Question

Having spent $20.16 on ingredients, Jessica and Jonathan want to know how much they should charge for lemonade. Remember, they made enough for 15 servings. What is the minimum amount that they should charge for a serving of lemonade in order to make a profit of $20.00 (meaning that they make back all the money they spent plus $20.00 extra)? Round your answer to the nearest hundredth.

Answer 1

2.68

Explanation:

Answer 2

They should charge $2.68 per lemonade serving in order to earn $20 profit in total.

Explanation:

The amount spent on the ingredients = $20.16

The number of servings prepared = 15

The profit to b made in total = $20.00

Let us assume the minimum selling amount of per serve of lemonade = $ m

So, the selling amount of 15 per serving = 15 x ( cost of each serving)

= 15 x ( $ m) = 15 m

Now, Profit = Total Selling price - Total Cost price

⇒ $20 = 15 m - $20.16

or, 40.16 = 15 m

or, m =
`(40.16)/(15) = 2.677333333`

⇒ m = 2.6773333

Now, rounding off to nearest hundredth, as 7 > 5 so 2,677333 ≈ 2.68

Hence, they should charge $2.68 per lemonade serving in order to earn $20 profit in total.