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gross profit [#permalink] New post 24 May 2009, 09:03
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A bookstore sells new book for $13 each and used book for $5 each. The gross profit on a new book is 30% of the cost. The gross profit on a used book is 100% of the cost. How much gross profit can the bookstore earn from a $67 sale?
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Re: gross profit [#permalink] New post 24 May 2009, 11:26
Sale on $67 can be in this way

13 + 13 + 13 + 13 + 5 + 5 + 5 = 67

On $13 sale bookstore earns $3 gross profit (30% on cost) and on $5 sale it earns $2.5 (100% on cost).

So total profit comes to

3 + 3 + 3 + 3 + 2.5 + 2.5 + 2.5 = 19.5
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Re: gross profit [#permalink] New post 24 May 2009, 14:26
humans wrote:
Sale on $67 can be in this way

13 + 13 + 13 + 13 + 5 + 5 + 5 = 67

On $13 sale bookstore earns $3 gross profit (30% on cost) and on $5 sale it earns $2.5 (100% on cost).

So total profit comes to

3 + 3 + 3 + 3 + 2.5 + 2.5 + 2.5 = 19.5


hey,

how did u get what r in red?
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Re: gross profit [#permalink] New post 24 May 2009, 19:15
13 and 5 are prime number. By trail and error i got to 67.
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Re: gross profit [#permalink] New post 25 May 2009, 01:00
Quote:
hey,

how did u get what r in red?


I assumed couple of things in the question, which I am not sure if right way to do, but otherwise question was also not very clear in details.

As we know the total sale amount is 67 and it comprises $13 and $5 sale.

So I assumed it would comprise atleast one $13 sale so 67-13 = 54 but this is not a multiple of 5 so there may be more than one sale of $13. Tried 54-13 = 41 but this is again not a multiple of 5 so keep on doing this until I get the number which is multiple of 5, which became the number of sales of $5.

Hope this clarifies.
Re: gross profit   [#permalink] 25 May 2009, 01:00
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