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?

Question

$5.92
$7.38
$7.42
$8.88

Answer 1

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.