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During a one day sale, a store sold each sweater of a

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During a one day sale, a store sold each sweater of a  [#permalink]

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New post 01 Feb 2008, 12:14
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During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270
2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 01 Feb 2008, 12:27
netcaesar wrote:
During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270
2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.


1) insufficient -> total revenue $270, number of sweaters is greater than 9, no info about sweater price
2) insufficient -> cost of sweaters is $60, retail price $90, no total revenue info

1&2: sufficient -> number of sweaters is 3
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 01 Feb 2008, 13:59
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netcaesar wrote:
During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270
2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.


(C)

Sale price = $30 + Cost price, or
S = $30 + C

1) Insufficient. Each sweater could have been sold for 60 or 230.
If n sweaters were sold, we have n*S = 270

2) Insufficient. 50% greater = $30, hence
or S = 1.5*C
Plugging this in the first equation, we get S = 90, C = 60. But we still don't have n.

Combining (1) & (2): n*90 = 270
or n = 3
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 01 Feb 2008, 14:02
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netcaesar wrote:
During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. how many of those sweaters were sold during the sale?

1) During the sale the total revenue from sale of these sweaters was $270
2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.


1: revenue = profits - cost. 270$=(x+30)z z is the number of sweaters.

we have two unknowns and only 1 equation insuff.

2: x= cost. x+30=1.5x --> x=60 Thus total price is 90$. Insuff though b/c we dont know the revenue.

Together: 90z=270 --> z=3

C
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 01 Feb 2008, 18:26
sale price = 30 + cost price

stat 1 tells us that total revenue was $720, i.e. 720/30+cost price = #sweaters sold. SInce we dont know the cost price, its insuff.

stat 2 tells us that 30+c=1.5c -->c=6-, and therefore sale price is 90. but we dont know the total revenue. insuff.

together we can determine that 720/90 = 3. Therefore, suff.

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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 07 Sep 2010, 13:19
I didn't follow this one. could someone explain this?
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 07 Sep 2010, 13:39
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aiming4mba wrote:
I didn't follow this one. could someone explain this?


During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. How many of thses sweaters were sold during the sale?

(1) During the sale, the total revenue from the sale of these sweaters was $270.

(2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

Given: \(p=c+30\)

(1) Revenue = price * # of sweaters sold --> \(270=p*n=(c+30)n\). Not sufficient to determine \(n\).

(2) \(p=1.5c=c+30\) --> \(c=60\). Not sufficient.

(1)+(2) \(c=60\) and \(270=(c+30)n=90n\) --> \(n=3\). Sufficient.

Answer: C.
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 07 Sep 2010, 21:12
eazy question....
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 29 May 2011, 10:52
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Given: S = C + 30 [S = Sales, c = cost]

(1) NS=270 [N = number of sales]
So, (c + 30) x N = 270, N is unknown, Insufficient.

(2) c+30 = 150%c, C can be calculated from the equation, but we need N=? Insufficient.
C= 60
Considering C
(60+30) x N = 270
N = 3
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 25 Feb 2015, 06:11
Bunuel wrote:
aiming4mba wrote:
I didn't follow this one. could someone explain this?


During a one day sale, a store sold each sweater of a certain type for $30 more than the store's cost to purchase each sweater. How many of thses sweaters were sold during the sale?

(1) During the sale, the total revenue from the sale of these sweaters was $270.

(2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater.

Given: \(p=c+30\)

(1) Revenue = price * # of sweaters sold --> \(270=p*n=(c+30)n\). Not sufficient to determine \(n\).

(2) \(p=1.5c=c+30\) --> \(c=60\). Not sufficient.

(1)+(2) \(c=60\) and \(270=(c+30)n=90n\) --> \(n=3\). Sufficient.

Answer: C.


Dear Bunuel,I follow the below way to answer the above question and I do not know what is the wrong in my way?

we have that (Selling price per unit) - (Cost price per unit) = (Gross profit from one unit)= 30

270= (Selling price per unit - Cost price per unit)*# of sweaters sold

270= 30*# of sweaters sold

So # of sweaters sold = 270/30
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 25 Feb 2015, 13:56
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Hi 23a2012,

In your calculation, you're using the PROFIT to determine the number of sweaters sold, but the $270 mentioned in Fact 1 is based on the REVENUE.

The equation is supposed to be:

$270 = (Sale price per sweater)(number of sweaters).

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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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New post 29 Jan 2017, 17:08
from (1), if SP = selling price and CP = cost price
SP = 30 + CP
SP(x) = (30 + CP) x where x is the number of sweaters sold
since (1) tells us that total revenue is 270, that means SP(x) = 270
therefore
x(30 + CP) = 270
we still don't know what CP is, so (1) is insufficient

from (2),
SP = 150% * CP
we don't know what CP is, so (2) is insufficient

but with info from (1),
270 = 150% * CP
so we can find what CP is.
Knowing what CP is, we can solve for (1)

therefore we need both statements together. Hence (c)
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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