Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

09 Oct 2008, 10:08

7

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

5% (low)

Question Stats:

83% (02:53) correct
17% (01:46) wrong based on 206 sessions

HideShow timer Statictics

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks![/quote]

TOTAL SALE PRICE - TOTAL COST / NO OF RADIOS SOLD = AVERAGE PROFIT /RADIO

TOTAL COST = 21,600, TOTAL SALE PRICE = 720*30+480*15 = 21600+7200 = 28800

FACTOR, FACTOR, FACTOR! Fractorization is your best friend (Do NOT attempt to solve equation, especially any multiplication until all the factorization is completed.)

The approach shows many details, but in reality all you need is the first line: "( (1200*18)+(1200*6)-(1200*18) ) / 1200", which should give you '6' right away after you cross them out.

The only arithmetics I had to do were "3/5 * 30 = 18" and "2/5 * 15 = 6" Do simple arithmetic as you read the question! 18 and 6 were already written on my scratch paper by the time I read the word, "average" in the last sentense 1200 was never even involved The whole process should not take more than 30 sec.

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Key to solve this question: - Do not multiply 1,200 with the list price. It will make much longer to solve the problem. - Try to set up basic equation to see the best possible way to solve the problem.

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

17 Oct 2013, 21:45

7

This post received KUDOS

Expert's post

3

This post was BOOKMARKED

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Responding to a pm:

Yes, you can use weighted average here. You want to find the average selling price. 60% of radios were sold at $30 and 40% at $15. Average selling price = (30*0.6 + 15*0.4)/1 = 24 Average cost price = $18

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

18 Oct 2013, 00:25

VeritasPrepKarishma wrote:

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Responding to a pm:

Yes, you can use weighted average here. You want to find the average selling price. 60% of radios were sold at $30 and 40% at $15. Average selling price = (30*0.6 + 15*0.4)/1 = 24 Average cost price = $18

Average profit = $6

Thanks karishma, I was able to identify weighted average concept here,but was unable to proceed.

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

18 Oct 2013, 00:44

VeritasPrepKarishma wrote:

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Responding to a pm:

Yes, you can use weighted average here. You want to find the average selling price. 60% of radios were sold at $30 and 40% at $15. Average selling price = (30*0.6 + 15*0.4)/1 = 24 Average cost price = $18

Average profit = $6

Using scale method

15$----4-----Average S.P-----6-----30$

W1:W2 = 3:2

Average S.P = 15 + (3/5 X 15) = 24 Average profit = S.P - C.P = 24 - 18 = 6

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

16 Dec 2013, 14:29

1

This post received KUDOS

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

60% for a profit of 12 40% for a loss of -3

Ratio is 3:2 between both Now then, 12(3)-3(2)=30 So average 30/5=6

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

04 Apr 2015, 09:13

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).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

25 Sep 2015, 08:06

VeritasPrepKarishma wrote:

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Responding to a pm:

Yes, you can use weighted average here. You want to find the average selling price. 60% of radios were sold at $30 and 40% at $15. Average selling price = (30*0.6 + 15*0.4)/1 = 24 Average cost price = $18

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

28 Sep 2015, 02:47

Expert's post

1

This post was BOOKMARKED

earnit wrote:

VeritasPrepKarishma wrote:

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Responding to a pm:

Yes, you can use weighted average here. You want to find the average selling price. 60% of radios were sold at $30 and 40% at $15. Average selling price = (30*0.6 + 15*0.4)/1 = 24 Average cost price = $18

Re: A wholesaler bought 1,200 radios for $18 each. The [#permalink]

Show Tags

25 Nov 2015, 14:58

VeritasPrepKarishma wrote:

vksunder wrote:

A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?

A. $2 B. $3 C. $4 D. $5 E. $6

This is an easy question but I wasnt able to complete it under 2 mins. Is there a shortcut? Thanks!

Responding to a pm:

Yes, you can use weighted average here. You want to find the average selling price. 60% of radios were sold at $30 and 40% at $15. Average selling price = (30*0.6 + 15*0.4)/1 = 24 Average cost price = $18

Average profit = $6

why do we divide by 1 to get the $24?

gmatclubot

Re: A wholesaler bought 1,200 radios for $18 each. The
[#permalink]
25 Nov 2015, 14:58

So, my final tally is in. I applied to three b schools in total this season: INSEAD – admitted MIT Sloan – admitted Wharton – waitlisted and dinged No...

HBS alum talks about effective altruism and founding and ultimately closing MBAs Across America at TED: Casey Gerald speaks at TED2016 – Dream, February 15-19, 2016, Vancouver Convention Center...