Caden is selling 800 textbooks. He sold 60% of them at $10 each, 40% of the remainder at a discount of 30% and the rest at cost price. He made a profit of $2373. Find the cost price of a textbook.
| Price |
$10 |
$7 |
Cost Price |
| Percent |
60% |
40% |
| |
|
16% |
24% |
| Number |
480 |
128 |
Not needed |
| Amount collected |
$4800 |
$896 |
Not needed |
Number of textbooks sold at $10
= 60% x 800
=
60100 x 800
= 480
Price after 30% discount
= 70% x 10
=
70100 x 10
= $7
Remaining textbooks
= 800 - 480
= 320
Number of textbooks sold at $7
= 40% x 320
=
40100 x 320
= 128
Number of textbooks sold at $10 or 30% discount
= 480 + 128
= 608
Total amount collected from the sale of 480 textbooks
= 480 x 10
= $4800
Total amount collected from the sale of the other 128 textbooks
= 128 x 7
= $896
Total amount collected from the sale of textbooks sold at $10 or 30% discount
= 4800 + 896
= $5696
Cost price of 608 textbooks
= 5696 - 2373
= $6688
Cost price of 1 textbook
= 6688 ÷ 608
= $11
Answer(s): $11
