SOLUTION: The audio outlet purchased 60 cassette recorders, gave away three, and sold the rest at twice their purchase price. If the store's total profit was $1188, how much did the store se

Algebra ->  Expressions-with-variables -> SOLUTION: The audio outlet purchased 60 cassette recorders, gave away three, and sold the rest at twice their purchase price. If the store's total profit was $1188, how much did the store se      Log On


   

Question 1096900: The audio outlet purchased 60 cassette recorders, gave away three, and sold the rest at twice their purchase price. If the store's total profit was $1188, how much did the store sell each recorder for?
Answer by greenestamps(13195) About Me  (Show Source):
You can put this solution on YOUR website!

If the purchase price for each one is x, then the total purchase price is 60x.

They sold 57 of the 60, each for a price of 2x; the profit is selling price minus purchase price:
57%2A2x+-+60x+=+114x-60x+=+54x

Since the profit was $1188,

54x+=+1188
x+=+22

So they bought the recorders for $22 each and sold them for $44 each.