How do you solve this Math Word Problem: Managing a Bookstore?

Question

A bookstore sells a history book for $65. If the bookstore make a profit of 30% on each book, what does the bookstore pay the publisher for each book?

(hint: the retail price = the wholesale price + the markup)

From the back of my book, the answer is $50 :)

Answer 1

I guess you could use fractions to illustrate the problem

Make "x" the dollars before the markup.

You know that the book costs $65 after a 30% markup. Because the wholesale price of the book would be 100% cost, the book at 65$ can be represented as 130% above cost.

65$ / x$ = 130% / 100%
(65$) (100%) = (130%) (x$) (cross multiply)
65$ ( 100% / 130%) = x$ (divide 130% from both sides)
x$ = 50$ (simplify)

Now to check, you know that the book costs 65$ after the mark up and 50$ before the markup. The profit is 65$-50$=15$.

So the profit divided by the wholesale price times 100% should be the % markup.

15$ / 50$ x 100% = 30% (This was stated in the problem).

Answer 2

$65 x 30% = $19.5

$65 - $19.5 = $45.5

so the bookstore pays the publisher $45.5 per book!

Answer 3

I'm no genius, but isn't 30% of 65 19.50 so he would pay 45.50 for the books?

Answer 4

$50, That was too easy I didn't even need to do any math except thinking it had to be $50 and figuring $15 was 30%.