Problema Solution
The owner of a local bakery , sells a variety of cookies each week. Because the demand for cookies fluctuates, some of the cookies may spoil before they can be sold. The owner plans to prepare 12 dozen cookies to sell during a week, at a cost of $.49 per cookie. The owner anticipates that 3% of the cookies will become stale before they can be sold. To ensure a 75% markup on cost, what is the minimum price that the owner should charge per cookie? Round your answer to the nearest cent.
Answer provided by our tutors
Cost * (1 + Markup) = Sale
the Cost for 12 dozen = 12*12 = 144 cookies is 144*0.49
Sale = 144*(0.97)*x, where x is the price per cookie
Markup = of at least 0.75 or 75%
144*0.49(1 + 0.75) <= 144*(0.97)*x divide both sides by 144
0.49(1 + 0.75) <= 0.97x
by solving we find
x => 0.88
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the owner should charge at least $0.88 or 88 cents per cookie.