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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Ryan Miller wanted to make some money at a flea market. He purchased 55 small orchids from a nursery for a total of $233.75, three bags of potting soil for $2.75 each, and 55 ceramic pots at $4.60 each. After planting the orchids in the pots, Ryan sold each plant for $15.50 at the flea market.

a. What was his total cost per potted plant?

b. How much profit did Bill make on this venture?

(a)

To determine

To calculate: The total cost per potted plant if the Ryan miller purchase 55 small orchids from a nursery for $233.75, three bags of potting soil for $2.75 each and 55 ceramic pot at $4.60 per pot which he is going to sell to make some money for $15.50 at flea market.

Explanation

Given Information:

Ryan miller purchase 55 small orchids from a nursery for $233.75, three bags of potting soil for $2.75 each and 55 ceramic pot at $4.60 per pot

Which he is going to sell to make some money for $15.50 at flea market.

Formula used:

To add two decimal numbers use the steps:

Step 1: Align the decimal points vertically.

Step 2: Put 0 at the empty places to make the number of digits after and decimal point equal.

Step 3: Perform addition from right to left and keep decimal point aligned.

To divide two decimal number, follow steps shown below:

Step 1: Move the decimal number to the right to make the divisor and dividend a whole number and put 0 if no space left to both the divisor and dividend.

Step 2: Perform Division

Calculation:

Consider the all investment, as 55 small orchids from a nursery for $233.75, three bags of potting soil for $2.75 each and 55 ceramic pot at $4.60 per pot.

As 3 bag of potting soil for $2.75 each cost $8.25.

55 ceramic pot for $4.60 each cost $253.

55 small orchids cost $233.75.

Now calculate the total investment

233

(b)

To determine

To calculate: The total profit if the Ryan miller purchase 55 small orchids from a nursery for $233.75, three bags of potting soil for $2.75 each and 55 ceramic pot at $4.60 per pot which he is going to sell to make some money for $15.50 at flea market.

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