Need help with Algebra problem!!!?

Question

"You make 100 refrigerator magnets to sell at a local crafts fair. Each magnet costs $0.60 to make. In addition, you spend $50.00 for a booth and set up. Assuming that you sell half of your magnets, how much should you charge for each magnet to make a profit of $100.00?"

That is the story. Now here is what I have to do:

"Write and solve an equation to answer the question (above)."

This is stumping me. I really need your guys' help. Thank you so much. And if you could explain how you got the equation and solved it, that'd be great : )

Answer 1

100 magnets at .60 is going to cost you $60 to make.

It's going to cost you $50 for the booth.

So 50 + 60 = $110 for the cost of everything BEFORE you even sell one magnet.

Half of the magnets would be 100/2 = 50 magnets, so you need to sell 50 magnets.

You also need to make a profit of $100 so you need to add that $100 to the $110 of overhead so that equals $210.

Here is the equation:  210=50(X)  in where X = $4.20

*My pleasure.*

Answer 2

Hey dude, go sharpen your pencil, get an eraser and something to munch on and then come over here and have a seat.

You got a hundred magnets.  No problem.

They cost you 60¢ each to put together.  (What, this ... ¢ ?  Just hold down the 'Alt' while pressing 0162 and then release.)

Altogether they cost you ( 100 X 0.60 ) 60 bucks to make.  Right?

Okay, we spent $60 and now need to pay another $50 to rent a booth.  That adds up to what...$110?  I think so.

You need to come out a hundred bucks ahead to spend on your girlfriend for her birthday.  Pricey little beasts, aren't they?

We got $110 spent so add another hundred to that.  Okay, $210, right?

They wanna know how much you gotta sell each one for to walk out the door with $100 still in your pocket.

Divide your $210 by 100.  What'd you get?  $2.10?  That's what I got.

You gave them the answer and now they want more.  You just can't satisfy them can you?

Write the equation.  Hmmm.  Let's see.  How did we do this?

100 magnets times 60 cents each, plus the $50 for the booth, plus the hundred your spending for dinner, movie, popco