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# A store purchased 20 coats that each cost an equal amount

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Joined: 01 Oct 2006
Posts: 493

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A store purchased 20 coats that each cost an equal amount [#permalink]

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05 Nov 2006, 07:09
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A store purchased 20 coats that each cost an equal amount and then sold coats at an equal price. What is store's gross profit on the 20 coats?

1 If selling price per coat has been twice as much the store's gross profit would have been \$2400

2 if selling price per coat was \$2 more, the stores profit would have been \$440

Kudos [?]: 44 [0], given: 0

Retired Moderator
Joined: 05 Jul 2006
Posts: 1748

Kudos [?]: 447 [0], given: 49

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05 Nov 2006, 07:12
A store purchased 20 coats that each cost an equal amount and then sold coats at an equal price. What is store's gross profit on the 20 coats?

1 If selling price per coat has been twice as much the store's gross profit would have been \$2400

2 if selling price per coat was \$2 more, the stores profit would have been \$440

cost = 20x

sales price =20y

profit = 20(y-x)

from one

40y - 20x = 2400

20y - x = 120.......insuff

from two

20(y+2) - 20x = 440

y+2-1 = 22

y = 23......suff

Kudos [?]: 447 [0], given: 49

05 Nov 2006, 07:12
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