Question

I bought 6 cups for $15. Two of the eggs fell, and I gained 15% profit after selling 4 cups. What is the selling price for each egg of the 4 cups, and what is the profit made on each of the cups sold?

Answer 1

The selling price for each of the 4 cups sold is approximately $2.88, and the profit made on each cup sold is $0.38, after gaining a 15% profit.

Step-by-step explanation:

First, let's establish the cost price (CP) for each cup. Since 6 cups were bought for $15, the CP per cup is $15 ÷ 6, which is $2.50.

Next, we'll determine the selling price (SP) needed to gain a 15% profit on the 4 cups sold. To find the total SP of the 4 cups, calculate the total cost of the 4 cups and add the 15% profit to this cost: 4 cups × $2.50 (CP per cup) = $10 (total CP), and then $10 + ($10 × 0.15) = $11.50 (total SP). To find the SP per cup, divide the total SP by 4: $11.50 ÷ 4 = $2.875, which rounds to approximately $2.88.

The profit made on each of the cups sold is the difference between the SP and CP. The profit per cup is $2.88 (SP) - $2.50 (CP) = $0.38.

Therefore, the selling price for each of the 4 cups is approximately $2.88, and the profit made on each of the cups sold is $0.38.