Mrs Binder owns a second hand. Book shop.she buys 30 good as new books for £3 each.she chooses a selling price that will give her a 40% profit.she sells 3/5 of the books at this price.she then reduced the selling price by 20% and sold the remaining books at this price.calculate mrs binders overall percentage profit on this transaction
Accepted Solution
A:
Cost of the books = £3 x 30 = £90
---------------------------------------------------------------------------- Sales from 3/5 of the books : ---------------------------------------------------------------------------- 3/5 of the books = 3/5 x 30 = 18
40% of £3 = 0.4 x £3 = £1.20 Selling Price = £3 + £1.20 = £4.20
Total Sales = £4.20 x 18 = £75.60
---------------------------------------------------------------------------- Sales from the remaining books : ---------------------------------------------------------------------------- Remaining books = 30 - 18 = 12
Selling Price = £4.20 - 20% x £4.20 Selling Price = £4.20 - 0.2 x 4.20 Selling Price = £3.36