Form an equation out of the question about the percentage.
Cost Percentage: 121 % Conclusion: It is not cost effective to make a penny.
Practice makes perfect
Let's begin by answering the posed questions.
How Can a Model Help?
If we were to use a model, we would get the same result as solving algebraically. However, it would help us to visualize the problem and see that the cost of making a penny is higher than the value of a penny.
How Can a Proportion or a Percent Equation Be Used?
We could complete the exercise using the percent equation.
a=p* b
Instead, we will use the percent proportion.
a/b=p/100
In this proportion, a would be the cost of making a penny and b would be the value of a penny.
Solving the Problem
We have been asked to find the percentage of the value of a penny versus the cost of producing a penny. We are then asked to make a conclusion about the cost of a penny. We will start by listing what we know.
Verbal Phrase
Expression or Equation
Cost of producing a penny (c)
1.21
Value of a penny (v)
1
What percentage (p) of the value of a penny is the cost?
p * v = c
Now that we have an equation, we can use substitution and solve.
Therefore, the cost of producing a penny is 121 % the value of a penny. This means that it costs more to make a penny than what the penny is actually worth.
