Question

A store can purchase shirts for $7 each. Each shirt is sold for $18. If the store wants to make $748, how many shirts must it sell? State what x represents, state the equation, and the solution.

Answer 1

Let x represent the number of shirts sold. The equation representing the store's profit is 18x - 7x = 748. Solving for x, the store needs to sell 68 shirts to make a profit of $748.

Step-by-step explanation:

In this scenario, x represents the number of shirts sold by the store. The cost price per shirt is $7, and the selling price is $18. To calculate the store's profit, we use the equation for profit: revenue - cost. The revenue from selling x shirts is 18x (selling price per shirt multiplied by the number of shirts), and the cost incurred for purchasing x shirts at $7 each is 7x. The equation representing the profit is 18x - 7x = 748, where 18x is the total revenue from selling x shirts and 7x is the total cost of purchasing x shirts. Solving this equation yields x = 68, indicating that the store needs to sell 68 shirts to make a profit of $748.

Understanding the relationship between the cost, selling price, and profit is crucial for businesses. Here, the equation 18x - 7x = 748 represents the difference between the total revenue obtained from selling shirts at $18 each and the total cost incurred to purchase shirts at $7 each. By solving this equation, it is determined that selling 68 shirts will result in the desired profit of $748. This calculation assists the store in setting sales targets and pricing strategies to achieve their financial goals.