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?
h + 4h = 124,300
5h = 124,300
h = 24,860
$24,860 revenue from hardcover books
To determine the amount sold of each type of book, we can set up a system of equations. Let's denote the revenue from paperback books as P and the revenue from hardcover books as H.
Given that the revenue from paperback books is four times the revenue from hardcover books, we have the equation P = 4H.
We are also given that last month's total sales revenue was $124,300. This can be expressed as P + H = $124,300.
Now we can solve this system of equations.
Substitute the value of P from the first equation into the second equation:
4H + H = $124,300
Combine like terms:
5H = $124,300
Divide both sides by 5 to solve for H:
H = $124,300 / 5
H ≈ $24,860
Now that we know the revenue from hardcover books is approximately $24,860, we can substitute this value back into the first equation to find the revenue from paperback books:
P = 4H
P = 4 * $24,860
P = $99,440
Therefore, approximately $24,860 worth of hardcover books were sold, and approximately $99,440 worth of paperback books were sold.