A book distributor orders 375 copies of a book on deep sea exploration.
It will evenly distribute the copies to 15 bookstores. Each bookstore pays $9.20 per copy. If the store owner wants to make a total of $350, what should be the selling price of a single book?
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To find the selling price of a single book, we need to determine the total cost of the books ordered and the profit the store owner wants to make.
The distributor ordered 375 copies of the book and will distribute them evenly to 15 bookstores. So, each bookstore will receive 375/15 = 25 copies.
Each bookstore pays $9.20 per copy, so the total cost for each bookstore is 25 * $9.20 = $230.
If the store owner wants to make a total of $350, this amount includes the cost of the books as well as the desired profit.
Let's calculate the cost of the books first. Since each store pays $230 for the books, the distributor receives a total of 15 * $230 = $3450.
To calculate the desired profit, we subtract the cost of the books from the total amount desired to be made: $350 - $3450 = -$3100.
The negative value suggests that the desired profit was not achieved. However, let's assume the store owner still wants to sell the books at a price where they can make some profit.
To determine the selling price per book, we divide the desired profit by the total number of books: -$3100 / 375 = -$8.27.
However, selling a book for a negative price doesn't make sense, so it seems impossible to achieve the desired profit of $350 given the current conditions.
Alternatively, the store owner could adjust the quantity of books ordered or reconsider the desired profit to determine a feasible selling price.
To find the selling price of a single book, we need to determine the total cost of the books and then divide it by the number of books.
First, let's find the total cost of the books. We know that each bookstore orders 375/15 = 25 copies of the book.
So, the total cost of the books is 25 * $9.20 = $230.
Now, let's calculate the profit the store owner wants to make. We have the equation:
Profit = Selling Price per book * Number of books - Total Cost
We know the profit is $350, and the total cost is $230. Let's substitute these values into the equation:
$350 = Selling Price per book * 375 - $230
Now, solve for the selling price per book:
$350 + $230 = Selling Price per book * 375
$580 = Selling Price per book * 375
Selling Price per book = $580 / 375
The selling price per book should be approximately $1.55.