ChandlerBong wrote:
A bookstore bought 24 books, each at an equal price. Each of the first 20 books was sold at the same price and each of the remaining 4 books was sold at a 50% higher price. Was the profit on the sale of 24 books greater than $240?
(A) The profit on each of the 20 books was $10.
(B) If the selling price had been $4 more per book for all 24 books, the overall profit would have been $376.
- Let the cost price of each book = c
- The selling price of the first 20 books = s
- The selling price of the remaining 4 books = 1.5s
Question20*s + 4*(1.5s) - 24c > 240
26s - 24c > 240
Therefore, we need to find out whether
26s - 24c > 240Statement 1(A) The profit on each of the 20 books was $10.Statement 1 tells us
s - c = 10
Multiplying by 26 on both sides, we get -
26s - 26c = 260
So, if we subtract 26c from 26s, the difference is 260. Now, if we subtract 24c from 26s the difference would be more than 260.
Hence 26s - 24c > 260
This helps answer the question - "Is 26s - 24c > 240".
The statement is sufficient and we can eliminate B, C and E.
Statement 2(B) If the selling price had been $4 more per book for all 24 books, the overall profit would have been $376.- New selling price of the first 20 books = s + 4
- New selling price of the remaining 4 books = 1.5s + 4
Profit =
20(s+4) + 4(1.5s + 4) - 24c = 376
26s - 24c + 96 = 376
26s - 24c = 260
This also helps answer the question - "Is 26s - 24c > 240" Hence the statement is sufficient.
Option D