A supplier offers a discount on a product bought in bulk. If you buy 240 parts, you get a $5 discount on each part, which reduces the cost to the same as buying 200 parts at full price. How much is each part?

Let $x = the full price for a part.

200 parts at full price costs $x * 200 = 200x dollars

240 parts will have $5 discount per part. The cost is

240 (x - 5) = 240x - 1200 dollars

The two costs are the same, therefore

240x - 1200 = 200x

40x = 1200

x = $30

Answer: $30