Brandon is selling 1100 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 $2447. Find the cost price of a guide book.
| Price |
$10 |
$6 |
Cost Price |
| Percent |
75% |
25% |
| |
|
5% |
20% |
| Number |
825 |
55 |
Not needed |
| Amount collected |
$8250 |
$330 |
Not needed |
Number of guide books sold at $10
= 75% x 1100
=
75100 x 1100
= 825
Price after 40% discount
= 60% x 10
=
60100 x 10
= $6
Remaining guide books
= 1100 - 825
= 275
Number of guide books sold at $6
= 20% x 275
=
20100 x 275
= 55
Number of guide books sold at $10 or 40% discount
= 825 + 55
= 880
Total amount collected from the sale of 825 guide books
= 825 x 10
= $8250
Total amount collected from the sale of the other 55 guide books
= 55 x 6
= $330
Total amount collected from the sale of guide books sold at $10 or 40% discount
= 8250 + 330
= $8580
Cost price of 880 guide books
= 8580 - 2447
= $3520
Cost price of 1 guide book
= 3520 ÷ 880
= $4
Answer(s): $4
