Xavier is selling 900 textbooks. He sold 60% of them at $5 each, 20% of the remainder at a discount of 20% and the rest at cost price. He made a profit of $2126. Find the cost price of a textbook.
| Price |
$5 |
$4 |
Cost Price |
| Percent |
60% |
40% |
| |
|
8% |
32% |
| Number |
540 |
72 |
Not needed |
| Amount collected |
$2700 |
$288 |
Not needed |
Number of textbooks sold at $5
= 60% x 900
=
60100 x 900
= 540
Price after 20% discount
= 80% x 5
=
80100 x 5
= $4
Remaining textbooks
= 900 - 540
= 360
Number of textbooks sold at $4
= 20% x 360
=
20100 x 360
= 72
Number of textbooks sold at $5 or 20% discount
= 540 + 72
= 612
Total amount collected from the sale of 540 textbooks
= 540 x 5
= $2700
Total amount collected from the sale of the other 72 textbooks
= 72 x 4
= $288
Total amount collected from the sale of textbooks sold at $5 or 20% discount
= 2700 + 288
= $2988
Cost price of 612 textbooks
= 2988 - 2126
= $3672
Cost price of 1 textbook
= 3672 ÷ 612
= $6
Answer(s): $6
