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Solution



Given:
    • Each of the 7 books are available at an individual price of $8
    • The set of all the 8 books together is available at a price of $60
    • The price of the 8th book is $8

To find:
    • The savings percentage, when the whole set is bought, compared to when the books are bought individually

Approach and Working:
As each of the books individually costs $8,
    • The total price of all the 8 books, when bought individually = 8 * 8 = $64

But, if the set is bought, the price is $60
    • Hence, the savings percentage = \(\frac{64 – 60}{64} * 100 = \frac{4}{64} * 100 = \frac{1}{16} * 100\) = 6.25%

Hence, the correct answer is option B.

Answer: B

Important Note Related to the Article


While calculating the savings percentage, one needs to be careful while choosing the base of the percentage calculation. The buyer is making the savings with respect to the price he was supposed to pay, if he had to buy all books individually.
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3 Major Concerns Students Face in Solving Percentage Problems - Exercise Question #1


All the 7 books of the fictional character series Horry Patter are individually available at a price of $8 each. However, at the time of the launch of the 8th book, the publisher also made available the set of all 8 books together at a limited-edition price of $60 for the whole set. If the 8th book is also of the same price as previous 7, what is savings percentage for Harry, who bought the whole set together?

    A. 5%
    B. 6.25%
    C. 6.67%
    D. 7.25%
    E. 8%




Price of each book =$8
Total books= 8
Original Price =$64
Special price =$60
Percentage saved = 4/64*100= 100/16 = 25/4 = 6.25%
B is the answer
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