Question
When a buffet restaurant charges $12.00 per meal, the number of meals it sells per day is 400. For each $0.50 increase to the price per meal, the number of meals sold per day decreases by 10. What is the price per meal that results in the greatest sales, in dollars, from meals each day?
- $16.00
- $20.00
- $24.00
- $28.00
The correct answer is: $16.00
Cost of meal
Meals per day
Total cost
12
400
4800
12.5
390
4875
13
380
4940
13.5
370
4995
14
360
5040
14.5
350
5075
15
340
5100
15.5
330
5115
16
320
5120
16.5
310
5115
So maximum cost per can be kept is 16.
Discount is the term used to describe the sum or portion subtracted from an item's usual selling price — a good or service's price decreases when given a discount. For instance, if the item breaks, we can ask the manager for a discount.
When a bond's price is expected to be less than its face value, it is known as a discount. Discounts are a form of product cost price reduction or deduction. When customers receive discounts on various things, it is frequently employed in consumer transactions. How to Find Discount
1.) The rate is frequently stated as a percentage.
2.) To calculate the discount, we must multiply the rate by the starting cost.
3.) To calculate the sale price, we must subtract the discount from the purchase price.
¶ Rate of Discount = Discount% = Discount List / Price×100.
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