GMAT Question of the Day: Daily via email | Daily via Instagram New to GMAT Club? Watch this Video

It is currently 29 May 2020, 00:34

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

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

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Manager
Manager
avatar
Joined: 22 Sep 2005
Posts: 204
During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post Updated on: 12 Dec 2018, 04:06
2
18
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

75% (01:33) correct 25% (01:35) wrong based on 302 sessions

HideShow timer Statistics

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.

Originally posted by netcaesar on 01 Feb 2008, 12:14.
Last edited by Bunuel on 12 Dec 2018, 04:06, edited 2 times in total.
Renamed the topic and edited the question.
Most Helpful Expert Reply
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 64222
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 08 Sep 2014, 05:03
4
8
WishMasterUA 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.


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.
_________________
Most Helpful Community Reply
Current Student
avatar
Joined: 26 May 2005
Posts: 429
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 18 Jun 2011, 07:38
3
3
WishMasterUA 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, total revenue from of these sweaters was 270$.

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


S = selling price
C = cost price
\Question tells us S= C+30

st 1 = Selling price * no of sweaters = 270.............. insufficient
st 2 = S = 1.5C
using information from question
1.5 C = C+30
0.5C = 30
C = 60
S =90
but no clue on revenue or number of sweaters sold. ............. insufficient

together 90* no of sweaters = 270
no of sweater = 3
sufficient

hence C
General Discussion
Manager
Manager
avatar
Joined: 26 Jan 2008
Posts: 204
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 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
_________________
SVP
SVP
avatar
Joined: 29 Mar 2007
Posts: 1664
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 01 Feb 2008, 14:02
1
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
Senior Manager
Senior Manager
User avatar
S
Status: No dream is too large, no dreamer is too small
Joined: 14 Jul 2010
Posts: 382
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 29 May 2011, 10:52
1
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
Intern
avatar
Joined: 27 Mar 2012
Posts: 6
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 23 Oct 2012, 05:23
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
User avatar
V
Joined: 02 Sep 2009
Posts: 64222
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 23 Oct 2012, 05:36
Manager
Manager
User avatar
Status: Kitchener
Joined: 03 Oct 2013
Posts: 86
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]

Show Tags

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
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 16738
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]

Show Tags

New post 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
_________________
Contact Rich at: Rich.C@empowergmat.com
Image


The Course Used By GMAT Club Moderators To Earn 750+

souvik101990 Score: 760 Q50 V42 ★★★★★
ENGRTOMBA2018 Score: 750 Q49 V44 ★★★★★
Intern
Intern
avatar
Joined: 19 Dec 2019
Posts: 1
Re: During a one day sale, a store sold each sweater of a certain type for  [#permalink]

Show Tags

New post 07 Jan 2020, 13:34
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?
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 16738
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]

Show Tags

New post 07 Jan 2020, 14:59
1
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
_________________
Contact Rich at: Rich.C@empowergmat.com
Image


The Course Used By GMAT Club Moderators To Earn 750+

souvik101990 Score: 760 Q50 V42 ★★★★★
ENGRTOMBA2018 Score: 750 Q49 V44 ★★★★★
Manager
Manager
avatar
B
Joined: 14 Nov 2018
Posts: 89
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]

Show Tags

New post 09 Jan 2020, 09:41
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?
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 16738
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]

Show Tags

New post 09 Jan 2020, 14:43
1
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
_________________
Contact Rich at: Rich.C@empowergmat.com
Image


The Course Used By GMAT Club Moderators To Earn 750+

souvik101990 Score: 760 Q50 V42 ★★★★★
ENGRTOMBA2018 Score: 750 Q49 V44 ★★★★★
Manager
Manager
avatar
B
Joined: 14 Nov 2018
Posts: 89
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]

Show Tags

New post 09 Jan 2020, 23:54
Missed your post somehow EMPOWERgmatRichC - thanks for the clarification all clear.
GMAT Club Bot
Re: During a one day sale, a store sold each sweater of a certain type for   [#permalink] 09 Jan 2020, 23:54

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

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne