Charlie is selling 500 textbooks. He sold 50% of them at $10 each, 30% of the remainder at a discount of 40% and the rest at cost price. He made a profit of $2153. Find the cost price of a textbook.
| Price |
$10 |
$6 |
Cost Price |
| Percent |
50% |
50% |
| |
|
15% |
35% |
| Number |
250 |
75 |
Not needed |
| Amount collected |
$2500 |
$450 |
Not needed |
Number of textbooks sold at $10
= 50% x 500
=
50100 x 500
= 250
Price after 40% discount
= 60% x 10
=
60100 x 10
= $6
Remaining textbooks
= 500 - 250
= 250
Number of textbooks sold at $6
= 30% x 250
=
30100 x 250
= 75
Number of textbooks sold at $10 or 40% discount
= 250 + 75
= 325
Total amount collected from the sale of 250 textbooks
= 250 x 10
= $2500
Total amount collected from the sale of the other 75 textbooks
= 75 x 6
= $450
Total amount collected from the sale of textbooks sold at $10 or 40% discount
= 2500 + 450
= $2950
Cost price of 325 textbooks
= 2950 - 2153
= $650
Cost price of 1 textbook
= 650 ÷ 325
= $2
Answer(s): $2
