Gregory made a pitcher of lemonade at a cost of $0.50, and the

Question

Gregory made a pitcher of lemonade at a cost of $0.50, and the pitcher contained 5 glasses of lemonade. If Gregory sold all 5 glasses at the same price per glass and made a profit that was 200 percent of the cost of making the pitcher, at what price did he sell each glass?

A. $0.20
B. $0.25
C. $0.30
D. $1.00
E. $1.50

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Bunuel · Answer

Since the cost of 5 glasses was $0.50, the cost of one glass was $0.10. A profit of 200% of the cost implies a profit of $0.10 * 2 = $0.20, making the price per glass equal to $0.10 + $0.20 = $0.30.

Answer: C.

Kinshook · Answer

iishim

Given: Gregory made a pitcher of lemonade at a cost of $0.50, and the pitcher contained 5 glasses of lemonade.
Asked: If Gregory sold all 5 glasses at the same price per glass and made a profit that was 200 percent of the cost of making the pitcher, at what price did he sell each glass?
Cost of making the pitcher = $0.5 
To make 200% profit, Sale price of a pitcher = $0.5 (1+200%) = $0.5(1+2) = $1.5
Sale price of each glass = $1.5/5 = $0.3

IMO C

kayze · Answer

This question must be carefully read as many people may see 200% and $0.50 and quickly determine that the total amount Gregory made was $1.00, therefore the answer is $0.20. However, it says  profit  of 200%, not revenue. Therefore, Gregory must have made $1.00 of pure profit in addition to covering his $0.50 cost, which means his total revenue was $1.50 and each glass was sold for $0.30

ScottTargetTestPrep · Answer

Since Profit = R - C (revenue - cost), and since we know profit was 200 percent, we have the following:

P = 2C

R - C = 2C

R = 3C

Since cost = 0.5, we have:

R = 3 x 0.5

R = 1.5

Since 5 glasses were made, each glass is sold for 1.5/5 = 0.30 dollars.

Answer: C

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