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

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Senior Manager
Joined: 22 Sep 2005
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During a one day sale, a store sold each sweater of a  [#permalink]

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01 Feb 2008, 12:14
2
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Difficulty:

35% (medium)

Question Stats:

78% (01:45) correct 22% (01:54) wrong based on 206 sessions

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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.
Director
Joined: 01 Jan 2008
Posts: 595
Re: During a one day sale, a store sold each sweater of a  [#permalink]

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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 Senior Manager Joined: 26 Jan 2008 Posts: 251 Re: During a one day sale, a store sold each sweater of a [#permalink] ### Show Tags 01 Feb 2008, 13:59 2 1 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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01 Feb 2008, 14:02
1
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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01 Feb 2008, 18:26
sale price = 30 + cost price

(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 _________________ Click +1 Kudos if my post helped EMPOWERgmat Instructor Status: GMAT Assassin/Co-Founder Affiliations: EMPOWERgmat Joined: 19 Dec 2014 Posts: 12890 Location: United States (CA) GMAT 1: 800 Q51 V49 GRE 1: Q170 V170 Re: During a one day sale, a store sold each sweater of a [#permalink] ### Show Tags 25 Feb 2015, 13:56 1 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). GMAT assassins aren't born, they're made, Rich _________________ 760+: Learn What GMAT Assassins Do to Score at the Highest Levels Contact Rich at: Rich.C@empowergmat.com # Rich Cohen Co-Founder & GMAT Assassin Special Offer: Save$75 + GMAT Club Tests Free
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Re: During a one day sale, a store sold each sweater of a  [#permalink]

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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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16 Sep 2018, 23:09
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Re: During a one day sale, a store sold each sweater of a &nbs [#permalink] 16 Sep 2018, 23:09
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# During a one day sale, a store sold each sweater of a

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