Question

Each year Lizzie’s school purchases student agenda books, which are sold in the school store. This year, 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 field
trips and school activities, what is the least amount they can charge for each agenda book? Explain how you found
your answer.

Answer 1

First divide $1,137.50 by 350 to figure out how much each book costs. Then divide $1,500 by 350 to see how much the school should add to the price of each agenda book to make the total profit. So the answer should be: (1137.50/350)+(1500/350)=minimum price

Answer 2

The least amount they can charge for each agenda book is:

$7.54

Explanation:

The school purchased 350 books at a cost of $1,137.50.

The school would like to make a profit of $1,500.

i.e. Total money they should charge for 350 books= $(1500+1137.50)

= $2637.50

i.e. for 350 books they should charge $2637.50

For 1 book they should charge $(2637.50/350)

For 1 book they should charge $7.54

Hence, the least amount they can charge for each agenda book is:

$7.54