical paperweights) ÷ 95

= $ (230.85 ÷ 95) = $ 2.43

Now, selling price of each paperweight = 2 x ( cost of each paperweight)

⇒ cost of each paperweight = (selling price of each paperweight ) ÷ 2

⇒ cost of each paperweight = $ 2.43 ÷ 2 = $ 1.215 ≈ $ 1.22

Hence, it costs $1.22 to make each paperweight.