Howard is selling 1200 colouring books. He sold 60% of them at $8 each, 20% of the remainder at a discount of 25% and the rest at cost price. He made a profit of $2402. Find the cost price of a colouring book.
| Price |
$8 |
$6 |
Cost Price |
| Percent |
60% |
40% |
| |
|
8% |
32% |
| Number |
720 |
96 |
Not needed |
| Amount collected |
$5760 |
$576 |
Not needed |
Number of colouring books sold at $8
= 60% x 1200
=
60100 x 1200
= 720
Price after 25% discount
= 75% x 8
=
75100 x 8
= $6
Remaining colouring books
= 1200 - 720
= 480
Number of colouring books sold at $6
= 20% x 480
=
20100 x 480
= 96
Number of colouring books sold at $8 or 25% discount
= 720 + 96
= 816
Total amount collected from the sale of 720 colouring books
= 720 x 8
= $5760
Total amount collected from the sale of the other 96 colouring books
= 96 x 6
= $576
Total amount collected from the sale of colouring books sold at $8 or 25% discount
= 5760 + 576
= $6336
Cost price of 816 colouring books
= 6336 - 2402
= $4896
Cost price of 1 colouring book
= 4896 ÷ 816
= $6
Answer(s): $6
