Final answer:
To find the price of one ream of paper, compare the total amount spent by Andrew and Ricky and the number of reams of paper they bought. Set up the equation and solve to find the price.
Step-by-step explanation:
To find the price of one ream of paper, we need to compare the total amount spent by Andrew and Ricky and the number of reams of paper they bought.
Andrew spent $6.50 on a binder, and Ricky spent $20 on an ink cartridge. Let's assume the price of one ream of paper is x dollars.
Andrew bought 7 reams of paper, so the total amount he spent is 7x dollars. Ricky bought 4 reams of paper, so the total amount he spent is 4x dollars.
Since both Andrew and Ricky spent the same amount, we can set up the equation: 7x = 4x + 6.50 + 20. Solving this equation, we find that x = $6.
Therefore, the price of one ream of paper is $6.