Each year lizzy e's school purchases students 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 field trips and school activities, what is the least amount they can charge for each agenda book? Explain how you found your answer.

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Lauralayton01 Lauralayton01

04-08-2016
Mathematics

contestada

Each year lizzy e's school purchases students 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 field trips and school activities, what is the least amount they can charge for each agenda book? Explain how you found your answer.

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Sionainn Sionainn · Answer 1 · 2016-08-06T05:10:45+02:00

In order to make back the money they spent ($1,137.50) plus $1500, they want to make [tex]1137.5+1500=2637.5[/tex] $2,637.50 total.

They want to make this amount by selling 350 agendas, so divide the amount they want to make by 350 to find the amount per book:
[tex]2637.5/350=7.54[/tex]
I rounded the answer to the nearest hundredth because the hundredth is the smallest amount we have in USD (the penny.)
So they need to charge at least $7.54 to make back their money plus $1500.

Hope I helped, and let me know if you have any questions :)