Sid and Libby are planning to sell pies
at a local fair. They spend $200 to rent
a table at the fair. Their costs for
ingredients, other supplies, baking, and
packaging are $3.00 per pie. Sid and
Libby plan to sell the pies for $8 each.
How many pies must they sell at the fair
before they start making a profit?
Ok child's
200+3(n)=8(40)
320=320
200+3(41)=8(41)
323=328
The answer is 40 and sorry for not explaining but I'm in a hurry I used the substitution method :)
Well, let's do the math, shall we? If they spend $200 to rent a table and their costs for ingredients, supplies, baking, and packaging are $3 per pie, we can subtract that from the selling price of $8 per pie. So, for each pie they sell, they make a profit of $5.
To cover the $200 in table rental costs, they would need to sell 200/5 = 40 pies.
Therefore, Sid and Libby need to sell at least 40 pies at the fair before they start making a profit. Good luck to them!
To determine how many pies Sid and Libby must sell at the fair before they start making a profit, we need to calculate their expenses and compare them to their revenue.
First, let's calculate their expenses per pie:
Expenses per pie = costs for ingredients, supplies, baking, and packaging = $3.00
Next, we need to calculate their revenue per pie:
Revenue per pie = selling price = $8.00
Now, let's find out the number of pies they need to sell to cover their expenses:
Total expenses = expenses per pie x number of pies
To calculate the number of pies, we divide both sides of the equation by the expenses per pie:
Number of pies = Total expenses / expenses per pie
Since their total expenses consist of the rental cost ($200) and the expenses per pie, we can substitute their values:
Number of pies = (Rental cost + Total expenses) / expenses per pie
Number of pies = ($200 + 0) / $3.00
Number of pies = $200 / $3.00
Now, we divide the total cost by the cost per pie:
Number of pies = 66.67 pies
Since we cannot sell a fraction of a pie, Sid and Libby need to sell at least 67 pies at the fair before they start making a profit.
80peis
whene revenue > cost, then there's a profit. So, for p pies, we need
8p > 200 + 3p