Question

Mr. Pambruccian wrote a textbook for college nursing students. He receives a 4% royaltybased on the total sales of the book. The book sells for $45.99. and 24,576 copies were sold lastyear. How much did Mr. Pambruccian receive in royalty payments for last year, to the cent?

Answer 1

$45,210.01

Explanation:

Mr. Pambruccian receives a 4% royalty based on the total sales of the book.

• Number of books sold = 24, 576 copies

,

• Sale Price per book = $45.99

First, determine the total sales for last year.

`\text{Total Sales}=24,576*\$45.99=\$1,130,250.24`

Next, determine the royalty payments (4% of total sales) he received.

`\begin{gathered} 4\%\text{ of Total Sales =}4\%\text{ of }\$1,130,250.24 \\ =(4)/(100)*\text{ }\$1,130,250.24 \\ =\text{ }\$45,210.01 \end{gathered}`

The royalty payment for last year is $45,210.01 (correct to the cent).