Ivan is selling 1100 non-fiction books. He sold 75% 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 $2222. Find the cost price of a non-fiction book.
| Price |
$10 |
$7 |
Cost Price |
| Percent |
75% |
25% |
| |
|
10% |
15% |
| Number |
825 |
110 |
Not needed |
| Amount collected |
$8250 |
$770 |
Not needed |
Number of non-fiction books sold at $10
= 75% x 1100
=
75100 x 1100
= 825
Price after 30% discount
= 70% x 10
=
70100 x 10
= $7
Remaining non-fiction books
= 1100 - 825
= 275
Number of non-fiction books sold at $7
= 40% x 275
=
40100 x 275
= 110
Number of non-fiction books sold at $10 or 30% discount
= 825 + 110
= 935
Total amount collected from the sale of 825 non-fiction books
= 825 x 10
= $8250
Total amount collected from the sale of the other 110 non-fiction books
= 110 x 7
= $770
Total amount collected from the sale of non-fiction books sold at $10 or 30% discount
= 8250 + 770
= $9020
Cost price of 935 non-fiction books
= 9020 - 2222
= $3740
Cost price of 1 non-fiction book
= 3740 ÷ 935
= $4
Answer(s): $4
