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

Algebra ->  Test -> SOLUTION: The audio outlet purchased 60 cassette recorders,gave three away in a contest,and sold the rest at twice their purchase price. If the stores profit was $1188,how much did the store      Log On


   

Question 508236: The audio outlet purchased 60 cassette recorders,gave three away in a contest,and sold the rest at twice their purchase price. If the stores profit was $1188,how much did the store sell each recorder for?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
The audio outlet purchased 60 cassette recorders,gave three away in a contest,and sold the rest at twice their purchase price. If the stores profit was $1188,how much did the store sell each recorder for?
----
60 bought
57 sold
---
Let "x" be the original buying price
Original purchase cost: 60x
---
Selling Revenue: 57*(2x) = 114x
---
Profit = Revenue -Cost
---
1188 = 114x - 60x
54x = 1188
x = $22.00 (original cost)
Selling price: 2x = $44.00
==========================
Cheers,
Stan H.
========