Suppose you own a card shop. You buy 4 for $5 and plan to sell them for 3 for $5. How many cards must you sell to get a profit of $100.Plese explain step by step how you do it. PLease be accurate i...

Suppose you own a card shop. You buy 4 for $5 and plan to sell them for 3 for $5. How many cards must you sell to get a profit of $100.

Plese explain step by step how you do it. PLease be accurate i really need this and it is very important. Thank you.

Asked on by nerdalec24

1 Answer | Add Yours

lemjay's profile pic

lemjay | High School Teacher | (Level 3) Senior Educator

Posted on

First, let's assign a variable to the number of cards sold. Let it be x.

Then, let's use the formula of profit which is:

Profit = Revenue - Total Cost

Total cost refers to the buying price which is $5 per 4 cards. So if we have x cards, the total cost is $`5/4*x`.  

The revenue is the total money earned from selling the cards. Note that the selling price is $5 per 3 cards. So if we have sold x number of cards, then the revenue is $`5/3*x` .

So,

`Profit = 5/3x - 5/4x`

Substitute too the given profit.

`100=5/3x-5/4x`

To simplify the equation, multiply both sides by the LCD of the two fractions which is 12.

`12*100=(5/3x-5/4x)*12`

`1200=20x - 15x`

`1200=5x`

Then, isolate x. To do so, divide both sides by 5.

`1200/5=(5x)/5`

`240=x`

Hence, we need to sell 240 cards in order to have a profit of $100.

We’ve answered 318,915 questions. We can answer yours, too.

Ask a question