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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
So, Profit for each book sold is $3.50
Answer:Option C