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27 May 2016, 04:13
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C
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Difficulty:
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97% (01:24) correct
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Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company C’s gross profit?
(A) $2,250
(B) $2,500
(C) $3,100
(D) $3,250
(E) $3,500
(A) $2,250
(B) $2,500
(C) $3,100
(D) $3,250
(E) $3,500
27 May 2016, 04:59
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Cost of 500 trucks: (100 * 5 ) + (400 * 3.5) = 500 + 1400 = $ 1900
Revenue : 500 * 10 = $5000
Profit: 5000 - 1900 = $ 3100
Option C is correct
Revenue : 500 * 10 = $5000
Profit: 5000 - 1900 = $ 3100
Option C is correct
12 Apr 2017, 21:57
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nalinnair
Cost for each of the first 100 trucks: 5
Cost for each of the 400 trucks = 3.5
Total Trucks produced = 500
Selling price of each truck = 10
Profit = Revenue - Total Cost
\(Total\quad Cost\quad =\quad 100\ast 5+400\ast 3.5\\ Total\quad Cost\quad =\quad 100\left( 5+4\ast 3.5 \right) \\ Total\quad Cost\quad =\quad 100\left( 19 \right) \\ Total\quad Cost\quad =\quad 1900\)
\(Revenue\quad =\quad 500\ast 10\quad =\quad 5000\)
\(Total\quad Gross\quad Profit\quad =\quad Revenue-Total\quad Cost\\ Total\quad Gross\quad Profit\quad =\quad 5000\quad -\quad 1900\quad =\quad 3100\)
