The seventh-grade band is going to sell baked goods at the craft show. The cost to rent a booth at the craft show is $60. The band plans to charge $1.50 per baked good.
How many baked goods must they sell in order to profit at least $200?
A. 93 baked goods
B. 94 baked goods
C. 173 baked goods
D. 174 baked goods
We can start by setting up an equation to represent the situation:
Total Profit = Total Revenue - Total Cost
Let's use the variable "x" to represent the number of baked goods sold.
Total Revenue = 1.5x (since each baked good is sold for $1.50)
Total Cost = 60 (since that's the cost to rent the booth)
Now we can plug these into the equation:
Total Profit = 1.5x - 60
We want to know how many baked goods must be sold to make a profit of at least $200, so we can set up this inequality:
1.5x - 60 ≥ 200
Let's solve for x:
1.5x ≥ 260
x ≥ 173.333
Since we can't sell a fractional number of baked goods, we'll round up to the nearest whole number:
x = 174
Therefore, the answer is D. The band must sell at least 174 baked goods to make a profit of at least $200.