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The Book Nook makes four times as much revenue on paperback books as on hardcover books. If last month's sales totaled $124,300, how much was sold of each type book?
x + 4x = 124,300
5x = 124,300
x = 24,860 hard cover sales
To solve this problem, we can set up a system of equations. Let's assume the revenue from hardcover books is represented by H, and the revenue from paperback books is represented by P.
Given that "The Book Nook makes four times as much revenue on paperback books as on hardcover books," we can express this relationship as:
P = 4H
We are also given that "last month's sales totaled $124,300," so we know that the revenue from hardcover and paperback books combined is equal to the total sales:
H + P = 124,300
Now we can substitute the value of P from the first equation into the second equation to solve for H:
H + 4H = 124,300
Combining like terms:
5H = 124,300
Dividing both sides of the equation by 5:
H = 124,300 / 5
H = 24,860
Now that we have the value for H, we can substitute it back into the first equation to find the value of P:
P = 4(24,860)
P = 99,440
Therefore, $24,860 worth of hardcover books and $99,440 worth of paperback books were sold last month.