Question

The selling price of 12 books is $13.80 at 15% profit. What is the cost price of a book?

Answer 1

S. P of 12 books = 13.80

Profit = 15%

Therefore

15/100x13.80

= 2.07

Now C. P of 12 books = 13.80-2.07

= 11.73
Therefore

C. P of 1 book = 11.73/12

= $0.98


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Answer 2

Concept

The selling price is the amount of money that a customer pays to buy a product or a commodity. The cost price is the price paid by the seller for the product or commodity. He then multiplies it by a percentage of profit or gain. We can calculate the cost price as

Cost price = 100 * (selling price/(100 + profit))

Given

Here, selling price = $13.80

Profit = 15%

Total number of books = 12

Find

We have to find the value of the cost price of a book.

Solution

Cost price of 12 books = 100 * (13.80/(100 + 15)) = 100 * (13.80/115) = 100 * 0.12 = 12

Cost price of 1 book = 12/12 = $1

Hence, the value of the cost price of a book is $1.

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