Measuring, Estimating and Units
Hong Kong
Stage 1 - Stage 3
Reasonable Units
Interactive practice questions
A trader of commodities buys $6$6 tons of cocoa at $\$2.90$$2.90 per pound, and another $7$7 tons at $\$3.10$$3.10 per pound from a different source. He has a contract to sell $5$5 tons of cocoa next month at $\$2.30$$2.30 per pound, and has found a second buyer who has agreed to buy his cocoa immediately at $\$9.20$$9.20 per pound.
a
Assuming he has already been paid for next month's contract, solve for $n$n, the number of tons of cocoa he needs to sell to the second buyer to break even immediately.
b
How much will he make through the sale to the second buyer? Round your answer to the nearest cent.
Easy
Approx 4 minutes
Sign up to access Practice Questions
Get full access to our content with a Mathspace account