Question

The formula p = nc - e gives the profit, p, when the number of items, n, are sold at cost, c, and expenses, e, are subtracted. If p = 5350, n = 3000, and e = 200, what is the value of c?

A) $2.00
B) $1.75
C) $1.60
D) $1.50

Answer 1

The profit formula is used to calculate the cost per item, c, given the profit, number of items sold, and expenses. With the given values, c should be $1.85, but as this is not an option, there might be an error to check.

Step-by-step explanation:

The student's question involves solving for the cost per item, c, in the profit equation p = nc - e. Given that the profit p is $5350, the number of items n is 3000, and the expenses e are $200, we can rearrange the equation to solve for c:

c = (p + e) / n

Plugging in the known values:

c = ($5350 + $200) / 3000

c = $5550 / 3000

c = $1.85

However, since $1.85 is not one of the options provided, it is likely there has been a miscalculation or a misunderstanding of the provided values. By double checking the calculations and ensuring there are no typos or mistakes in the provided values, the correct value of c should match one of the given options.