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

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Director
Joined: 17 Oct 2005
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A store purchased 20 coats that each cost an equal amount [#permalink]

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19 Dec 2005, 11:45
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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 the 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 benn $2400 2) If the selling price per coat had been$2 more, the store's gross profit on the 20 coats would have been \$440
Senior Manager
Joined: 09 Aug 2005
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19 Dec 2005, 11:52
B

i gives you 20(SP) + Profit = 2400 - 2 variables - insuff
ii gives you SP-CP = 400 - sufficicient to find 20(SP- CP)
Intern
Joined: 22 Nov 2005
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26 Dec 2005, 17:28
huh?
what am i missing?
gross profit (GP) = revenue (SP) - cost of merchandise (CP)
S1 gives:
GP =2400 and SP = 2xCP
so GP = 2xCP - CP = 2400 = CP

I must be brain dead tonight!

BTW I started looking at this site a few weeks ago -- It is very cool and very helpful.
Shoe
26 Dec 2005, 17:28
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