The Strand Book Store in New York recently purchased 60 copied of Fahrenheit 451 at an average price of $250 per book. The store sold 75% of the books at $300 each and sold the remaining books to a book dealer for a lump sum of $2000. What was the net profit or loss of the store ?

Options

A. $ 500 profit
B. $450 profit
C. Neither profit nor loss
D. $ 500 loss

Answer

To find the net profit or loss of the Strand Book Store, we can follow these steps:

### Step 1: Calculate the Total Cost Price (CP)
The store purchased 60 copies of Fahrenheit 451 at an average price of $250 per book.

\[ \text{Total Cost Price} = \text{Number of Books} \times \text{Average Price per Book} \]
\[ \text{Total Cost Price} = 60 \times 250 = 15000 \]

### Step 2: Calculate the Number of Books Sold
The store sold 75% of the books.

\[ \text{Number of Books Sold} = 60 \times \frac{75}{100} = 60 \times 0.75 = 45 \]

### Step 3: Calculate the Selling Price (SP) of the Sold Books
The selling price for each of the 45 books sold is $300.

\[ \text{Selling Price of Sold Books} = \text{Number of Sold Books} \times \text{Selling Price per Book} \]
\[ \text{Selling Price of Sold Books} = 45 \times 300 = 13500 \]

### Step 4: Calculate the Selling Price of Remaining Books
The remaining books (15 books) were sold to a book dealer for a lump sum of $2000.

### Step 5: Calculate the Total Selling Price
Now, we will add the selling price of the sold books and the lump sum received from the dealer.

\[ \text{Total Selling Price} = \text{Selling Price of Sold Books} + \text{Selling Price from Dealer} \]
\[ \text{Total Selling Price} = 13500 + 2000 = 15500 \]

### Step 6: Calculate the Net Profit or Loss
Now, we can find the net profit or loss by subtracting the total cost price from the total selling price.

\[ \text{Net Profit or Loss} = \text{Total Selling Price} - \text{Total Cost Price} \]
\[ \text{Net Profit or Loss} = 15500 - 15000 = 500 \]

### Conclusion
The bookstore made a profit of $500.

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