MATH SOLVE

2 months ago

Q:
# Your jewelry business orders $1320 in supplies each month. In each month, you can usually sell an earring/ring set for about $55 each. How many sets do you need to sell each month to break even?If you found that your total profit for a month was $715, how many sets did you sell?If you had a month where 7 sets were sold, how much profit did you make?

Accepted Solution

A:

Answer:Given,The jewelry business orders $ 1320 in supplies each month. That is, the invested amount = $ 1320,Also, the selling price of each earring/ring set = $ 55,Part 1 : Let x be the number of set that have been sold each month to break even ( in which revenue and invested amount are equal )So, Total revenue ( the cost of x sets) = 55x,β 55x = 1320Divide both sides by 55,We get,x = 24Hence, 24 sets are needed to sell each month to break even.Part 2 : Let y be the number of sets in which the profit is $ 715,Total revenue = 55xProfit = Total revenue - invested amountβ 55x - 1320 = 715,β 55x = 715 + 1320 β 55x = 2035 β x = 37Hence, 37 sets are sold for the total profit of $715.Part 3 : Revenue in selling 7 sets = 55 Γ 7 = $ 385Profit = $ 385 - $ 1320 = - $ 935Hence, the profit is - $ 935 after selling 7 sets.