From the calculation below, the number of books bought by Mr. Ankomah was 87 books.
Let x represent present the number of books bought.
Therefore, we have:
Number of books sold = x - 12
Total revenue from units sold = Number of books sold * Unit selling price = (x - 12) * 7 = 7x - 84
Total cost of units sold = Number of books sold * Cost price per unit = (x - 12) * 5 = 5x - 60
Profit = Total revenue from units sold - Total cost of units sold ........... (1)
Since he made a profit of Ghc150.00, we substitute all the relevant values into equation (1) and solve for x as follows:
150 = (7x - 84) - (5x - 60)
150 = 7x - 84 - 5x + 60
150 + 84 - 60 = 7x - 5x
174 = 2x
x = 174 / 2
x = 87
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