The rice will cost $17.6 for serving 40 people
We need to determine the cost of serving 40 people with rice
Arborio rice is purchased in 2-pound boxes for $1.99
The price of 1 pound box will be [tex]\frac{\$ 1.99}{2}=\$ 0.995[/tex]
1 Pound (lb) is equal to 16 ounces (oz)
Therefore, the price of 16 ounces is $0.995
A cup of raw Arborio rice weighs 7 ounces and it serve 1 people
[tex]\begin{array}{l}{\text { The cost per person is } \frac{\$ 0.995}{16} \times 7=\$ 0.44} \\\\ {\text { The cost for serving } 40 \text { people }=\$ 0.44 \times 40=\$ 17.6}\end{array}[/tex]
Therefore rice will cost $17.6 for serving 40 people