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An electrical supplies store sells 140 power stabilizers every week.

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An electrical supplies store sells 140 power stabilizers every week.  [#permalink]

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27 Nov 2016, 01:54
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35% (medium)

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70% (01:45) correct 30% (02:00) wrong based on 148 sessions

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An electrical supplies store sells 140 power stabilizers every week. If each power stabilizer costs the store $16, what is the minimum selling price per unit that will ensure a weekly profit of at least$5600 from sales of power stabilizers?

A. 24
B. 26
C. 40
D. 56
E. 60

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Re: An electrical supplies store sells 140 power stabilizers every week.  [#permalink]

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27 Nov 2016, 03:05
2
Bunuel wrote:
An electrical supplies store sells 140 power stabilizers every week. If each power stabilizer costs the store $16, what is the minimum selling price per unit that will ensure a weekly profit of at least$5600 from sales of power stabilizers?

A. 24
B. 26
C. 40
D. 56
E. 60

 No of Quantity ( SP - CP ) = Total Profit

140 ( s - 16 ) = 5600

So, s - 16 = 40

So, s = 56

Hence, correct answer will be (D) 56
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An electrical supplies store sells 140 power stabilizers every week.  [#permalink]

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27 Nov 2016, 03:52
Bunuel wrote:
An electrical supplies store sells 140 power stabilizers every week. If each power stabilizer costs the store $16, what is the minimum selling price per unit that will ensure a weekly profit of at least$5600 from sales of power stabilizers?

A. 24
B. 26
C. 40
D. 56
E. 60

Profit= Selling Prize - Cost Price
$5600 = (No. of units * SP per unit) - 140*16 5600 = 140* SP per unit - 140*16 5600 + 2240 = SP per unit = 7840/140 = 56 D Manager Joined: 29 Feb 2016 Posts: 116 Location: India GMAT 1: 700 Q49 V35 GPA: 3 Re: An electrical supplies store sells 140 power stabilizers every week. [#permalink] Show Tags 27 Nov 2016, 05:21 selling price - cost prize = profit 140(sp-16) = 5600 Sp = 40+16 56 _________________ Find what you love and let it kill you. — Charles Bukowski Target Test Prep Representative Status: Founder & CEO Affiliations: Target Test Prep Joined: 14 Oct 2015 Posts: 7393 Location: United States (CA) Re: An electrical supplies store sells 140 power stabilizers every week. [#permalink] Show Tags 30 Jan 2018, 11:22 1 Bunuel wrote: An electrical supplies store sells 140 power stabilizers every week. If each power stabilizer costs the store$16, what is the minimum selling price per unit that will ensure a weekly profit of at least $5600 from sales of power stabilizers? A. 24 B. 26 C. 40 D. 56 E. 60 We use the profit formula: revenue - cost = profit. We can create the following inequality in which n = selling price per unit: 140n - 140 x 16 ≥ 5600 140(n - 16) ≥ 5600 n - 16 ≥ 40 n ≥ 56 Answer: D _________________ Scott Woodbury-Stewart Founder and CEO Scott@TargetTestPrep.com 122 Reviews 5-star rated online GMAT quant self study course See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews If you find one of my posts helpful, please take a moment to click on the "Kudos" button. Director Joined: 31 Jul 2017 Posts: 514 Location: Malaysia Schools: INSEAD Jan '19 GMAT 1: 700 Q50 V33 GPA: 3.95 WE: Consulting (Energy and Utilities) An electrical supplies store sells 140 power stabilizers every week. [#permalink] Show Tags 31 Jan 2018, 11:41 Bunuel wrote: An electrical supplies store sells 140 power stabilizers every week. If each power stabilizer costs the store$16, what is the minimum selling price per unit that will ensure a weekly profit of at least $5600 from sales of power stabilizers? A. 24 B. 26 C. 40 D. 56 E. 60 Let $$x$$ be the selling price of each unit. So, from the passage we have - $$5600 = x * 140 - 16 * 140$$ $$x = 56$$ _________________ If my Post helps you in Gaining Knowledge, Help me with KUDOS.. !! CEO Joined: 12 Sep 2015 Posts: 3910 Location: Canada Re: An electrical supplies store sells 140 power stabilizers every week. [#permalink] Show Tags 08 Feb 2019, 07:27 Top Contributor Bunuel wrote: An electrical supplies store sells 140 power stabilizers every week. If each power stabilizer costs the store$16, what is the minimum selling price per unit that will ensure a weekly profit of at least $5600 from sales of power stabilizers? A. 24 B. 26 C. 40 D. 56 E. 60 Let x = the selling price per unit So, x - 16 = the PROFIT on ONE unit And 140(x - 16) = the PROFIT on the sale of 140 units (aka the weekly profit) What is the minimum selling price per unit that will ensure a weekly profit of at least$5600 from sales of power stabilizers?
In other words, we want: weekly profit ≥ 5600
Or we can write: 140(x - 16) ≥ 5600
Divide both sides by 140 to get: x - 16 ≥ 40
Add 16 to both sides to get: x ≥ 56

So, the selling price per unit must be \$56 or greater

Cheers,
Brent
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Re: An electrical supplies store sells 140 power stabilizers every week.   [#permalink] 08 Feb 2019, 07:27
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