Question

A used book store buys a hardback book for $1.50 and then sells it for $5. Over time, the store sells the same number of books it buys. The store manager can use the equation P(x)=5x−1.5x to determine the store's profit, P(x), where x is the number of books that the store sells. Which statement about the book store is true based on the profit equation?
A.The book store makes a profit of $5.00 for each hardback book that is sold.
B.The book store makes a profit of $3.50 for each hardback book that is sold.
C.The book store makes a profit of $4.50 for each hardback book that is sold.
D.The book store sells each hardback book for $3.50

Answer 1

A used book store buys a hardback book for $1.50 and then sells it for $5. Over time, the store sells the same number of books it buys. The store manager can use the equation P(x)=5x−1.5x to determine the store's profit, P(x), where x is the number of books that the store sells. Which statement about the book store is true based on the profit equation?

Cost Price of book, C.P.=$1.50

Selling Price of book, S.P.=$5

PROFIT=S.P. -C.P.

So, Profit=$5-$1.50=$3.50

So, Profit=$3.50 on each book

Or, we are given P(x)= 5x-1.50x

Or, P(x)=3.50x

For each book, we must divide the profit P(x) by x, that is, number of books

$\frac{P(x)}{x}=\frac{3.5x}{x}$

$\frac{P(x)}{x}=\frac{3.5*1}{1}$

$\frac{P(x)}{x}=3.5$

So, Profit for each book sold is $3.50

Answer:Option C