Question

Enid wrote a textbook for high school students. She receives a 5% royalty based on he total sales of the book . The book sells for $51.95 and 12,341 copies were sold last year. How much did Enid receive in royalty payments for last year , to the nearest cent?

Answer 1

The amount of royalties paid is $32055.75.

To find the amount of royalties, we multiply the cost of each book by the number of books, then by 5% (0.05):

51.95(12341)(0.05) = 32055.75.

Answer 2

Enid received $32,055.75  in royalty payments for last year, to the nearest cent.

What is percent?

In mathematics,a percent is a number or ratio expressed as a fraction of 100. It is often denoted using percentage sign "%".

Now it is given that,

Royalty received by Enid = 5% = 0.05.

Selling price of book = $51.95

books sold last year = 12,341

Hence total amount from the books sold last year = Selling price of book x books sold last year

⇒Total amount = $51.95 x 12,341

⇒Total amount = $641,114.95

Since, Royalty received by Enid = 5%

Therefore, Royalty payments received by Enid for last year = 5% of $641,114.95

⇒Royalty payments = 0.05 x $641,114.95

⇒Royalty payments = $32,055.75 to the nearest cent

Hence, Enid received $32,055.75  in royalty payments for last year , to the nearest cent.

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