It costs a lady’s bag manufacturer P 400.00 to produce a lady’s bag that sells for P 550.00. How many lady’s bags must the manufacturer sell to make a profit of P 60, 000.00?
Question
It costs a lady’s bag manufacturer P 400.00 to produce a lady’s bag that sells for P 550.00. How many lady’s bags must the manufacturer sell to make a profit of P 60, 000.00?
Solution
Step 1: Determine the profit per bag. This is done by subtracting the cost of production from the selling price.
Profit per bag = Selling price - Cost of production Profit per bag = P 550.00 - P 400.00 Profit per bag = P 150.00
Step 2: Determine the number of bags needed to be sold to make a profit of P 60,000.00. This is done by dividing the desired profit by the profit per bag.
Number of bags = Desired profit / Profit per bag Number of bags = P 60,000.00 / P 150.00 Number of bags = 400
Therefore, the manufacturer must sell 400 lady’s bags to make a profit of P 60,000.00.
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