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E
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Difficulty:
15%
(low)
Question Stats:
82% (01:50) correct
18%
(02:07)
wrong
based on 3410
sessions
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Time
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A bicycle store purchased two bicycles, one for $250 and the other for $375, and sold both bicycles at a total gross profit of $250. If the store sold one of the bicycles for $450, which of the following could be the store's gross profit from the sale of the other bicycle?
A. $75
B. $100
C. $125
D. $150
E. $175
(PS02007)
A. $75
B. $100
C. $125
D. $150
E. $175
(PS02007)
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25 Jun 2018, 04:57
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Solution
Given:
- • A bicycle store purchased two bicycles, one for $250 and the other for $375, and sold both bicycles at a total gross profit of $250
• One of the bicycles was sold for $450
To find:
- • Among the given options, which one can be the store’s gross profit from the other bicycle
Approach and Working:
If the first bicycle was sold for $450, then
- • Profit on first bicycle = 450 – 250 = 200
• Hence, profit on second bicycle = 250 – 200 = 50 (not in the option)
If the second bicycle was sold for $450, then
- • Profit on second bicycle = 450 – 375 = 75
• Hence, profit on first bicycle = 250 – 75 = 175
Hence, the correct answer is option E.
Answer: E
28 Jun 2018, 18:12
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Bunuel
We can assume that the $375 bicycle is sold for $450. So the profit on this bicycle is 450 - 375 = $75. Since the total profit is $250, the other bicycle must be sold for a profit of 250 - 75 = $175.
Alternate Solution:
The total cost of the bicycles to the store is 250 + 375 = $625.
Since the total profit is $250, the sum of the sale prices of the bicycles is 625 + 250 = $875.
Since one of the bicycles sold for $450, the other sold for 875 - 450 = $425.
If the bike costing $250 is sold for $425, the profit is 425 - 250 = $175.
If the bike costing $375 is sold for $425, the profit is 425 - 375 = $50.
$175 is among the answer choices, thus the answer is E.
Answer: E
