Question

Bob wants to make a profit of 1.25 on each fish. How much should he sell each fish for to make this profit? He purchased 25 fish for $51.36.

Answer 1

To make a profit of $1.25 per fish, Bob should sell each fish for $3.31, after rounding to the nearest cent.

Step-by-step explanation:

Bob needs to calculate the selling price of each fish to achieve a profit of $1.25 per fish. He purchased 25 fish for $51.36 in total. To begin with, we find the cost per fish by dividing the total cost by the number of fish:

Total cost / Number of fish = $51.36 / 25 = $2.0544 (cost per fish)
To make the desired profit, Bob adds the profit margin to the cost per fish:

Selling price = Cost per fish + Desired profit per fish

Selling price = $2.0544 + $1.25 = $3.3044

Rounding to the nearest cent, Bob should sell each fish for $3.31 to make a profit of $1.25 on each fish.