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A manufacturer of jam wants to make a profit of $75 when it sells 300

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A manufacturer of jam wants to make a profit of $75 when it sells 300 [#permalink]

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New post 02 Nov 2017, 23:13
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A manufacturer of jam wants to make a profit of $75 when it sells 300 jars of jam. It costs 65¢ each to make the first 100 jars of jam and 55¢ each to make each jar after the first 100. What price should it charge for the 300 jars of jam?

(A) $75
(B) $175
(C) $225
(D) $240
(E) $250
[Reveal] Spoiler: OA

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A manufacturer of jam wants to make a profit of $75 when it sells 300 [#permalink]

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New post 02 Nov 2017, 23:44
Bunuel wrote:
A manufacturer of jam wants to make a profit of $75 when it sells 300 jars of jam. It costs 65¢ each to make the first 100 jars of jam and 55¢ each to make each jar after the first 100. What price should it charge for the 300 jars of jam?

(A) $75
(B) $175
(C) $225
(D) $240
(E) $250


Cost to make the 100 jars of jam are 100*65¢ = $65
Cost to make the remaining 200 jars of jam = 200*55¢ = $110

Therefore, cost of production of 300 jars of jam is $65+$110 = $175

Since, the manufacturer wants to make a profit of $75, he/she would have
to sell the 300 jars of jam at a price of $175+$75 = $250(Option E)
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A manufacturer of jam wants to make a profit of $75 when it sells 300 [#permalink]

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New post 03 Nov 2017, 07:52
Bunuel wrote:
A manufacturer of jam wants to make a profit of $75 when it sells 300 jars of jam. It costs 65¢ each to make the first 100 jars of jam and 55¢ each to make each jar after the first 100. What price should it charge for the 300 jars of jam?

(A) $75
(B) $175
(C) $225
(D) $240
(E) $250

Sell price with profit, where $75 = 7500 cents
(Dollars to cents: multiply by 100. Cents to dollars: move the decimal two places to the left, i.e., divide by 100.)

Sell price = (Total cost) + (profit desired)

Sell price in cents =
[65(100) + 55(300-100)] + 7500 =
[6500 + 55(200)] + 7500 =
(6500 + 11000 + 7500) cents

Switch to dollars; move decimal to the left two places on all three terms

Sell price in dollars for 300 jars of jam:
$65 + $110 + $75 = $250

Answer E

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Re: A manufacturer of jam wants to make a profit of $75 when it sells 300 [#permalink]

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New post 03 Nov 2017, 19:14
Cost of making 100 Jars= 100*0.65= $65.
Cost of making remaining 200 Jars= 200*0.55= $110

Total cost= $175
Add Profit= $75
Selling Price= 250

Answer: E.
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Re: A manufacturer of jam wants to make a profit of $75 when it sells 300 [#permalink]

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New post 06 Nov 2017, 18:05
Bunuel wrote:
A manufacturer of jam wants to make a profit of $75 when it sells 300 jars of jam. It costs 65¢ each to make the first 100 jars of jam and 55¢ each to make each jar after the first 100. What price should it charge for the 300 jars of jam?

(A) $75
(B) $175
(C) $225
(D) $240
(E) $250


The cost of the 300 jars of jam is:

0.65 x 100 + 0.55 x 200 = 65 + 110 = $175

Since the manufacturer wants to make $75 in profit, he or she should sell the 300 jars of jam for 175 + 75 = $250.

Answer: E
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Re: A manufacturer of jam wants to make a profit of $75 when it sells 300   [#permalink] 06 Nov 2017, 18:05
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