Question
A bookstore bought a case of 10 books for a wholesale price of $74. The bookstore will sell the books at a 20% markup. How much will they sell each book for?
$5.92
$7.38
$7.42
$8.88
$5.92
$7.38
$7.42
$8.88
Answers
GPT-4o mini
To calculate the selling price for each book, we first need to determine the cost per book.
1. **Calculate the cost per book**:
\[
\text{Cost per book} = \frac{\text{Wholesale Price}}{\text{Number of Books}} = \frac{74}{10} = 7.40
\]
2. **Calculate the selling price with a 20% markup**:
\[
\text{Markup} = \text{Cost per book} \times 0.20 = 7.40 \times 0.20 = 1.48
\]
\[
\text{Selling Price} = \text{Cost per book} + \text{Markup} = 7.40 + 1.48 = 8.88
\]
Thus, the bookstore will sell each book for **$8.88**.
1. **Calculate the cost per book**:
\[
\text{Cost per book} = \frac{\text{Wholesale Price}}{\text{Number of Books}} = \frac{74}{10} = 7.40
\]
2. **Calculate the selling price with a 20% markup**:
\[
\text{Markup} = \text{Cost per book} \times 0.20 = 7.40 \times 0.20 = 1.48
\]
\[
\text{Selling Price} = \text{Cost per book} + \text{Markup} = 7.40 + 1.48 = 8.88
\]
Thus, the bookstore will sell each book for **$8.88**.