The price for a loaf of bread in April was $1.17, in May the price was $1.30, and in June the price ...
The price for a loaf of bread in April was $1.17, in May the price was $1.30, and in June the price was $1.05. If 2/3 as much bread was sold in April as in May, and twice as much was sold in June as in April, what was the average price for a loaf of bread sold during the three-month period?
Answer/Solution
$1.16
Steps/Work
Let x be the number of loaves sold in May.
Then 2x/3 loaves were sold in April and 4x/3 loaves were sold in June.
The average price was (2x/3)(117) + 130x + (4x/3)(105) / (2x/3 + x + 4x/3) =
(78 + 130 + 140) / (3) = 348/3 = $1.16
The answer is D.
Then 2x/3 loaves were sold in April and 4x/3 loaves were sold in June.
The average price was (2x/3)(117) + 130x + (4x/3)(105) / (2x/3 + x + 4x/3) =
(78 + 130 + 140) / (3) = 348/3 = $1.16
The answer is D.