SOLUTION: Aunt Sally’s “New Orleans Most Famous Pralines” sells pralines costing $1.02 each to make. If Aunt Sally’s wants a 40% markup based on selling price and produces 30 praline

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Question 1148935: Aunt Sally’s “New Orleans Most Famous Pralines” sells pralines costing $1.02 each to make. If Aunt Sally’s wants a 40% markup based on selling price and produces 30 pralines with an anticipated 16% spoilage, what should each praline be sold for? (Use your unrounded "number of units available for sale" value (after accounting for spoilage). Round your answer to the nearest cent.)
Selling price

Found 2 solutions by josmiceli, MathTherapy:
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+30+-+.16%2A30+=+30+-+4.8+
+30+-+4.8+=+25.2+ available for sale
Cost + markup =
++1.02%2A30+%2B+.4%2A25.2+
+30.6+%2B+10.08+=+40.68+
+40.68+%2F+25.2+=+1.6143+
The price per praline is $1.61
Definitely get a 2nd opinion

Answer by MathTherapy(10556) About Me  (Show Source):
You can put this solution on YOUR website!
Aunt Sally’s “New Orleans Most Famous Pralines” sells pralines costing $1.02 each to make. If Aunt Sally’s wants a 40% markup based on selling price and produces 30 pralines with an anticipated 16% spoilage, what should each praline be sold for? (Use your unrounded "number of units available for sale" value (after accounting for spoilage). Round your answer to the nearest cent.)
Cost (C): 1.02(30) = $30.60

Let selling price of each be P

Then revenue (R)= (1 - .16) * 30 * P = 30(.84) * P = 25.2P



We then get: R = Markup

25.2P = 1.4(30.6)

P, or selling price of each = highlight_green%28matrix%281%2C3%2C+1.4%2830.6%29%2F25.2%2C+%22=%22%2C+%22%241.+70%22%29%29



It's quite UNUSUAL to have a fraction of a praline as in .2 (matrix%281%2C3%2C+2%2F10%2C+of%2C+25.2%29), but the above answer is correct, nonetheless!