A kind of folder was priced at 50 cents, but did not sell. The manager of the store decided to reduce the price to sell them. Within a short time, she had sold all of the folders in her inventory for a total of $31.93. What was the reduced price of the folder? How many folders did she have?
(Source: “Menu of Problems”, Mathematics Teaching in the Middle School, 6(5). January, 2001)