Question

A coin collector bought a set of coins for $500, and then sold the set for $850, making a profit of $50 per coin. how many coins were in the set?

Answer 1

For this case, the first thing we must do is calculate the total profit.

We have then:

`P = 850 - 500`

`P = 350`

Then, we look for the number of coins.

For this, we need the total profit (which we already calculate) and the amount of profit per coin.

We have then:

`N = (350)/(50)`

`N = 7`

Answer:

The amount of coins that was on the set is:

`N = 7`