Question

You and your classmates create 16 paintings to sell at the PTA auction to raise money for your school. In order to pay for the materials you bought to make the paintings, you need to sell each of the paintings for $1.75. When transporting the paintings to the auction, one of your parents accidentally drops two of the paintings in the street and they are run over by a garbage truck. What is the new minimum price you need to set for the remaining paintings in order to pay for the materials?

Answer 1

Given that there are 16 paintings to sell at a PTA auction.

In order to pay for the materials, he needs to sell each of the paintings for $1.75 each. So, the cost of material is

$1.75\times16=28$

The total cost of the material is $28.

Two of the paintings are damaged during transportation. So he needs to sell only 14 paintings to get $28.

So, he needs to sell each of the paintings at:

$\frac{28}{14}=2$

Thus, the new minimum price he needs to set for the remaining paintings in order top