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A corporation with 5,000,000 shares of publicly listed stock

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Joined: 12 Feb 2007
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A corporation with 5,000,000 shares of publicly listed stock [#permalink] New post 17 Mar 2007, 10:50
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E

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14. A corporation with 5,000,000 shares of publicly listed stock reported total earnings of $7.20 per share for the first 9 months of operation. During the final quarter the number of publicly listed shares was increased to 10,000,000 shares, and fourth quarter earnings were reported as $1.25 per share. What are the average annual earnings per share based on the number of shares at the end of the year?
(A) $1.83
(B) $2.43
(C) $4.85
(D) $8.45
(E) $9.70





20. A merchant purchased a jacket for $60 and then determined a selling price that equalled the purchase price of the jacket plus a markup that was 25 percent of the selling price. During a sale, the merchant discounted the selling price by 20 percent and sold the jacket. What was the merchant’s gross profit on this sale?
(A) $0
(B) $3
(C) $4
(D) $12
(E) $15





2. One night 18 percent of the female officers on a police force were on duty. If 180 officers were on duty that night and half of these were female officers, how many female officers were on the police force?
(A) 90
(B) 180
(C) 270
(D) 500
(E) 1,000





19. A merchant paid $300 for a shipment of x identical calculators. The merchant used 2 of the calculators as demonstrators and sold each of the others for $5 more than the average (arithmetic mean) cost of the x calculators. If the total revenue from the sale of the calculators was $120 more than the cost of the shipment, how many calculators were in the shipment?
(A) 24
(B) 25
(C) 26
(D) 28
(E) 30



Company X Company Y
Prince $75 $530


Surcharge as a
Percent of Price 4% 3%

Installation
Charge $82.50 $93.00


9. The table above shows the various charges made by two companies for the same air conditioner. What is the total amount that can be saved on the purchase and installation of the air conditioner by dealing with the company that offers the lower total charge?
(A) $41.60
(B) $45.00
(C) $50.75
(D) $55.75
(E) $61.25






These are such easy questions and I don't even understand how to solve them. I have 1 month to fix both these, and my careless errors. Pretty good for a physics major huh...

Last edited by Tuneman on 18 Mar 2007, 11:02, edited 3 times in total.
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 [#permalink] New post 19 Mar 2007, 21:26
Quote:
14. A corporation with 5,000,000 shares of publicly listed stock reported total earnings of $7.20 per share for the first 9 months of operation. During the final quarter the number of publicly listed shares was increased to 10,000,000 shares, and fourth quarter earnings were reported as $1.25 per share. What are the average annual earnings per share based on the number of shares at the end of the year?
(A) $1.83
(B) $2.43
(C) $4.85
(D) $8.45
(E) $9.70

7.2*5 = 36
1.25*10 = 12.5
36+12.5 = 48.5
48.5/10 = 4.85
C
Quote:
20. A merchant purchased a jacket for $60 and then determined a selling price that equalled the purchase price of the jacket plus a markup that was 25 percent of the selling price. During a sale, the merchant discounted the selling price by 20 percent and sold the jacket. What was the merchant’s gross profit on this sale?
(A) $0
(B) $3
(C) $4
(D) $12
(E) $15

pp = 60
sp = 60 + sp/4 => 4sp = 240 + sp => sp = 80
80(.2) = 16
80 - 16 = 64
64 - 60 = 4
C
Quote:
2. One night 18 percent of the female officers on a police force were on duty. If 180 officers were on duty that night and half of these were female officers, how many female officers were on the police force?
(A) 90
(B) 180
(C) 270
(D) 500
(E) 1,000

180/2 = 90 women
.18(x) = 90
x = 500
D
Quote:
19. A merchant paid $300 for a shipment of x identical calculators. The merchant used 2 of the calculators as demonstrators and sold each of the others for $5 more than the average (arithmetic mean) cost of the x calculators. If the total revenue from the sale of the calculators was $120 more than the cost of the shipment, how many calculators were in the shipment?
(A) 24
(B) 25
(C) 26
(D) 28
(E) 30

The merchant used 2 of the calcs. so x - 2 is the total # of calcs left
x-2(5 + 300/x) [and sold each of the others for $5 more than the avg cost of the x calcs, 300/x is the avg. cost]
x-2(5+300/x) = 300 + 120 [the total revenue from the sale of the calculators was $120 more than the cost of the shipment]
(x-2)(5+300/x) = 300 + 120 = (x-30)(x+4) = 0 => x = 30
E

I'm not sure what to make of # 9. Am I missing something?
  [#permalink] 19 Mar 2007, 21:26
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