Answer and Explanation:
Here is the information we are provided:
Amount of sweaters: 11
How much store paid for 11 sweaters: $132
How much the store sold the 11 sweaters for: $253
We are asked to find the profit the store makes per sweater.
First, we should subtract the money used to pay for the sweaters from the amount of money the store sold the sweaters for.
Selling price - Cost price = Profit for 11 sweaters
$253 - $132 = $121
This is the profit for all 11 sweaters combined.
Now we need to find the profit for each sweater.
We do this by dividing the profit by the amount of sweaters that were bought.
$121 ÷ 11 = $11
Another way to solve this would be to divide both the selling price and cost price by 11 sweaters to find the cost for 1 sweater, and the subtract the selling price of 1 sweater by the cost price.
Cost price per sweater: $132 ÷ 11 = $12
Selling price per sweater: $253 ÷ 11 = $23
Profit per Sweater: $23 - $12 = $11
$11 is the profit the store makes per sweater.