Question

Smoothie Stand at Utah’s Wasatch County’s Demolition Derby sells bananas. If John bought 55 lbs. of bananas at $.24 per pound expecting 10% to spoil, how should he price his bananas to achieve 59% on selling price?

Answer 1

I'm assuming the 59% achievement means, markup, so hmmmm well, if the bananas cost him $0.24 or 24cents per pound, so a markup of 59% is just 59% of 0.24 then.

whatever% of anything is just (whatever/100) * anything.

therefore, 59% of 0.24 is just (59/100) * 0.24, or 0.1416.

so, if we add 0.1416 to the 0.24, the selling price will be 0.3816, or just 38cents per pound of bananas.

Answer 2

$0.2332 per pound

Explanation:

John's smoothie stand sells bananas. John bought 55 pounds of bananas at $0.24 per pound expecting 10% to spoil.

The amount was spent in purchasing bananas = 55 × 0.24 = $13.20

A mark-up of 59% means multiply the amount spent by 1.59.

$13.20 × 1.59 = $20.988

After selling the bananas he want to have $20.988

Since 10% of the 55 lbs of bananas are expected to spoil. This implies, 90% of bananas can be sold.

100 × 0.9 = 90

Now divide the total price ( 20.988 ) by the number of good bananas (90 lbs)

to get the price per pound they should charge.

`(20.988)/(90)` = 0.2332

John should charge about $0.2332 per pound.