Question

Mr. Foco's class wants to do a fundraiser for a trip to the Mathematics Museum in NYC. They are selling Special Gold Edition Dixon Ticonderoga pencil sets for $7.50 each. The cost of each set is $2.75, and there's an additional $39.98 for shipping. How many sets would need to be sold to earn an extra $1,000 for the trip?

A) 107 sets
B) 160 sets
C) 211 sets
D) 315 sets

Answer 1

To earn an extra $1,000 for the trip to the Mathematics Museum in NYC, Mr. Foco's class needs to sell 211 sets of Special Gold Edition Dixon Ticonderoga pencil sets.

Step-by-step explanation:

In order to earn an extra $1,000 for the trip, we need to determine how many sets of pencils need to be sold. Each set costs $7.50 to purchase, with $2.75 going towards the cost of each set and an additional $39.98 for shipping. Let's calculate the profit per set:

1. Profit per set = Selling price per set - Cost per set = $7.50 - $2.75 = $4.75
2. To earn an extra $1,000, we need to divide the total profit needed by the profit per set: Total profit needed / Profit per set = $1,000 / $4.75 = 210.53

Since we cannot sell a fraction of a set, we need to round up to the nearest whole number. Therefore, we need to sell 211 sets to earn an extra $1,000 for the trip.