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

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Re: During a one day sale, a store sold each sweater of a certain type for [#permalink]
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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 VP Joined: 29 Mar 2007 Posts: 1143 Own Kudos [?]: 1750 [3] Given Kudos: 0 Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] 2 Kudos 1 Bookmarks 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 Director Joined: 14 Jul 2010 Status:No dream is too large, no dreamer is too small Posts: 959 Own Kudos [?]: 5019 [1] Given Kudos: 690 Concentration: Accounting Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] 1 Kudos 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 Intern Joined: 27 Mar 2012 Posts: 6 Own Kudos [?]: 715 [0] Given Kudos: 1 Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] Could you please explain : Revenue = price * # of sweaters sold --> . Not sufficient to determine . here We can consider Revenue is selling price - cost price , Can we ? Math Expert Joined: 02 Sep 2009 Posts: 94580 Own Kudos [?]: 643209 [1] Given Kudos: 86728 Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] 1 Bookmarks Expert Reply amitvmane wrote: Could you please explain : Revenue = price * # of sweaters sold --> . Not sufficient to determine . here We can consider Revenue is selling price - cost price , Can we ? The total revenue from the sale is (price per unit) * (# of units sold). (Selling price per unit) - (Cost price per unit) = (Gross profit from one unit). Manager Joined: 03 Oct 2013 Status:Kitchener Posts: 64 Own Kudos [?]: 47 [0] Given Kudos: 144 Location: Canada Concentration: Finance, Finance GPA: 2.9 WE:Education (Education) Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] 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 GMAT Club Legend Joined: 19 Dec 2014 Status:GMAT Assassin/Co-Founder Affiliations: EMPOWERgmat Posts: 21835 Own Kudos [?]: 11793 [1] Given Kudos: 450 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 certain type for [#permalink] 1 Kudos Expert Reply 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 Intern Joined: 19 Dec 2019 Posts: 1 Own Kudos [?]: 0 [0] Given Kudos: 0 Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] I feel confused, For each sweater, the store can earn$30, so if we can get the revenue is $270, why we cannot say that they sold out 9 sweaters? GMAT Club Legend Joined: 19 Dec 2014 Status:GMAT Assassin/Co-Founder Affiliations: EMPOWERgmat Posts: 21835 Own Kudos [?]: 11793 [1] Given Kudos: 450 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 certain type for [#permalink] 1 Kudos Expert Reply Hi haodong, You're confusing REVENUE with PROFIT. The prompt tells us that the PROFIT per sweater sold is$30. The information in Fact 1 tells us that the REVENUE generated was $270. IF.... each sweater sold for$90, then $270/$90 = 3 sweaters were sold (and the profit was 3($30) =$90)
each sweater sold for $45, then$270/$45 = 6 sweaters were sold (and the profit was 6($30) = $180) GMAT assassins aren't born, they're made, Rich Manager Joined: 14 Nov 2018 Posts: 52 Own Kudos [?]: 14 [0] Given Kudos: 211 Location: United Arab Emirates Concentration: Finance, Strategy Schools: LBS '22 (I) GMAT 1: 590 Q42 V30 GMAT 2: 670 Q46 V36 GPA: 2.6 Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] Bunuel chetan2u VeritasKarishma Isnt it true if the price is more than$30, there can only be one price for the sweater i.e. 90 given the number of sweaters sold have to be an integer. Unless he sells one sweater for $270 but the question states how many sweaters? GMAT Club Legend Joined: 19 Dec 2014 Status:GMAT Assassin/Co-Founder Affiliations: EMPOWERgmat Posts: 21835 Own Kudos [?]: 11793 [1] Given Kudos: 450 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 certain type for [#permalink] 1 Kudos Expert Reply Hi gmatapprentice, To answer your immediate question: YES - the number of sweaters MUST be an integer (for example, you can't buy "1/7 of a sweater" in these types of questions). In my post (directly above yours), I included 2 different examples in which the selling price of a sweater was MORE than$30. There's actually another option though:

IF... each sweater sold for $135, then$270/$135 = 2 sweaters were sold (and the profit was 2($30) = $60) GMAT assassins aren't born, they're made, Rich Manager Joined: 14 Nov 2018 Posts: 52 Own Kudos [?]: 14 [0] Given Kudos: 211 Location: United Arab Emirates Concentration: Finance, Strategy Schools: LBS '22 (I) GMAT 1: 590 Q42 V30 GMAT 2: 670 Q46 V36 GPA: 2.6 Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] Missed your post somehow EMPOWERgmatRichC - thanks for the clarification all clear. Director Joined: 09 Jan 2020 Posts: 953 Own Kudos [?]: 235 [2] Given Kudos: 432 Location: United States Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] 2 Bookmarks 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 these 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. let purchase price = p sale price = p + 30 How many of these sweaters were sold during the sale? (1) Total revenue =$270

We don't know the purchase price. If the purchase price was $240, then only one sweater was sold. INSUFFICIENT. (2) p + 30 = 1.5p 30 = 0.5p 60 = p We know the purchase price is$60, from which we can conclude the sale price is $90. However, we don't know the total revenue. INSUFFICIENT. (1&2) total revenue =$270; sale price = $90 We can conclude 3 sweaters were sold. SUFFICIENT. Answer is C. GMAT Club Legend Joined: 03 Oct 2013 Affiliations: CrackVerbal Posts: 4915 Own Kudos [?]: 7815 [0] Given Kudos: 221 Location: India Re: During a one day sale, a store sold each sweater of a certain type for [#permalink] Top Contributor 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 these sweaters were sold during the sale?

Let SP be selling price of the sweater and Cp be the cost price of the sweater.
Its given that Sp = Cp + 30 and we are asked to find the no of sweaters sold ( Let it be N )

(1) During the sale, the total revenue from the sale of these sweaters was $270. Revenue = N * SP = 270 Statement 1 is insufficient as we cant find the value of N (2) During the sale, the store sold each of these sweaters at a price that was 50% greater than the store's cost to purchase each sweater. Sp = Cp + 50 % of Cp Its given in the question that SP is 30$ more the Cp.
So we can say that 50 % of Cp = 30
Cp =60$Sp = 60 + 30 = 90$
Even though we got the value of Sp but still we cant find the value of N.
Hence statement 2 is insufficient

By combining statement 1 and 2, we will be able to find the value of N
N * Sp = 270 and Sp = 90

Thanks,
Clifin J Francis
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