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7 July, 03:50

The Bookstall Inc. is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each, and hardcover books are $3.50. Of the 50 books sold last Tuesday morning, 40 were paperback and the rest were hardcover. What was the weighted mean price of a book?

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  1. 7 July, 05:30
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    Weighted mean price of books is $ 1.50 per book

    Explanation:

    Sales Value

    Total books sold : 50 books

    Paperbacks sold : 40 books @ $ 1 per book $ 40

    Hardcovers sold 10 books @ $ 3.50 per book $ 35

    Total Sales value $ 75

    No of books sold 50 books

    To get the weighted mean price of books, we divide the total sales value by the number of books sold.

    $ 75 / 50 books = $ 1.50
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