crusty bought balloons at 5 for $1 and sold them 3 for $1. if his profit from selling balloons was $20, how many balloons did he sell?
1- how much did crusty make for every balloon?
2- what open sentence (equation) would we wite to solve this?
He buys 5 for $ 1, so he pays 20 cents for each.
He sells 3 for $ 1, so he earns 33 cents on each.
Now the cost price is given as C(x) = .20x
The revenue is given as R(x) = .33x
He makes $20 by selling the balloons.
Hence 20 = .33x
x = 20/.33
x = 60.6
x = 60 balloons
To find the solution to this problem, we need to break it down step by step:
1. First, let's determine how much Crusty made for every balloon. He bought balloons at a rate of 5 for $1 and sold them at a rate of 3 for $1. To compare the prices, we can set up a ratio:
Balloons bought (5) : Cost ($1) = Balloons sold (3) : Revenue
So, for every 5 balloons purchased, Crusty sold 3 balloons. Therefore, he made $1 for 3 balloons. To find out how much he made for each balloon, we can set up the ratio:
3 balloons : $1 = 1 balloon : X
Since we're trying to find how much he made per balloon, we can cross multiply and solve for X:
3 * X = 1 * 1
3X = 1
Dividing both sides of the equation by 3, we find:
X = 1/3 or $0.33
Therefore, Crusty made $0.33 for every balloon he sold.
2. Now let's set up an equation to solve for the number of balloons Crusty sold. Let's denote the number of balloons as "B". Since we know Crusty made a profit of $20, and he made $0.33 for every balloon, we can set up the equation:
Profit = Number of balloons sold * Profit per balloon
$20 = B * $0.33
Now we can solve for B by dividing both sides of the equation by $0.33:
B = $20 / $0.33
Dividing $20 by $0.33, we find:
B ≈ 60.61
Since you can't sell a fraction of a balloon, Crusty must have sold around 61 balloons.
Therefore, Crusty sold approximately 61 balloons.