Question

The International House of Nuts, a boutique nut shoppe that recently opened in your neighborhood, wants to sell a premium blend of nuts consisting of 4 pounds of cashews at $10.99 per pound, 7 pounds of chestnuts at $4.95 per pound, and 17 pounds of peanuts at $2.99 per pound.

The manager has asked your help in determining the price at which the mixture should sell. Using your superior mathematical skills, what should be the average cost per pound of this premium nut mixture? Express your answer rounded to the nearest cent.

Answer 1

Answer:

$4.62

4(10.99) + 7(4.95) + 17(2.99) / 28 = 4.62

Step-by-step explanation:

Answer 2

The average cost per pound of the premium nut mixture is $4.62.

How to calculate the average cost?

The average cost is given by,

Average cost = (Total cost) / number of items

Calculation:

Given that,

Cost of cashews per pound = $10.99

Then, for 4 pounds = 4 × $10.99 = $43.96

Cost of chestnuts per pound = $4.95

Then, for 7 pounds = 7 × $4.95 = $34.65

Cost of peanuts per pound = $2.99

Then, for 17 pounds = 17 × $2.99 = $50.83

So, the total cost for all of them = $43.96 + $34.65 + $50.83 = $129.44

Thus, the cost of the nut mixture for (4 + 7 + 17 = 28 pounds) is $129.44

Then, the average cost of the nut mixture per pound = $129.44/28 = $4.62.

So, the average cost of the nut mixture per pound is $4.62.

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