The creator of a new game receives a royalty of 8% of the selling price of each game sold. The company that produces the game receives the remaining amount. If the company receives $10.10 per game sold, what is the selling price of the game?
the company gets 92%, so
0.92p = 10.10
To find the selling price of the game, we need to determine the total amount received per game, given that the creator receives an 8% royalty and the company receives $10.10.
Let's assume the selling price of the game is 'x'.
The creator of the game receives an 8% royalty, which can be calculated as 8% of the selling price 'x'. This can be expressed as 0.08x.
Therefore, the amount received by the company is the selling price minus the royalty: x - 0.08x, which is equal to 0.92x.
According to the given information, the company receives $10.10 per game sold. So, we can set up the equation:
0.92x = $10.10
To solve for 'x', we need to isolate the variable. Divide both sides of the equation by 0.92:
x = $10.10 / 0.92
Using a calculator to evaluate the right side of the equation, we find:
x ≈ $10.98
Therefore, the selling price of the game is approximately $10.98.