An ice cream shop owner pays $0.12 per regular cone and $0.23 per waffle cone. Customers are allowed to choose which type of ice cream cone they would prefer. If two-thirds of the 276 cones sold last week were waffle cones, how much did the owner spend on waffle cones last week?

Answer 1

First, we need to determine how many regular cones and waffle cones were sold last week.

Let x be the number of regular cones sold and y be the number of waffle cones sold.

From the information given, we can create a system of equations:

x + y = 276 (total number of cones sold)
y = 2x/3 (since two-thirds of the cones sold were waffle cones)

Substitute the second equation into the first equation:

x + 2x/3 = 276
3x + 2x = 828
5x = 828
x = 165

Therefore, the number of regular cones sold is 165, and the number of waffle cones sold is 276 - 165 = 111.

Next, we need to calculate how much the owner spent on waffle cones last week:

Cost of waffle cones = 111 * $0.23 = $25.53

Therefore, the owner spent $25.53 on waffle cones last week.