It is currently 20 Oct 2017, 06:11

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

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

Author Message
Director
Joined: 03 Sep 2006
Posts: 865

Kudos [?]: 1070 [0], given: 33

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

### Show Tags

10 Jun 2007, 01:10
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

### HideShow timer Statistics

This topic is locked. If you want to discuss this question please re-post it in the respective forum.

A store purchased 20 coats that each costs an equal amount and then sold each of the 20 coats at an equal price. What was the store's gross profit on the 20 coats?

( i ) 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.

( ii ) If the selling price per coat had been \$2 more, the store's gross profit on the 20 coats would have been \$440.

Kudos [?]: 1070 [0], given: 33

Manager
Joined: 02 May 2007
Posts: 152

Kudos [?]: 5 [0], given: 0

### Show Tags

10 Jun 2007, 01:49
LM wrote:
A store purchased 20 coats that each costs an equal amount and then sold each of the 20 coats at an equal price. What was the store's gross profit on the 20 coats?

( i ) 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.

( ii ) If the selling price per coat had been \$2 more, the store's gross profit on the 20 coats would have been \$440.

For (C)

s = selling price

=> 20(s - p) =?

(1) 20(2s - p) = 2,400 => insuff
(2) 20(s + 2 - p) = 440 => insuff

(1) & (2) => can firgure out s & p => suff

Kudos [?]: 5 [0], given: 0

Intern
Joined: 02 Jun 2007
Posts: 27

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

### Show Tags

13 Jun 2007, 14:12
B

cost of one coat = x
selling price of one coat = y

i) 2y - x = 2400/20
=> 2y - x = 120
insuf

ii) y+2 - x = 440/20
=> y - x = 22 - 2 = 20
so selling price - cost price = 20

so profit = 20 * 20 = 400.

suff.

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

Senior Manager
Joined: 04 Mar 2007
Posts: 431

Kudos [?]: 83 [0], given: 0

### Show Tags

14 Jun 2007, 01:19
B

20(p-c) = ?
1) (2p-c)*20=2400
2p-c=120
p-c=?
insuff

2) (p+2-c)*20=440
p-c+2=22
p-c=20
20(p-c)=400

suff

Anyone can get A?

Kudos [?]: 83 [0], given: 0

GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5034

Kudos [?]: 437 [0], given: 0

Location: Singapore

### Show Tags

14 Jun 2007, 01:24
Statement 1:
20(2n) - 20p = 2400
40n-20p = 2400
2n-p = 120 ---[1]
Insufficient.

Statement 2:
20(n+2)-20p = 440
20n+40-20p = 440
n-p = 20
Sufficient.

Ans B

Kudos [?]: 437 [0], given: 0

14 Jun 2007, 01:24
Display posts from previous: Sort by