Question

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

Answer 1

`charging \ 350\ \ books\ cost \ 1137,50\$\ profit\\\\\ charging\ 1\ book\ cost\ 1137,50/350=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\$.`

Answer 2

we know that

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

`(1,137.50)/(350) =3.25`

$
`3.25` per book.

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

sold for a minimum of

`3.25+(1500)/(350) =3.25+4.29\\ =7.54`

$
`7.54` per book.

Check

$
`7.54*350` brings revenue of

$
`2,639`,

and
`(2,639-1,137.50)` gives profit of

$
`1,501.50`

therefore

the answer is

$
`7.54` per book.