SOLUTION: The Audio Outlet purchased 60 cassette recorders, gave away three in a contest, and sold the rest at twice their purchase price. If the store"s total profit was 1188, how much did

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: The Audio Outlet purchased 60 cassette recorders, gave away three in a contest, and sold the rest at twice their purchase price. If the store"s total profit was 1188, how much did       Log On


   

Question 215549This question is from textbook Algebra Structure and Method Book 1
: The Audio Outlet purchased 60 cassette recorders, gave away three in a contest, 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? This question is from textbook Algebra Structure and Method Book 1

Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
The Audio Outlet purchased 60 cassette recorders, gave away three in a contest,
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?
:
They sold 57 units, and bought 60 units
Let p = original price for each unit
then
60p = total cost for the 60 units
:
Let s = price they sold each unit for
57s = total revenue from the sale of the 57 units
:
It says,"sold the rest at twice their purchase price"
s = 2p
:
Rev - cost = profit
57s - 60p = 1188
:
substitute 2p for s
57(2p) - 60 p = 1188
114p - 60p = 1188
54p = 1188
p = 1188%2F54
p = $22 is the cost paid for each
then
2(22) = $44 is the price they sold it for
;
;
Check solution
57(44) - 60(22) =
2508 - 1320 = 1188