Price it this way. How much batter will 48 cupcakes require. If you normally price your cakes determine how large of cake that would normally cover. Since the pin wheels are bi-colored and fondant. I would probably charge similar to your fondant cake cost that would = 48 cupcakes
Then make sure you include the price of your liners, cupcake boxes and inserts and frosting if it's more than you would use on the cake equivalent.
I price my cupcakes very similar to my cake per serving price. This is for filled cupcakes and includes the liners, the boxes and a simple decoration.