Assignment #12: Show Me The Money
In this assignment, you will have to do math. No, it won't be as scary as it sounds.
Context: A debut author’s book has been picked up by a big mainstream publisher for an advance of Rs 50,000. The publisher will be doing a print run of 2000 books to see interest.
The royalties for the author are 7.5% for less than 5000 copies sold.
The agent gets a 10% commission from what the author makes.
Let’s assume the retail price of a book — what readers pay at a bookstore or on Amazon — is Rs 250. That means the publisher has probably sold the book for cheaper — let’s estimate Rs 200 per book.
If all 2000 copies of the book get sold within the first year, considering the advance, how much money will the author make from royalties?
How much money will the agent make?
Break down the math, show your work, and tell us the final answers.
Submit the assignment as a Word document.
Mathbot Says...
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