Question

Suppose a market basket consists of 10 pencils, 3 erasers, and 1 calculator. What is the value of this market basket if the price of a pencil is $1, the price of an eraser is $2, and the price of a calculator is $5.

(A) $5
(B) $8
(C) $14
(D) $21
(E) $22

Answer 1

To find the market basket's value, multiply the quantities of pencils, erasers, and a calculator by their respective prices and sum the results; the value is $21. Option D

Step-by-step explanation:

To determine the value of the market basket, we calculate the total cost of all items in it by multiplying the quantity of each item by its price and then adding up these amounts. The quantity and prices for the market basket in this question are:

10 pencils × $1 each = $10 spent on pencils

3 erasers × $2 each = $6 spent on erasers

1 calculator × $5 each = $5 spent on the calculator

Summing these values, we have:

$10 (for pencils) + $6 (for erasers) + $5 (for the calculator) = $21

Therefore, the total value of the market basket is $21. Option D