Answered

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each year Lizzie's school purchases students agenda books, which are sold in the school store. This, the school purchased 350 books at a cost of $1,137.50 if the school would like to make a profit of $1,500 to help pay for trips and school activities, what is the least amount they can charge for each agenda book? explain how you found your answer

Sagot :

Luanaidn
[tex]charging \ 350\ \ books\ cost \ 1137,50\$\ profit\\\\\ charging\ 1\ book\ cost\ 1137,50\div350=3,25\$\\\\\ x+3,25-new\ price\\\\ (3,25+x)*350=1500\ \ \ |:350\\ 3,25+x=4,28\\ x=4,28-3,25\\ x=1,03\\\\ x+3,25=1,03+3,25=4,28\\\\The\ least\ amount\ thay\ should\ charge\ for\ each\ book\ is\ 4,28\$.[/tex]
Calculistaidn

we know that

The school paid a unit price ($) per book of

[tex] \frac{1,137.50}{350} =3.25 [/tex]

$[tex] 3.25 [/tex] per book.

In order to make a profit of $1,500, the agenda books need to be

sold for a minimum of

[tex] 3.25+\frac{1500}{350} =3.25+4.29\\ =7.54 [/tex]

$[tex] 7.54 [/tex] per book.

Check

$[tex] 7.54*350 [/tex] brings revenue of

$[tex] 2,639 [/tex],

and [tex] (2,639-1,137.50) [/tex] gives profit of

$[tex] 1,501.50 [/tex]

therefore

the answer is

$[tex] 7.54 [/tex] per book.

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