A store purchased 20 coats that each cost an equal amount : Quant Question Archive [LOCKED]
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# A store purchased 20 coats that each cost an equal amount

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

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20 Oct 2006, 01:09
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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 been $2,400 (2) If the selling price per coat had been$2 more, the store's gross proft on the 20 coats would have been $440 OA is B. But my answer is D. Isn't (1) also sufficient? GP = gross profit = price*quantity GP = 20p Given (1), 20(2p) =$2,400 --> then you can solve for p. Am i understanding the problem incorrectly?
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20 Oct 2006, 03:36
I think it's (B)

The profit gross = (The Sell Price per unit - The Purschase Price per unit )*Quantity of unit
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20 Oct 2006, 10:27

20(Y-X)

1 says : 40Y - 20X = 2400.........INSUFF
2 says : 20Y - 20X = 400...........SUFF

Hence B
20 Oct 2006, 10:27
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