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    This is what I did - calculate 75% of £16 = £12
    Then do 9672/12 but the answer says to Add printing cost and this to calculate income?

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    Anyone??
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    Worked Solution

    1. Recall that Total Profit = Total Revenue - Total Costs
    2. Therefore Total Revenue = Total Profit + Total Costs
    3. Calculate Total Revenue = £9,672 + £34,500 = £44,172
    4. Recall that Total Sales = Total Revenue divided by 75% of Recommended Retail Price, as he was paid that amount by the bookstore.
    5. Calculate Total Sales = £44,172/£12 per book = 3,681 books
    6. The answer corresponds with (c)

    A majority of the printing costs information is not relevant for this question, just the retail data.

    If it helps, consider this question - "is it possible for the publisher to make no profit but still sell some amount of books?" Should the amount of books sold be just enough to cover the cost, some books will be sold (therefore the answer will be non-zero) but no profit will be made.

    If you focused on the profit alone, using your logic, the calculation would be £0/£12 per book which equals zero books. That gives you an indication that the logic gives us an absurd answer and there's a methodological error.
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    (Original post by Rather_Cynical)
    Worked Solution

    1. Recall that Total Profit = Total Revenue - Total Costs
    2. Therefore Total Revenue = Total Profit + Total Costs
    3. Calculate Total Revenue = £9,672 + £34,500 = £44,172
    4. Recall that Total Sales = Total Revenue divided by 75% of Recommended Retail Price, as he was paid that amount by the bookstore.
    5. Calculate Total Sales = £44,172/£12 per book = 3,681 books
    6. The answer corresponds with (c)

    A majority of the printing costs information is not relevant for this question, just the retail data.

    If it helps, consider this question - "is it possible for the publisher to make no profit but still sell some amount of books?" Should the amount of books sold be just enough to cover the cost, some books will be sold (therefore the answer will be non-zero) but no profit will be made.

    If you focused on the profit alone, using your logic, the calculation would be £0/£12 per book which equals zero books. That gives you an indication that the logic gives us an absurd answer and there's a methodological error.
    Thank you very much, still tryna get my head around it. Think I'll learn that formula
 
 
 
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Updated: July 14, 2016
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