Cole is selling 800 guide 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 $2383. Find the cost price of a guide book.
| Price |
$10 |
$7 |
Cost Price |
| Percent |
75% |
25% |
| |
|
10% |
15% |
| Number |
600 |
80 |
Not needed |
| Amount collected |
$6000 |
$560 |
Not needed |
Number of guide books sold at $10
= 75% x 800
=
75100 x 800
= 600
Price after 30% discount
= 70% x 10
=
70100 x 10
= $7
Remaining guide books
= 800 - 600
= 200
Number of guide books sold at $7
= 40% x 200
=
40100 x 200
= 80
Number of guide books sold at $10 or 30% discount
= 600 + 80
= 680
Total amount collected from the sale of 600 guide books
= 600 x 10
= $6000
Total amount collected from the sale of the other 80 guide books
= 80 x 7
= $560
Total amount collected from the sale of guide books sold at $10 or 30% discount
= 6000 + 560
= $6560
Cost price of 680 guide books
= 6560 - 2383
= $4760
Cost price of 1 guide book
= 4760 ÷ 680
= $7
Answer(s): $7
