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ra1l [238]
3 years ago
6

A bookshop had 650 copies of a book for sale. The books were marked at 75 per copy in order to make a profit of 30%. A bookselle

r bought 300 copies at 5% discount. If the remaining copies sold at 75 each, calculate the percentage profit of the bookshop will make on the whole
Mathematics
1 answer:
Ganezh [65]3 years ago
3 0

Answer:

The percentage profit of the bookshop will make on the whole is 27%.

Step-by-step explanation:

The following are given in the question:

Copies of books for sale = 650

Selling price per copy = 75

Copies sold at 5% discount = 300

Discount rate = 5%, or 0.05

Percentage profit per copy = 30%, or 0.30

To calculate cost per copy, the following formula is used:

Percentage profit per copy = (Selling price per copy – Cost per copy) / Cost per copy …….. (1)

Substituting the values into equation (1) and solve for Cost per copy, we have:

30% = (75 - Cost per copy) / Cost per copy

0.30 * Cost per copy = 75 - Cost per copy

(0.30 * Cost per copy) + Cost per copy = 75

1.30 * Cost per copy = 75

Cost per copy = 75 / 1.30

Cost per copy = 57.6923076923077

Therefore, we have:

Total cost = Copies of books for sale * Cost per copy = 650 * 57.6923076923077 = 37,500

Selling price at 5% discount = 75 * (100% - Discount rate) = 75 * (100% - 5%) = 75 * 95% = 71.25

Revenue from sales at selling price at 5% discount = Selling price at 5% discount * Number of sales at 5% discount = 71.25 * 300 = 21,375

Revenue from the remaining copies sold at 75 per copy = (Copies of books for sale - 300) * 75 = (650 - 300) * 75 = 350 * 75 = 26,250

Total revenue = Revenue from sales at selling price at 5% discount + Revenue from sales at 75 per copy = 21,375 + 26,250 = 47,625

Total profit = Total revenue - Total cost = 47,625 - 37,500 = 10,125

To calculate the percentage profit of the bookshop will make on the whole, the following formula is used:

Percentage profit on the whole = (Total profit / Total cost) * 100 ................ (2)

Substituting the relevant values form above into equation (2), we have:

Percentage profit on the whole = (10,125 / 37,500) * 100

Percentage profit on the whole = 0.27 * 100

Percentage profit on the whole = 27%

Therefore, the percentage profit of the bookshop will make on the whole is 27%.

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