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A merchant paid $300 for a shipment of x identical

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Manager
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Joined: 05 Sep 2007
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A merchant paid $300 for a shipment of x identical  [#permalink] New post 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
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Joined: 01 Feb 2005
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Kudos [?]: 30 [0], given: 1

Re: PS: Calculators [#permalink] New post 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
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Posts: 146
Location: New York
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Re: PS: Calculators [#permalink] New post 22 Mar 2008, 18:03
is there another way to solve it?
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Joined: 02 Mar 2008
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Concentration: Finance, Strategy
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Re: PS: Calculators [#permalink] New post 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
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