Problema Solution
The audio Outlet purchased 60 cassette recorders, gave away three in a contest, and sold the rest at twice their purchase price. If the store's total profit was $1188, how much did the store sell each recorder for?
Answer provided by our tutors
Let p be the price that they paid for each wholesale.
They spent 60p to buy the 60 recorders.
Then they gave away 3 and sold the other 57 for 2p. That was an income i of 2 * 57p = 114p
Profit is i - t = $1188
But i = 114p, so
114p - 70 p = $1188
54p = $1188
p = $1188 / 54 = $22.....<<<....Original cost of recorders purchased .ANSWER
Now lets check
They spent 22 * $60 = $1320. They gave away 3. That affects nothing. They then sold 57 of them at $44. 57 * $44 = $2,508. So the proit was $2508 - $1320 = $1188