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Senior Manager
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ds-store [#permalink] New post 17 Nov 2006, 05:05
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A
B
C
D
E

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(N/A)

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a store purchased 20 coats that each cost an equal amout 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 $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.
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 [#permalink] New post 17 Nov 2006, 07:23
I would say C...there are 2 equations and 2 variables which you can then use to figure it out,
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 [#permalink] New post 17 Nov 2006, 08:23
my answer is B

we need to find

20(S-C), where S is the selling price and C is the cost

Statement 1 gives
20(2S-C)=2400

does not give us a value
INSUFF

Statement 2 gives
20(S+2-C)=440
simplify, we have
20(S-C)=400

SUFF
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 [#permalink] New post 17 Nov 2006, 08:26
Yeah you're right....I haven't had my head on straight giving answers lately
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 [#permalink] New post 17 Nov 2006, 09:04
Getting B
Sell Price = S
Cost Price = C
Profit = P = S – C

In 1) 2S – C = 2400 => S + P = 2400...can’t calculate P

In 2) S + 2 * 20 – C = 440 => S + 40 –C = 440 => S –C = 400 => P = 400
  [#permalink] 17 Nov 2006, 09:04
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