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A store purchased 20 coats that each costs an equal amount

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Director
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A store purchased 20 coats that each costs an equal amount [#permalink] New post 10 Jun 2007, 00:10
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A store purchased 20 coats that each costs 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?

( i ) 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.

( ii ) If the selling price per coat had been $2 more, the store's gross profit on the 20 coats would have been $440.
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Re: DS-Profit Loss [#permalink] New post 10 Jun 2007, 00:49
LM wrote:
A store purchased 20 coats that each costs 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?

( i ) 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.

( ii ) If the selling price per coat had been $2 more, the store's gross profit on the 20 coats would have been $440.



For (C)

p = purchasing price
s = selling price

=> 20(s - p) =?

(1) 20(2s - p) = 2,400 => insuff
(2) 20(s + 2 - p) = 440 => insuff

(1) & (2) => can firgure out s & p => suff
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 [#permalink] New post 13 Jun 2007, 13:12
B

cost of one coat = x
selling price of one coat = y

i) 2y - x = 2400/20
=> 2y - x = 120
insuf

ii) y+2 - x = 440/20
=> y - x = 22 - 2 = 20
so selling price - cost price = 20

so profit = 20 * 20 = 400.

suff.
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 [#permalink] New post 14 Jun 2007, 00:19
B

20(p-c) = ?
1) (2p-c)*20=2400
2p-c=120
p-c=?
insuff

2) (p+2-c)*20=440
p-c+2=22
p-c=20
20(p-c)=400

suff


Anyone can get A?
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 [#permalink] New post 14 Jun 2007, 00:24
Statement 1:
20(2n) - 20p = 2400
40n-20p = 2400
2n-p = 120 ---[1]
Insufficient.

Statement 2:
20(n+2)-20p = 440
20n+40-20p = 440
n-p = 20
Sufficient.

Ans B
  [#permalink] 14 Jun 2007, 00:24
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A store purchased 20 coats that each costs an equal amount

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