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Senior Manager
Senior Manager
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Joined: 30 May 2005
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shoe retailer [#permalink] New post 14 Jun 2005, 05:22
. :) hello
how do you approach this one
thanks
In 1985 a company sold a brand of shoes to retailers for a fixed price per pair. In 1986 the number of pairs of the shoes that the company sold to retailers decreased by 20 percent, while the price per pair increased by 20 percent. If the company’s revenue from the sale of the shoes in 1986 was $3.0 million, what was the approximate revenue from the sale of the shoes in 1985 ?
(A) $2.4 million
(B) $2.9 million
(C) $3.0 million
(D) $3.1 million
(E) $3.6 million
Manager
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 [#permalink] New post 14 Jun 2005, 06:03
mandy the answer will be either A or B not sure which one but the answer will be less then choice C
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Re: shoe retailer [#permalink] New post 14 Jun 2005, 11:27
mandy wrote:
. :) hello
how do you approach this one
thanks
In 1985 a company sold a brand of shoes to retailers for a fixed price per pair. In 1986 the number of pairs of the shoes that the company sold to retailers decreased by 20 percent, while the price per pair increased by 20 percent. If the company’s revenue from the sale of the shoes in 1986 was $3.0 million, what was the approximate revenue from the sale of the shoes in 1985 ?
(A) $2.4 million
(B) $2.9 million
(C) $3.0 million
(D) $3.1 million
(E) $3.6 million


let x be the no. of pairs and y be the price per pair in '85.
then in '86 the no of pairs in .8x and the price is 1.2 y,
i.e (.8x)*(1.2y) = 3 million, or (.96)xy = 3 million.
we want the revenue in '85 ie xy. so use the above to get it.

HMTG.
Re: shoe retailer   [#permalink] 14 Jun 2005, 11:27
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