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29 Mar 2021, 09:58
Kudos
Bookmarks
I got this one wrong because I took 1500/600 = 5/2 = 2.5
Doing so seemed more intuitive...
Can someone explain why it dividing the dollar amount by the number of cabbage heads is correct?
Edit: It makes sense now.
I tried framing it like so:
"Cost per cabbage" instead of "cabbage per cost"
Doing so seemed more intuitive...
Can someone explain why it dividing the dollar amount by the number of cabbage heads is correct?
Edit: It makes sense now.
I tried framing it like so:
"Cost per cabbage" instead of "cabbage per cost"
27 May 2023, 06:46
Kudos
Bookmarks
Cost per head = $600 / 1500 = $0.40
On the first day, 2/3 of the heads were sold at a price 25% above the cost per head:
Selling price per head on the first day = $0.40 + 0.25($0.40) = $0.40 + $0.10 = $0.50
The revenue from selling 2/3 of the heads on the first day can be calculated as:
Revenue on the first day = (2/3) * 1500 * $0.50 = 1000 * $0.50 = $500
On the second day, the remaining 1/3 of the heads were sold at a price 10% less than the price per head on the first day:
Selling price per head on the second day = $0.50 - 0.10($0.50) = $0.50 - $0.05 = $0.45
The revenue from selling the remaining 1/3 of the heads on the second day can be calculated as:
Revenue on the second day = (1/3) * 1500 * $0.45 = 500 * $0.45 = $225
The gross profit can be calculated by subtracting the total cost of the shipment from the total revenue:
Gross profit = ($500 + $225) - $600 = $725 - $600 = $125
Therefore, the gross profit on this shipment is $125, which corresponds to option (C).
On the first day, 2/3 of the heads were sold at a price 25% above the cost per head:
Selling price per head on the first day = $0.40 + 0.25($0.40) = $0.40 + $0.10 = $0.50
The revenue from selling 2/3 of the heads on the first day can be calculated as:
Revenue on the first day = (2/3) * 1500 * $0.50 = 1000 * $0.50 = $500
On the second day, the remaining 1/3 of the heads were sold at a price 10% less than the price per head on the first day:
Selling price per head on the second day = $0.50 - 0.10($0.50) = $0.50 - $0.05 = $0.45
The revenue from selling the remaining 1/3 of the heads on the second day can be calculated as:
Revenue on the second day = (1/3) * 1500 * $0.45 = 500 * $0.45 = $225
The gross profit can be calculated by subtracting the total cost of the shipment from the total revenue:
Gross profit = ($500 + $225) - $600 = $725 - $600 = $125
Therefore, the gross profit on this shipment is $125, which corresponds to option (C).
04 Jul 2025, 03:06
Kudos
Bookmarks
Hello from the GMAT Club BumpBot!
Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
