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A merchant paid $300 for a shipment of x identical [#permalink]
10 Feb 2004, 12:29
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A merchant paid $300 for a shipment of x identical calculators. The merchant used 2 of the calculators as demonstrators and sold each of the others for $5 more than the average (arithmetic mean) cost of the x calculators. If the total revenue from the sale of the calculators was $120 more than the cost of the shipment, how many calculators were in the shipment?
Could someone tell me how to solve this with an equation..I tried backsolving and got the answer.
Cost per calculator = 300/x
New cost = 5 + 300/x
No of calculators = (x-2)
Total cost = 300+120 = 420
(5+300/x)(x-2) = 420
x^2-26x-120 = 0
so x = 30
So there were 30 calculators in the original shipment