Question

SHL. Choose the correct option. Richard buys 13 books for $25 and wants to sell them to earn a profit of 30%. What price should he sell each book at?
​

Answer 1

Given: Richard buys 13 books for $25 and wants to sell them to earn a profit of 30%

To find: What price should he sell each book at

Solution:

The selling price is given as 25 and the profit thirty percent. To find the cost price we can directly use the formula for CP which is,

CP= 100/100+PROFIT INTO THE SP VALUE

CP= 100/130 INTO 25

CP = 250/13= 19.23= 19

The cost price will be $19.