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During a one day sale, a store sold each sweater of a [#permalink]

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01 Feb 2008, 13:14

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Difficulty:

55% (hard)

Question Stats:

63% (02:07) correct
37% (01:12) wrong based on 75 sessions

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During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270 2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

Re: During a one day sale, a store sold each sweater of a [#permalink]

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01 Feb 2008, 13:27

netcaesar wrote:

During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270 2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

1) insufficient -> total revenue $270, number of sweaters is greater than 9, no info about sweater price 2) insufficient -> cost of sweaters is $60, retail price $90, no total revenue info

Re: During a one day sale, a store sold each sweater of a [#permalink]

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01 Feb 2008, 14:59

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netcaesar wrote:

During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270 2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

(C)

Sale price = $30 + Cost price, or S = $30 + C

1) Insufficient. Each sweater could have been sold for 60 or 230. If n sweaters were sold, we have n*S = 270

2) Insufficient. 50% greater = $30, hence or S = 1.5*C Plugging this in the first equation, we get S = 90, C = 60. But we still don't have n.

Combining (1) & (2): n*90 = 270 or n = 3 _________________

Re: During a one day sale, a store sold each sweater of a [#permalink]

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01 Feb 2008, 15:02

netcaesar wrote:

During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270 2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

1: revenue = profits - cost. 270$=(x+30)z z is the number of sweaters.

we have two unknowns and only 1 equation insuff.

2: x= cost. x+30=1.5x --> x=60 Thus total price is 90$. Insuff though b/c we dont know the revenue.

Re: During a one day sale, a store sold each sweater of a [#permalink]

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07 Sep 2010, 14:19

I didn't follow this one. could someone explain this? _________________

But there’s something in me that just keeps going on. I think it has something to do with tomorrow, that there is always one, and that everything can change when it comes. http://aimingformba.blogspot.com

Re: During a one day sale, a store sold each sweater of a [#permalink]

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07 Sep 2010, 14:39

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Expert's post

aiming4mba wrote:

I didn't follow this one. could someone explain this?

During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. How many of thses sweaters were sold during the sale?

(1) During the sale, the total revenue from the sale of these sweaters was $270.

(2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

Given: \(p=c+30\)

(1) Revenue = price * # of sweaters sold --> \(270=p*n=(c+30)n\). Not sufficient to determine \(n\).

(2) \(p=1.5c=c+30\) --> \(c=60\). Not sufficient.

(1)+(2) \(c=60\) and \(270=(c+30)n=90n\) --> \(n=3\). Sufficient.

Re: During a one day sale, a store sold each sweater of a [#permalink]

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25 Feb 2015, 07:11

Bunuel wrote:

aiming4mba wrote:

I didn't follow this one. could someone explain this?

During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. How many of thses sweaters were sold during the sale?

(1) During the sale, the total revenue from the sale of these sweaters was $270.

(2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

Given: \(p=c+30\)

(1) Revenue = price * # of sweaters sold --> \(270=p*n=(c+30)n\). Not sufficient to determine \(n\).

(2) \(p=1.5c=c+30\) --> \(c=60\). Not sufficient.

(1)+(2) \(c=60\) and \(270=(c+30)n=90n\) --> \(n=3\). Sufficient.

Answer: C.

Dear Bunuel,I follow the below way to answer the above question and I do not know what is the wrong in my way?

we have that (Selling price per unit) - (Cost price per unit) = (Gross profit from one unit)= 30

270= (Selling price per unit - Cost price per unit)*# of sweaters sold

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