Flynn is selling 1200 guide books. He sold 75% of them at $10 each, 20% of the remainder at a discount of 40% and the rest at cost price. He made a profit of $2213. Find the cost price of a guide book.
| Price |
$10 |
$6 |
Cost Price |
| Percent |
75% |
25% |
| |
|
5% |
20% |
| Number |
900 |
60 |
Not needed |
| Amount collected |
$9000 |
$360 |
Not needed |
Number of guide books sold at $10
= 75% x 1200
=
75100 x 1200
= 900
Price after 40% discount
= 60% x 10
=
60100 x 10
= $6
Remaining guide books
= 1200 - 900
= 300
Number of guide books sold at $6
= 20% x 300
=
20100 x 300
= 60
Number of guide books sold at $10 or 40% discount
= 900 + 60
= 960
Total amount collected from the sale of 900 guide books
= 900 x 10
= $9000
Total amount collected from the sale of the other 60 guide books
= 60 x 6
= $360
Total amount collected from the sale of guide books sold at $10 or 40% discount
= 9000 + 360
= $9360
Cost price of 960 guide books
= 9360 - 2213
= $5760
Cost price of 1 guide book
= 5760 ÷ 960
= $6
Answer(s): $6
