Problema Solution
A grocer wants to sell a candy mix that seems to be very popular with his customers. To get just the right flavor, he needs to mix 5 pounds of chocolate for every 7 pounds of peanut butter. The chocolate costs $2.75 per pound and the peanut butter $1.50 per pound. In addition, labor and energy costs average about $2 per pound of mixture. At what price should the grocer sell each of his 5-ounce chocolate/peanut butter bars so he can make a 25% profit?
Answer provided by our tutors
1 pound = 16 ounce
The cost of 5 lbs of chocolate and 7 lbs of peanut butter is:
2.75*5 + 11*7 = $90.75
The cost of labor and energy for 12 lbs mixture is:
2*12 = $24
The total cost of 12 lbs mixture is: $90.75 + $24 = $114.75
12 lbs = 12*16 oz = 192 oz
There are 192/5 bars in 12 lbs of mixture.
Let 'x' represent the price per 5-ounce chocolate/peanut butter bar.
(192/5)x - 114.75 = 0.25*114.75
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click here to see the equation solved for x
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x = $3.74
The grocer should sell each bar for $3.74.