Question

Bookstore has 25% of the books they have available loaned out to students each day. they have 5000 books available to loan. it costs students 1$ per day to rent a book. books are rented out for an average of 12 days. how many book rentals are process each day on average

a) 416
b) 15000
c) 1250
d) 1667
e) 105

Answer 1

The average number of book rentals processed each day is approximately 104, which is obtained by calculating 25% of 5000 books loaned out each day and dividing by the 12-day average rental duration. Option (e) 105 is the closest to this calculated number.

Step-by-step explanation:

To calculate the average number of book rentals that are processed each day, we need to take into account several factors provided in the question: the total number of books available for loan, the percentage loaned out each day, and the average rental duration.

First, we determine how many books are loaned out daily. Since the bookstore loans out 25% of their 5000 books each day, we calculate 25% of 5000:

0.25 × 5000 = 1250.

This means that 1250 books are loaned out each day on average. However, considering that each book is rented out for an average of 12 days, the daily processing rate for new rentals would be different. We divide the average number of books loaned out by the average rental duration to find the number of new rentals processed each day:

1250 / 12 ≈ 104.17, which rounds to 104 when considering that you can only rent out whole books.

Therefore, the number of book rentals processed each day on average is 104, which was not listed in the options provided (a) 416, (b) 15000, (c) 1250, (d) 1667, (e) 105. So, option (e) 105 is the closest correct answer, with a minor rounding difference.