First week sells 6 chairs for $80 each. Next week, if chair is not sold, it will sell for 0.85 times previous week's price. Store needs to sell 6 chairs for total of $270 to make a profit. what is the last week in which all 6 chairs could be sold so that the store makes a profit?

Question

First week sells 6 chairs for $80 each. Next week, if chair is not sold, it will sell for 0.85 times previous week's price. Store needs to sell 6 chairs for total of $270 to make a profit. what is the last week in which all 6 chairs could be sold so that the store makes a profit?

Answer 1

To determine the last week in which all 6 chairs could be sold to make a profit, we'll calculate the selling prices of the chairs for each week and track the cumulative revenue until it reaches or exceeds $270.

Let's break the problem down week by week:

Week 1: The store sells 6 chairs for $80 each, making a revenue of 6 * $80 = $480.

Since the revenue is already higher than the target ($480 > $270), the store has already made a profit, and no further calculation is needed.

Therefore, the last week in which all 6 chairs could be sold so that the store makes a profit is the first week.

Note: In this given scenario, the price reduction of 0.85 times the previous week's price does not come into play because the target revenue is already surpassed in Week 1, so there is no need for the store to decrease the price.

First week sells 6 chairs for $80 each. Next week, if chair is not sold, it will sell for 0.85 times previous week's price. Store needs to sell 6 chairs for total of $270 to make a profit. what is the last week in which all 6 chairs could be sold so that the store makes a profit?

No!

To determine the last week in which all 6 chairs could be sold to make a profit, we'll calculate the selling prices of the chairs for each week and track the cumulative revenue until it reaches or exceeds $270.