## Related questions with answers

An animal shelter has 200 calendars to sell at a fair as a fundraiser. Each of the calendars costs $3 to make. The shelter hopes to sell all the calendars and make a total profit of$1800. a. What should the selling price of each calendar be? b. If the shelter hopes to make a profit of $2000, what should the selling price of each calendar be? Explain your reasoning.

Solution

VerifiedIt is given that the shelter has 200 calendars to sell and each of the calendars costs $\$3$ to make.

(a) The formula for profit is $P=I-E$ where $I$ is income and $E$ is expenses. Solving this equation for $I$ gives $I=P+E$.

We know that each calendar costs $\$3$ so the expenses for 200 calendars is $E=200\cdot\$3=\$600$.

It is given that they want to have a profit of $P=\$1800$ so they need a total income of $I=P+E=\$1800+\$600=\$2400$.

Therefore, they must sell each calendar for:

$\text{(total income)}\div\text{(number of calendars) }= \$2400\div200=\boxed{\$12}$

(b) If they want a profit of $P=\$2000$ instead of $\$1800$, then they would need to have an income of $I=P+E=\$2000+\$600=\$2600$.

Therefore, they must sell each calendar for:

$\text{(total income)}\div\text{(number of calendars) }= \$2600\div200=\boxed{\$13}$

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