SOLUTION: I cannot come up with a formula to solve this. If lean hamburger purchased at $1.89 but loses 10% weight during cooking--and regular hamburger costs $1.09 but loses 30% weight dur

Question 814686: I cannot come up with a formula to solve this. If lean hamburger purchased at $1.89 but loses 10% weight during cooking--and regular hamburger costs $1.09 but loses 30% weight during cooking...what would have to be the purchase price of the lean meat in order to make it of equal value to the regular? Thank you!
Rebecca
Found 2 solutions by LinnW, TimothyLamb:
Answer by LinnW(1048) (Show Source): You can put this solution on YOUR website!
x = lean price, y = cost
y=(1-0.10)x cost is (100%-10%) times x
y=0.90x
for regular hamburger
y=(1-0.30)1.09 cost is (100%-30%) times $1.09
y= 0.70*1.09
y= 0.763
So when 0.90x = 0.763 lean and regular would have the same value.
x= 0.763/0.90
x=0.8477
Answer by TimothyLamb(4379) (Show Source): You can put this solution on YOUR website!
L = value of lean hb
R = value of regular hb
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L = 1.89 / (0.9) = 2.10 dollars/unit-weight
R = 1.09 / (0.7) = 1.56 dollars/unit-weight
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Answer:
at what price p for lean hb is L = R?
p / (0.9) = 1.56
p = 1.56 * (0.9) = 1.40
you get the same value as R if you can purchase lean hb at $1.40 per unit-weight
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