Gabriel is selling 700 fiction books. He sold 50% of them at $10 each, 30% of the remainder at a discount of 40% and the rest at cost price. He made a profit of $2004. Find the cost price of a fiction book.
| Price |
$10 |
$6 |
Cost Price |
| Percent |
50% |
50% |
| |
|
15% |
35% |
| Number |
350 |
105 |
Not needed |
| Amount collected |
$3500 |
$630 |
Not needed |
Number of fiction books sold at $10
= 50% x 700
=
50100 x 700
= 350
Price after 40% discount
= 60% x 10
=
60100 x 10
= $6
Remaining fiction books
= 700 - 350
= 350
Number of fiction books sold at $6
= 30% x 350
=
30100 x 350
= 105
Number of fiction books sold at $10 or 40% discount
= 350 + 105
= 455
Total amount collected from the sale of 350 fiction books
= 350 x 10
= $3500
Total amount collected from the sale of the other 105 fiction books
= 105 x 6
= $630
Total amount collected from the sale of fiction books sold at $10 or 40% discount
= 3500 + 630
= $4130
Cost price of 455 fiction books
= 4130 - 2004
= $910
Cost price of 1 fiction book
= 910 ÷ 455
= $2
Answer(s): $2
