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26 Jan 2011, 08:30
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
66% (02:01) correct
34%
(02:07)
wrong
based on 1254
sessions
History
Date
Time
Result
Not Attempted Yet
A store purchased 20 coats that each cost an equal amount and then sold each of the 20 coats at an equal price. What was the store’s gross profit on 20 coats?
(1) If the selling price per coat had been twice as much , the store’s gross profit on the 20 coats would have been $2,400
(2) If the selling price per coat had been $2 more, the store’s gross profit on the 20 coats would have been $440
(1) If the selling price per coat had been twice as much , the store’s gross profit on the 20 coats would have been $2,400
(2) If the selling price per coat had been $2 more, the store’s gross profit on the 20 coats would have been $440
26 Jan 2011, 08:59
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A store purchased 20 coats that each cost an equal amount and then sold each of the 20 coats at an equal price. What was the store’s gross profit on 20 coats?
Question: 20*selling price - 20*cost = ? --> 20*(s - c) = ? So basically we are asked to determine the value of s - c.
(1) If the selling price per coat had been twice as much , the store’s gross profit on the 20 coats would have been $2,400 --> 20*2s - 20c = 2,400 --> 2s - c = 120 --> not sufficient to calculate s - c.
(2) If the selling price per coat had been $2 more, the store’s gross profit on the 20 coats would have been $440 --> 20*(s + 2) - 20c = 440 --> 20s + 40 - 20c = 440 --> s - c = 20. Sufficient.
Or you can deal with this statement in another way: increasing the price per coat by $2 will give a store an additional 20*2$=$40, so the profit without this increase should be 440-40=$400. Sufficient.
Answer: B.
Question: 20*selling price - 20*cost = ? --> 20*(s - c) = ? So basically we are asked to determine the value of s - c.
(1) If the selling price per coat had been twice as much , the store’s gross profit on the 20 coats would have been $2,400 --> 20*2s - 20c = 2,400 --> 2s - c = 120 --> not sufficient to calculate s - c.
(2) If the selling price per coat had been $2 more, the store’s gross profit on the 20 coats would have been $440 --> 20*(s + 2) - 20c = 440 --> 20s + 40 - 20c = 440 --> s - c = 20. Sufficient.
Or you can deal with this statement in another way: increasing the price per coat by $2 will give a store an additional 20*2$=$40, so the profit without this increase should be 440-40=$400. Sufficient.
Answer: B.
General Discussion
08 Mar 2011, 20:06
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The question is asking :
20(SP - CP) = ?
From (1) -> 20(2SP - CP) = 2400, not sufficient
From (2) -> 20 (SP + 2 - CP) = 440, sufficient
So the answer is B.
20(SP - CP) = ?
From (1) -> 20(2SP - CP) = 2400, not sufficient
From (2) -> 20 (SP + 2 - CP) = 440, sufficient
So the answer is B.
