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A company makes a profit of 6 percent on its first $1,000 of sales eac

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A company makes a profit of 6 percent on its first $1,000 of sales eac [#permalink]

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A company makes a profit of 6 percent on its first $1,000 of sales each day, and 5 percent on all sales in excess of $1,000 for that day. How many dollars in profit will the company make on a day when sales are S dollars if S is greater than 1,000?

(A) 0.05S
(B) 0.06S
(C) 110
(D) 10 + 0.05S
(E) 60 + 0.05S
[Reveal] Spoiler: OA

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Re: A company makes a profit of 6 percent on its first $1,000 of sales eac [#permalink]

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New post 31 Oct 2017, 00:51
Bunuel wrote:
A company makes a profit of 6 percent on its first $1,000 of sales each day, and 5 percent on all sales in excess of $1,000 for that day. How many dollars in profit will the company make on a day when sales are S dollars if S is greater than 1,000?

(A) 0.05S
(B) 0.06S
(C) 110
(D) 10 + 0.05S
(E) 60 + 0.05S


6% of 1000 = 60 and 5% of S-1000 is (S/20) - 50

60 - 50 + 0.05S

D
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Re: A company makes a profit of 6 percent on its first $1,000 of sales eac [#permalink]

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New post 01 Nov 2017, 17:07
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Bunuel wrote:
A company makes a profit of 6 percent on its first $1,000 of sales each day, and 5 percent on all sales in excess of $1,000 for that day. How many dollars in profit will the company make on a day when sales are S dollars if S is greater than 1,000?

(A) 0.05S
(B) 0.06S
(C) 110
(D) 10 + 0.05S
(E) 60 + 0.05S


We can create the expression for the total profit earned:

0.06(1000) + 0.05(S - 1000)

60 + 0.05S - 50

0.05S + 10

Answer: D
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Re: A company makes a profit of 6 percent on its first $1,000 of sales eac [#permalink]

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New post 01 Nov 2017, 19:00
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\(\frac{6}{100}\)*1000+\(\frac{5}{100}\)*(S-1000)

60+0.05S-50
10+0.05S

Answer:D.
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Re: A company makes a profit of 6 percent on its first $1,000 of sales eac [#permalink]

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New post 02 Nov 2017, 04:39
Bunuel wrote:
A company makes a profit of 6 percent on its first $1,000 of sales each day, and 5 percent on all sales in excess of $1,000 for that day. How many dollars in profit will the company make on a day when sales are S dollars if S is greater than 1,000?

(A) 0.05S
(B) 0.06S
(C) 110
(D) 10 + 0.05S
(E) 60 + 0.05S


Or just plug in some values to find out:

Say S = 1100
For the first 1000, profit is 6% i.e. $60
For the next 100, profit is 5% i.e. $5
Total profit is $65

Plug in 1100 in the options and you see that option (D) will give you 65.

Answer (D)
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Kudos [?]: 17853 [0], given: 235

Re: A company makes a profit of 6 percent on its first $1,000 of sales eac   [#permalink] 02 Nov 2017, 04:39
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