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# A store purchased 20 coats that each cost an equal amount

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A store purchased 20 coats that each cost an equal amount [#permalink]

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26 Jan 2011, 08:30
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75% (hard)

Question Stats:

55% (02:20) correct 45% (01:18) wrong based on 88 sessions

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A store purchased 20 coats that each cost an equal amount and then sold each of the 20 coats at an equal price. What was the store’s gross profit on 20 coats?
1) If the selling price per coat had been twice as much , the store’s gross profit on the 20 coats would have been $2,400 2) If the selling price per coat had been$2 more, the store’s gross profit on the 20 coats would have been $440 [Reveal] Spoiler: OA Math Expert Joined: 02 Sep 2009 Posts: 33547 Followers: 5944 Kudos [?]: 73744 [2] , given: 9903 Re: GMAT PREP Gross Profit [#permalink] ### Show Tags 26 Jan 2011, 08:59 2 This post received KUDOS Expert's post 3 This post was BOOKMARKED A store purchased 20 coats that each cost an equal amount and then sold each of the 20 coats at an equal price. What was the store’s gross profit on 20 coats? Question: 20*selling price - 20*cost = ? --> 20*(s - c) = ? So basically we are asked to determine the value of s - c. (1) If the selling price per coat had been twice as much , the store’s gross profit on the 20 coats would have been$2,400 --> 20*2s - 20c = 2,400 --> 2s - c = 120 --> not sufficient to calculate s - c.

(2) If the selling price per coat had been $2 more, the store’s gross profit on the 20 coats would have been$440 --> 20*(s + 2) - 20c = 440 --> 20s + 40 - 20c = 440 --> s - c = 20. Sufficient.

Or you can deal with this statement in another way: increasing the price per coat by $2 will give a store an additional 20*2$=$40, so the profit without this increase should be 440-40=$400. Sufficient.

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Gross profit on Coat [#permalink]

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08 Mar 2011, 13:37
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Re: Gross profit on Coat [#permalink]

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08 Mar 2011, 13:40
Expert's post
Merging similar topics.
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Re: GMAT PREP Gross Profit [#permalink]

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08 Mar 2011, 20:06
The question is asking :

20(SP - CP) = ?

From (1) -> 20(2SP - CP) = 2400, not sufficient

From (2) -> 20 (SP + 2 - CP) = 440, sufficient

So the answer is B.
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Re: A store purchased 20 coats that each cost an equal amount [#permalink]

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10 Dec 2014, 09:47
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: A store purchased 20 coats that each cost an equal amount   [#permalink] 10 Dec 2014, 09:47
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# A store purchased 20 coats that each cost an equal amount

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