Question

Don't Shout Incorporated earned a profit of
$3,200,000 on a new and revolutionary hearing
implant. Assume the company sold 10,000
implants, costing $350 each to make. At what
price did the company sell each implant?

Answer 1

The price of each implant sold is $370.

How to calculate the price?

Let the price be represented by x.

Profit = Revenue - Cost

10000x - (10000 × 350) = 3200000

10000x - 3500000 = 3200000

10000x = 3200000 + 3500000

10000x = 37000000

x = 3700000/10000

x = 370

Therefore, the price of each implant sold is 370.

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