Question

A bookstore marks up the price of a book by 40% of the cost from the publisher. Therefore, the bookstore's price to the student, P(x) (in $) after a 7.5% sales tax, is given by P(x) = 1.075(x + 0.40x), where x is the cost of the book from the publisher. Evaluate P(60) and interpret the meaning in the context of this problem

Answer 1

This means that, when the price of book from publisher is $60, the bookstore will sell it $88 to the students.

Explanation:

Solution:

The cost of book from publisher = 40%

Sales tax = 7.5%

Price of books to the student = p(x) = 1.075x + 0.40x

Where, x is cost of book.

P (60) =?

We know that,

P(x) = 1.075 + 0.40

= 1.475%

=148

Given, Cost of book, x = 60

P (60) = 148 – 60

= 88

This means that, when the price of book from publisher is $60, the bookstore will sell it $88 to the students.