You purchased 150 ft. of chain that normally sells for $0.15 per inch. You were charged $22.50 for the sale. Was the price correct? If not, what is the correct price and what mistake was made?
150 * 12 = 1,800 inches
1,800 * 0.15 = $270.00
If your figures in the problem are correct, the store undercharged you by a lot.
To determine if the price was correct, we can calculate the actual cost of the chain using the given information.
First, let's convert 150 ft. into inches. Since 1 foot is equal to 12 inches, we can multiply 150 ft. by 12 to get 1800 inches.
Next, we can multiply the total length of the chain (1800 inches) by the price per inch ($0.15). So the cost of the chain should be 1800 * $0.15 = $270.
Now we can compare the actual cost of $270 to the amount you were charged, which is $22.50.
Since $22.50 is significantly less than $270, we can conclude that an error was made.
To find the correct price, we need to figure out how much you were overcharged or undercharged. We can subtract the amount you were charged ($22.50) from the actual cost ($270) to find the difference.
$270 - $22.50 = $247.50
Therefore, you were undercharged by $247.50.
To find the correct price, we can add this difference to the amount you were charged:
$22.50 + $247.50 = $270
Hence, the correct price for the purchase should have been $270, and an error of undercharging $247.50 was made.