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A merchant paid $300 for a shipment of x identical  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Manager Joined: 05 Sep 2007 Posts: 144 Location: New York Followers: 1 Kudos [?]: 19 [0], given: 0 A merchant paid$300 for a shipment of x identical  [#permalink]  22 Mar 2008, 14:52
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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 Senior Manager Joined: 01 Feb 2005 Posts: 274 Followers: 1 Kudos [?]: 40 [0], given: 1 Re: PS: Calculators [#permalink] 22 Mar 2008, 16:57 Answer is 30 (E) I chose numbers 300/x = average price of each calculator. Chose x = 30 Therefore each calculator costs 10 dollars. If the person kept 2 calculators and sold the remaining for 5 more dollars than he brought it (15 dollars) Then 28 calculators * 15 = 420. 420 - 300 = 120 dollars profit which is the additional revenue he made (from the statement of the problem). Manager Joined: 05 Sep 2007 Posts: 144 Location: New York Followers: 1 Kudos [?]: 19 [0], given: 0 Re: PS: Calculators [#permalink] 22 Mar 2008, 18:03 is there another way to solve it? Manager Joined: 02 Mar 2008 Posts: 211 Concentration: Finance, Strategy Followers: 1 Kudos [?]: 40 [0], given: 1 Re: PS: Calculators [#permalink] 22 Mar 2008, 18:23 300 =x.cost 420 = (x-2)(5+300/x) -> reduce to x-120/x=26 Then choose x>26 and x is divisible by 120 ->30 (or u solve the quadratic eqn) Re: PS: Calculators [#permalink] 22 Mar 2008, 18:23 Similar topics Replies Last post Similar Topics: 3 A merchant paid$300 for a shipment of x identical 7 21 Apr 2012, 20:18
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A merchant paid $300 for a shipment of x identical 1 06 Apr 2006, 18:50 A merchant paid$300 for a shipment of x identical 2 26 Feb 2006, 09:41
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