Question

John bought 15 pines for $3500

Answer 1

Answer:

Explanation:

If John needs to ensure a 40% profit, John needs to sell the pines at a price that would give 40% more money back than he spent.

Since John needs to make back all of the money he spent, plus another 40%, John needs to get back 140% of what he spent.

$140\% = 1.40$

John spent $3500.

140% of $3500 is $4900.

So, John must bring in $4900 (revenue) selling all 15 pines to achieve a 40% profit.

However, the question asks for the price of a single pine.  To find the unit price of a single pine, divide the total revenue by 15.

$\frac{\ 4900}{15pines}=\frac{\ 326.\bar{6}}{pine}=\ 326.66 \text{ per pine}$