Dylan is selling 800 guide books. He sold 75% of them at $5 each, 30% of the remainder at a discount of 20% and the rest at cost price. He made a profit of $2032. Find the cost price of a guide book.
| Price |
$5 |
$4 |
Cost Price |
| Percent |
75% |
25% |
| |
|
7.5% |
17.5% |
| Number |
600 |
60 |
Not needed |
| Amount collected |
$3000 |
$240 |
Not needed |
Number of guide books sold at $5
= 75% x 800
=
75100 x 800
= 600
Price after 20% discount
= 80% x 5
=
80100 x 5
= $4
Remaining guide books
= 800 - 600
= 200
Number of guide books sold at $4
= 30% x 200
=
30100 x 200
= 60
Number of guide books sold at $5 or 20% discount
= 600 + 60
= 660
Total amount collected from the sale of 600 guide books
= 600 x 5
= $3000
Total amount collected from the sale of the other 60 guide books
= 60 x 4
= $240
Total amount collected from the sale of guide books sold at $5 or 20% discount
= 3000 + 240
= $3240
Cost price of 660 guide books
= 3240 - 2032
= $2640
Cost price of 1 guide book
= 2640 ÷ 660
= $4
Answer(s): $4
