Question

Each year lizzy e's school purchases students agenda books, which are sold in the school store.This year, the school purchased 350 books at a cost of $1,137.50. If the school would like to make a profit of 1,500 to help pay for field trips and school activities, what is the least amount they can charge for each agenda book? Explain how you found your answer.

Answer 1

In order to make back the money they spent ($1,137.50) plus $1500, they want to make
`1137.5+1500=2637.5` $2,637.50 total.

They want to make this amount by selling 350 agendas, so divide the amount they want to make by 350 to find the amount per book:

`2637.5/350=7.54`
I rounded the answer to the nearest hundredth because the hundredth is the smallest amount we have in USD (the penny.)
So they need to charge at least $7.54 to make back their money plus $1500.

Hope I helped, and let me know if you have any questions :)