SOLUTION: Henry paid 80 cents for a bag of peanuts. He sold all but 20 of them for $1.50 and made a profit of 54 dollars. How many bafs did he buy?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Henry paid 80 cents for a bag of peanuts. He sold all but 20 of them for $1.50 and made a profit of 54 dollars. How many bafs did he buy?      Log On


   

Question 790942: Henry paid 80 cents for a bag of peanuts. He sold all but 20 of them for $1.50 and made a profit of 54 dollars. How many bafs did he buy?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
Henry paid 80 cents for a bag of peanuts.
He sold all but 20 of them for $1.50 and made a profit of 54 dollars.
How many bags did he buy?
:
let b = no. of bags bought
then
(b-20) = no. of bags sold
:
Retail - wholesale = profit
1.50(b-20) - .80b = 54
1.5b - 30 - .80b = 54
1.5b - .80b = 54 + 30
.70b = 84
b = 84/.7
b = 120 bag bought
:
:
See if that works
100*1.50 = $150
120* .80 = $96
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profit: $54