Sam is selling 700 colouring books. He sold 60% of them at $12 each, 60% of the remainder at a discount of 25% and the rest at cost price. He made a profit of $2375. Find the cost price of a colouring book.
| Price |
$12 |
$9 |
Cost Price |
| Percent |
60% |
40% |
| |
|
24% |
16% |
| Number |
420 |
168 |
Not needed |
| Amount collected |
$5040 |
$1512 |
Not needed |
Number of colouring books sold at $12
= 60% x 700
=
60100 x 700
= 420
Price after 25% discount
= 75% x 12
=
75100 x 12
= $9
Remaining colouring books
= 700 - 420
= 280
Number of colouring books sold at $9
= 60% x 280
=
60100 x 280
= 168
Number of colouring books sold at $12 or 25% discount
= 420 + 168
= 588
Total amount collected from the sale of 420 colouring books
= 420 x 12
= $5040
Total amount collected from the sale of the other 168 colouring books
= 168 x 9
= $1512
Total amount collected from the sale of colouring books sold at $12 or 25% discount
= 5040 + 1512
= $6552
Cost price of 588 colouring books
= 6552 - 2375
= $5292
Cost price of 1 colouring book
= 5292 ÷ 588
= $9
Answer(s): $9
