At a cost of $8 per pound, how many ounces of rolled oats can be bought for $4.70?

9.4 ounces.

Step-by-step explanation:

There are 16 ounces in a pound. We are given the going rate of $8/pound which we can convert into $8/16 ounces. This can be simplified by dividing both sides by 8, which gives us the rate of $1/2 ounces. We now apply this ratio to the amount of money we have, 4 dollars and 70 cents. The 4 dollars translates into 8 ounces via the ratio. For the 70 cents, we can again change the ratio to 10 cents / 0.2 ounces (divide both sides by 10 - $1 is equal to 100 cents). This would mean that we could buy 0.2*7 ounces with the 70 cents, which equals 1.4 ounces. We add the 8 ounces from the 4 dollars and the 1.4 from the 70 cents to get 9.4 ounces.