A candy dealer makes up a mixture of 3 parts of candy costing him 60 cents a pound with 2 parts of candy costing him 70 cents a pound, and 2 parts of candy costing him 50 cents a pound.At what price per pound should he sell this mixture to make a profit of 25%?
a. 60 cents
b. 75 cents
c. 85 cents
d. $1.00
e. $1.05
please answer and explain
His cost for 7 lbs of the mixture is
3*.60 + 2*.70 + 2*.50 = 4.20
a 25% profit requires him to charge $5.25 for that.
That's $0.75/lb.
To find the selling price per pound, we need to first calculate the average cost per pound of the mixture.
Let's calculate the average cost per pound step-by-step:
Step 1: Calculate the cost of 3 parts of candy at 60 cents per pound.
3 parts * 60 cents = 180 cents.
Step 2: Calculate the cost of 2 parts of candy at 70 cents per pound.
2 parts * 70 cents = 140 cents.
Step 3: Calculate the cost of 2 parts of candy at 50 cents per pound.
2 parts * 50 cents = 100 cents.
Step 4: Calculate the total cost of the mixture.
180 cents + 140 cents + 100 cents = 420 cents.
Step 5: Calculate the average cost per pound.
420 cents / 7 parts = 60 cents per pound.
Now, let's calculate the selling price per pound that would result in a 25% profit:
Step 6: Calculate the profit per pound.
25% of 60 cents = 0.25 * 60 cents = 15 cents.
Step 7: Calculate the selling price per pound.
60 cents + 15 cents = 75 cents per pound.
Therefore, the candy dealer should sell the mixture at a price of 75 cents per pound in order to make a profit of 25%.
The correct answer is b. 75 cents.