Given parameters:
Percentage gain = 300%
Selling cost last year = $2420
Unknown:
Selling cost this year = ?
Solution:
To solve this problem;
Profit percent =
300 =
3 =
S- 2420 = 7260
S = $9680
To make a 300% gain, Jefferson Middle school needs a $9680 from fundraiser sales this year.
The store must sell 60 of each set each to obtain the biggest possible income
<h3>How to determine the number of each gift set?</h3>The given parameters can be represented using the following table:
<u>Set 1 Set 2 Available</u>
Notebook 2 3 300
Pen 1 1 120
Selling price 8 11.5
Using the above data values, we have:
Objective function: Max P = 8x + 11.5y
Subject to:
2x + 3y ≤ 300
x + y ≤ 120
Next, we plot the graph of the above inequalities (see attachment)
From the attached graph, we have:
(x,y) = (60,60)
Hence, the store must sell 60 of each set each to obtain the biggest possible income
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