Riordan is selling 1200 colouring books. He sold 50% of them at $10 each, 40% of the remainder at a discount of 40% and the rest at cost price. He made a profit of $2344. Find the cost price of a colouring book.
| Price |
$10 |
$6 |
Cost Price |
| Percent |
50% |
50% |
| |
|
20% |
30% |
| Number |
600 |
240 |
Not needed |
| Amount collected |
$6000 |
$1440 |
Not needed |
Number of colouring books sold at $10
= 50% x 1200
=
50100 x 1200
= 600
Price after 40% discount
= 60% x 10
=
60100 x 10
= $6
Remaining colouring books
= 1200 - 600
= 600
Number of colouring books sold at $6
= 40% x 600
=
40100 x 600
= 240
Number of colouring books sold at $10 or 40% discount
= 600 + 240
= 840
Total amount collected from the sale of 600 colouring books
= 600 x 10
= $6000
Total amount collected from the sale of the other 240 colouring books
= 240 x 6
= $1440
Total amount collected from the sale of colouring books sold at $10 or 40% discount
= 6000 + 1440
= $7440
Cost price of 840 colouring books
= 7440 - 2344
= $8400
Cost price of 1 colouring book
= 8400 ÷ 840
= $10
Answer(s): $10
