Ravi has started a business importing handwoven and embroidered linen from India. His Indian supplier charges him 460 rupees per meter for the fabric. He wants to make a profit of $4 per yard. How much must Ravi charge per yard for the imported fabric? Use the following information:
1 dollar = 57.3 rupees
1 meter = 1.09 yards
Just multiply by 1 till you get the units you desire.
R460/m * $1/R57.3 * 1m/1.09yd = $7.37/yd
To determine how much Ravi must charge per yard for the imported fabric, we need to calculate the total cost of the fabric per yard and then add his desired profit.
First, let's convert the cost of the fabric per meter from rupees to dollars. We are given that 1 dollar is equal to 57.3 rupees. Therefore, the cost of the fabric per meter in dollars is:
460 rupees/meter * (1 dollar/57.3 rupees) = 8.01 dollars/meter
Next, we need to convert the cost of the fabric per meter to per yard. We are given that 1 meter is equal to 1.09 yards. Therefore, the cost of the fabric per yard is:
8.01 dollars/meter * (1 meter/1.09 yards) = 7.34 dollars/yard
Now, we need to add Ravi's desired profit of $4 per yard to the cost of the fabric per yard:
7.34 dollars/yard + 4 dollars/yard = 11.34 dollars/yard
Therefore, Ravi must charge $11.34 per yard for the imported fabric to make a profit of $4 per yard.