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A company produces school bags. The cost for producing the first 1,000
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05 Nov 2019, 01:39
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73% (02:08) correct 28% (02:21) wrong based on 80 sessions
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A company produces school bags. The cost for producing the first 1,000 bags of a particular design, owing to initial expenses, turns out to be $30 per bag. Thereafter, the cost reduces to $10 per bag. If the company produced 5,000 bags of a certain design and sold them all at an average price of $20 per bag, which of the following will represent the best approximation for the percentage profit earned by the company on the expenses incurred in producing these bags? A. 10% B. 20% C. 30% D. 40% E. 50% Are You Up For the Challenge: 700 Level Questions
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Re: A company produces school bags. The cost for producing the first 1,000
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05 Nov 2019, 05:17
CP= (30*1000)+10(4000) = 70000 SP= 20*5000= 10000 Profit % = 3/7*100~43% D is closest and answer.



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Re: A company produces school bags. The cost for producing the first 1,000
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05 Nov 2019, 06:05
Avg cost price of 5000 bags =\(\frac{1*30+4*10}{5}\)= 14 Avg SP of 5000 bags= 20 best approximation for the percentage profit earned by the company on the expenses incurred in producing these bags= \(\frac{2014}{14} *100\)=43% Bunuel wrote: A company produces school bags. The cost for producing the first 1,000 bags of a particular design, owing to initial expenses, turns out to be $30 per bag. Thereafter, the cost reduces to $10 per bag. If the company produced 5,000 bags of a certain design and sold them all at an average price of $20 per bag, which of the following will represent the best approximation for the percentage profit earned by the company on the expenses incurred in producing these bags? A. 10% B. 20% C. 30% D. 40% E. 50% Are You Up For the Challenge: 700 Level Questions



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Re: A company produces school bags. The cost for producing the first 1,000
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05 Nov 2019, 06:58
CP = 3*10^4+4*10^4 ; 7*10^4 SP = 10^5 % profit = 10^57*10^4/ 7*10^4 ; 3/7 ; ~40% IMO D Bunuel wrote: A company produces school bags. The cost for producing the first 1,000 bags of a particular design, owing to initial expenses, turns out to be $30 per bag. Thereafter, the cost reduces to $10 per bag. If the company produced 5,000 bags of a certain design and sold them all at an average price of $20 per bag, which of the following will represent the best approximation for the percentage profit earned by the company on the expenses incurred in producing these bags? A. 10% B. 20% C. 30% D. 40% E. 50% Are You Up For the Challenge: 700 Level Questions



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Re: A company produces school bags. The cost for producing the first 1,000
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05 Nov 2019, 07:23
Bunuel wrote: A company produces school bags. The cost for producing the first 1,000 bags of a particular design, owing to initial expenses, turns out to be $30 per bag. Thereafter, the cost reduces to $10 per bag. If the company produced 5,000 bags of a certain design and sold them all at an average price of $20 per bag, which of the following will represent the best approximation for the percentage profit earned by the company on the expenses incurred in producing these bags? A. 10% B. 20% C. 30% D. 40% E. 50% Are You Up For the Challenge: 700 Level QuestionsCP = 1000*30 + 4000*10 => 30000 + 40000 = 70000 SP = 5000*20 = 100000 So, Profit is 30000 ; Profit % is 3/7*100 ~ 40%, Answer must be (D)
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Re: A company produces school bags. The cost for producing the first 1,000
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11 Nov 2019, 17:28
Bunuel wrote: A company produces school bags. The cost for producing the first 1,000 bags of a particular design, owing to initial expenses, turns out to be $30 per bag. Thereafter, the cost reduces to $10 per bag. If the company produced 5,000 bags of a certain design and sold them all at an average price of $20 per bag, which of the following will represent the best approximation for the percentage profit earned by the company on the expenses incurred in producing these bags? A. 10% B. 20% C. 30% D. 40% E. 50% Are You Up For the Challenge: 700 Level QuestionsSince profit = revenue  cost, the profit is: 5000 x 20  (1000 x 30 + 4000 x 10) 100,000  (30,000 + 40,000) 100,000  70,000 $30,000 Notice that the cost (or expenses) is $70,000; so the profit is 30,000/70,000 = 3/7 ≈ 40% of the expenses. Answer: D
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Re: A company produces school bags. The cost for producing the first 1,000
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