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4 May, 10:38

7. A company manufactures shaving sets for $5 each and sells them for $7 each. How many shaving sets must be sold for the

company to recover an initial investement of $45,000 and earn an additional $15,000 as profit?

The company has to sell

$15,000 as profit.

shaving sets to recover an initial investment of $45,000 and earn an additional

+1
Answers (1)
  1. 4 May, 14:18
    0
    The company has to sell 30,000 sets.

    Step-by-step explanation:

    Cost of each set = $5

    Sale of each set = $7

    Profit on each set = $7 - $5 = $2

    Let

    Number of sets = x

    Profit on x number of sets = ($2) · x

    Recovery of initial investment = $45,000

    Additional profit = $15,000

    Total Profit desired = $45000 + $15000 = $60,000

    Which means that we have to find the number of sets sold, which can earn us a total profit $60,000, from which $45000 are the recovery of initial investment and $15000 are additional profit.

    We can conclude that:

    Profit on x number of set = Total profit desired

    ($2) · x = $60,000

    x = $60,000 / $2

    x = 30,000 sets
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