Sheet # 46 Critical Thinking

Name: _____________________ Date_____________

Bob's bicycle shop had 48 water bottles for sale.

On Saturday, Bob marked the water bottles down to $5 each and sold 1/2 of them.

On Sunday, he marked down the remaining bottles down to $4 and sold 1/2 of the remaining bottles.

On Monday, he marked the bottles down to $3 and sold 1/3 of the remaining bottles.

On Tuesday, he marked down the bottles he had left down to $2 and sold all of them.

If Bob purchased the bottles for $3 each, how much did he gain or lose? What was the average selling price of a bottle?

Day
Bottles sold
Bottles remaining
Money earned
Saturday
(1/2) x 48 = 24
24
24 x $5 = $120
Sunday
(1/2) x 24 = 12
12
12 x $4 = $48
Monday
(1/3) x 12 = 4
8
4 x $3 = $12
Tuesday
8
8 x $2 = $16
Total = $196

Money spent on buying 48 bottles: 48 x $3 = $144

Bob made $196 - $144 = $52

Average selling price of a bottle = $196/48 = $4.08