Answer:
the cost of making each paperweight = $0.81
Explanation:
First let us calculate the selling price for each paperweight as follows:
total amount gotten = $230.85
number of paperweights = 95
∴ 95 paperweights = $230.85
∴ 1 paperweight = 230.85 ÷ 95 = $2.43
selling price of 1 paperweight = $2.43
Next, let the cost of making 1 paperweight be 'x'
selling price of paperweight = cost of making + profit gotten
The cost of making the paper weight (x) plus the profit made on the paper weight (2x) equals the selling price of each paper weight.
x + 2x = 2.43 (the profit the club makes is two times as much as the cost to make each paperweight)
∴ 3x = 2.43
x = 2.43 ÷ 3 = 0.81
Therefore, the cost of making each paperweight = $0.81