You and your classmates create 25 murals to sell at the PTA auction to raise money for your school. In order to pay for the materials you bought to make the murals, you need to sell each of the murals for $5.25. When transporting the murals to the auction, one of your parents accidentally drops three of the murals in the street and they are run over by a Amtrak train. What is the new minimum price you need to set for the remaining murals in order to pay for the materials?

Question

08-09-2021
Mathematics

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You and your classmates create 25 murals to sell at the PTA auction to raise money for your school. In order to pay for the materials you bought to make the murals, you need to sell each of the murals for $5.25. When transporting the murals to the auction, one of your parents accidentally drops three of the murals in the street and they are run over by a Amtrak train. What is the new minimum price you need to set for the remaining murals in order to pay for the materials?

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adioabiola adioabiola · Answer 1 · 2021-09-17T13:34:35+02:00

Here, we are required to find the new minimum price that needs to be set for the remaining murals in order to pay for the materials

The new minimum price that needs to be set for the remaining murals in order to pay for the materials is $5.97

Number of murals created = 25

Cost of each murals to pay for the materials you bought = $5.25

Total cost of the materials = Number of murals created × materials you bought

= 25 × $5.25

= $131.25

If one of your parents accidentally drops 3 of the murals

Number of murals remaining = 25 - 3

= 22

New Miinimum price you need to set for the remaining murals in order to pay for the materials = Total cost of the materials ÷ Number of murals remaining

= $131.25 ÷ 22

= $5.9659090909090

Approximately,

$5.97

The reason for this increase is due to the three murals ran over by a Amtrak train after one of the parents accidentally dropped them. As such, there's need for this increase in order to break-even and to be able to pay for the materials.