A bookstore bought 120 different novels at an average price of ₹145. It sold 40 novels at 20% profit, 60 novels at 10% loss, and the rest were sold in a combo deal that included a 30% profit on the total cost of those remaining novels. What was the selling price per novel in the combo deal?
Show answer & explanation
Correct answer: D
Explanation
Given:
Total novels = 120
Average purchase price = 145
40 novels at 20% profit
60 novels at 10% loss
Remaining novels = 20
Profit on combo deal = 30%
Formula:
Total purchase price = Average × Number
Total purchase price = 145 × 120 = 17400
Cost price of 40 novels = 40 × 145 = 5800
Selling price = 5800 × 120 / 100 = 6960
Cost price of 60 novels = 60 × 145 = 8700
Selling price = 8700 × 90 / 100 = 7830
Cost price of 20 novels = 20 × 145 = 2900
Selling price of combo deal = 2900 × 130 / 100 = 3770
Selling price per novel = 3770 / 20 = 188.5