Question

A publisher pays 6% royalty to a boon writer on the first 1000 copies sold, and a 5% on any number of copies above 1000. They will print 2500 copies. Write a formula and rearrange it to find what the sale price for the book should be, if the writer expects to be paid $5000. Round the price of the nearest dollar.

Answer 1

Answer: The sale price of book would be $2.

Explanation:

Let x be the selling price of the book.

Selling price of 2500 books=2500x

Then 6 % royalty on 1000 copies=0.06(1000x)=60x

Since, the printed copies are 2500> 1000

Copies above 1000=2500-1000=1500

Therefore, The 5% on any number of copies above 1000= 0.05(1500x)=75x

Since, the writer expects to be paid $5000.

then

`2500x+60x+75x=5000\\\Rightarrow2635x=5000\\\Rightarrow\ x=(5000)/(2635)\\\Rightarrow\ x=1.8975332\approx2`

Hence, the sale price of book would be $2.