Zeph is selling 800 magazines. He sold 60% of them at $10 each, 60% of the remainder at a discount of 40% and the rest at cost price. He made a profit of $2039. Find the cost price of a magazine.
| Price |
$10 |
$6 |
Cost Price |
| Percent |
60% |
40% |
| |
|
24% |
16% |
| Number |
480 |
192 |
Not needed |
| Amount collected |
$4800 |
$1152 |
Not needed |
Number of magazines sold at $10
= 60% x 800
=
60100 x 800
= 480
Price after 40% discount
= 60% x 10
=
60100 x 10
= $6
Remaining magazines
= 800 - 480
= 320
Number of magazines sold at $6
= 60% x 320
=
60100 x 320
= 192
Number of magazines sold at $10 or 40% discount
= 480 + 192
= 672
Total amount collected from the sale of 480 magazines
= 480 x 10
= $4800
Total amount collected from the sale of the other 192 magazines
= 192 x 6
= $1152
Total amount collected from the sale of magazines sold at $10 or 40% discount
= 4800 + 1152
= $5952
Cost price of 672 magazines
= 5952 - 2039
= $2688
Cost price of 1 magazine
= 2688 ÷ 672
= $4
Answer(s): $4
