A vendor sells 40 exercise books at GH₵ 5.00 each, making a total profit of GH₵ 50.00. What was her cost per book?
Answer and explanation
Correct answer: D. GH₵ 3.75
- Step 1: Total sales revenue = 40 GH₵ 5.00 = GH₵ 200.00. Total cost = Revenue - Profit = 200 - 50 = GH₵ 150.00. Step 2. Cost per exercise book = GH₵ 150.00 ÷ 40 books = GH₵ 3.75. Answer: GH₵ 3.75. Why not the others:* GH₵ 3.50 gives total cost 140 (profit 60); GH₵ 4.00 gives cost 160 (profit 40); GH₵ 4.25 gives profit 30.
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