Each year, Lizzie's school purchases student agenda books, which are sold in the school store. This year, the school purchased 350 books at a cost of $1,137.50. If the school would like to make a profit of $1,500 to help pay for trips and school activities, what is the least amount they can charge for each agenda book?

Explain how you found your answer.

c ha r g in g 350 b oo k s cos t 1137 , 50$ p ro f i t c ha r g in g 1 b oo k cos t 1137 , 50 ÷ 350 = 3 , 25$ x + 3 , 25 − n e w p r i ce ( 3 , 25 + x ) ∗ 350 = 1500 ∣ : 350 3 , 25 + x = 4 , 28 x = 4 , 28 − 3 , 25 x = 1 , 03 x + 3 , 25 = 1 , 03 + 3 , 25 = 4 , 28 T h e l e a s t am o u n t t ha y s h o u l d c ha r g e f or e a c h b oo k i s 4 , 28$.

Answered by luana | 2024-06-10

we know that
**The school paid a unit price ($) per book of **
350 1 , 137.50 ​ = 3.25
$ 3.25 per book.
In order to make a profit of $1,500, the agenda books need to be
sold for a minimum of
3.25 + 350 1500 ​ = 3.25 + 4.29 = 7.54
$ 7.54 per book.
Check
$ 7.54 ∗ 350 brings revenue of
$ 2 , 639 ,
and ( 2 , 639 − 1 , 137.50 ) gives profit of
$ 1 , 501.50
therefore
the answer is
$** 7.54 per book. **

Answered by calculista | 2024-06-11

The least amount Lizzie's school can charge for each agenda book is $7.54. This price includes the cost of the books purchased and the desired profit of $1,500. Selling at this price ensures the school covers its costs and achieves its profit goal.
;

Answered by calculista | 2024-09-03