Question

5) John wrote a DIY book that sold for $19.95. He receives 13% royalty on the total sales on the book. Last quarter, 18,000 copies of John's book was sold How much did John receive in royalty payments for the quarter? Show all working.b

Answer 1

Answer: To calculate how much John received in royalty payments for the quarter, we need to know the total sales of his book and the royalty rate. In this case, 18,000 copies of John's book were sold and the royalty rate is 13%.

We can calculate the total sales by multiplying the number of books sold by the price of each book:

Total Sales = 18,000 x $19.95

Total Sales = $359,100

To calculate the royalty payment, we need to multiply the total sales by the royalty rate:

Royalty Payment = Total Sales x (Royalty Rate / 100)

Royalty Payment = $359,100 x (13 / 100)

Royalty Payment = $46,547

So, John received $46,547 in royalty payments for the quarter.

Explanation: