Peter bought 45 sheets of plywood at a total cost of $400. He plans to sell each sheet of plywood for $15. If Peter has no other expenses, what is the fewest number of sheets he must sell to make a profit?
A)3
B)15
C)16
D)26
E)27

Question

Quizplus · Accepted Answer

To make a profit, Peter must first recover his initial cost of $400. The cost per sheet is $400 / 45 = $8.89 approximately. Selling each sheet at $15, he makes $15 - $8.89 = $6.11 profit per sheet. To cover the $400 cost, he needs to sell more than $400 / $15 = 26.67 sheets. Since he can't sell a fraction of a sheet, he needs to sell at least 27 sheets to start making a profit.

Peter Bought 45 Sheets of Plywood at a Total Cost