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An outlet sold 200 chairs and 120 tables. Each chair was sold at a los

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An outlet sold 200 chairs and 120 tables. Each chair was sold at a los  [#permalink]

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New post 25 Feb 2020, 00:54
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  35% (medium)

Question Stats:

69% (01:18) correct 31% (02:07) wrong based on 27 sessions

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Re: An outlet sold 200 chairs and 120 tables. Each chair was sold at a los  [#permalink]

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New post 25 Feb 2020, 22:41
1
Bunuel wrote:
An outlet sold 200 chairs and 120 tables. Each chair was sold at a loss of $20. What is the average profit on the table?

(1) The total revenue is $4000
(2) The total profit is $2500


Let the profit be a and b, so we are looking for b..
Total profit = 200a+120b=200*(-20)+120b=120b-4000

(1) The total revenue is $4000
If the selling prices are c and t respectively, 200c+120t=4000
There is nothing much we can do with this

(2) The total profit is $2500
So \(120b-4000=2500....120b=6500...b=\frac{6500}{12}\)
Suff

B
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An outlet sold 200 chairs and 120 tables. Each chair was sold at a los  [#permalink]

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New post 25 Feb 2020, 22:55
1
Bunuel wrote:
An outlet sold 200 chairs and 120 tables. Each chair was sold at a loss of $20. What is the average profit on the table?

(1) The total revenue is $4000
(2) The total profit is $2500


Project DS Butler Data Sufficiency (DS3)


For DS butler Questions Click Here


Question: Average Profit on Table = ?

but the loss on chairs = 200*20 = 4000

Statement 1: The total revenue is $4000

200c + 120t = 4000

Cost of table is unknown and also the revenue through chairs or table is unknown hence

NOT SUFFICIENT

Statement 2: The total profit is $2500

Total Loss of on chairs = 4000

i.e. Profit on Tables = 2500+4000 = 6500

Avearge Profit per table = \(\frac{Total Profit on tables }{ Total Number of tables} = 6500/120 = 54.16\)

SUFFICIENT

Answer: Option B
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Re: An outlet sold 200 chairs and 120 tables. Each chair was sold at a los  [#permalink]

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New post 25 Feb 2020, 23:55
1
Bunuel wrote:
An outlet sold 200 chairs and 120 tables. Each chair was sold at a loss of $20. What is the average profit on the table?

(1) The total revenue is $4000
(2) The total profit is $2500



Solution


Step 1: Analyse Question Stem


    • Let the average profit on selling a table be $x.
    • Also, let the cost price of a chair and a table be \(CP_c \)and \(CP_t\) (in dollars), respectively.

Step 2: Analyse Statements Independently (And eliminate options) – AD/BCE


Statement 1: The total revenue is $4000
    • \((CP_c – 20)*200 + (CP_t + x)*120 = 4000\)
    • Since we don’t know \(CP_c \)and \(CP_t\), we cannot find the value of x.
Hence, statement 1 is NOT sufficient and we can eliminate answer options A and D.

Statement 2: The total profit is $2500
    • Total profit = $2500
      o Profit made on sale of tables - Loss made on sale of chairs = 2500
      o \(120*x – 20*200 = 2500 ⇒ x = \frac{6500}{120}\)
Hence, statement 2 is sufficient.
Thus, the correct answer is Option B.
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Re: An outlet sold 200 chairs and 120 tables. Each chair was sold at a los   [#permalink] 25 Feb 2020, 23:55
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