This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Here's the solution to the problem: a) Find the selling price of a bag. Step 1: Calculate the profit amount per bag. The cost price is 120.00 and the profit percentage is 30%. Profit amount = 30\% × \120.00 = (30)/(100) × \120.00 = \36.00 Step 2: Calculate the selling price per bag. Selling price = Cost price + Profit amount = \120.00 + \36.00 = \156.00 b) If the company wants to produce more a total profit of 2,700.00, how many bags must be sold. Step 1: Determine the profit per bag. From part (a), the profit per bag is 36.00. Step 2: Calculate the number of bags to be sold. Number of bags = Total desired profitProfit per bag = (\2,700.00)/(\36.00) = 75 bags c) Suppose the production cost increases by 10% but the selling price remains unchanged, find the: i) new profit per bag Step 1: Calculate the new production cost per bag. The original cost is 120.00 and it increases by 10%. New cost price = \120.00 + (10\% × \120.00) = \120.00 + \12.00 = \132.00 Step 2: Calculate the new profit per bag. The selling price remains unchanged at 156.00 (from part a). New profit per bag = Selling price - New cost price = \156.00 - \132.00 = \24.00 ii) number of bags that must be sold to make a profit of at least 2,700.00 Step 1: Determine the new profit per bag. From part (c.i), the new profit per bag is 24.00. Step 2: Calculate the number of bags to be sold. Number of bags = Total desired profitNew profit per bag = (\2,700.00)/(\24.00) = 112.5 bags Since you cannot sell half a bag, the company must sell 113 bags to make at least 2,700.00 profit. Send me the next one 📸