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

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Director
Joined: 03 Sep 2006
Posts: 885
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A store purchased 20 coats that each costs an equal amount [#permalink]  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. Manager Joined: 02 May 2007 Posts: 152 Followers: 1 Kudos [?]: 5 [0], given: 0 Re: DS-Profit Loss [#permalink] 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
Intern
Joined: 02 Jun 2007
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[#permalink]  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.
Senior Manager
Joined: 04 Mar 2007
Posts: 442
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[#permalink]  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?
GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5078
Location: Singapore
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[#permalink]  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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