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In 1995 a certain store had 1,800 tools in stock that had been purchas 12 Nov 2009, 02:29
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In 1995 a certain store had 1,800 tools in stock that had been purchased for $30 each. If 1,000 of these tools were sold in 1995 for $40 each and the remaining 800 were sold in 1996 for $50 each, how much greater was the gross profit on the tools sold in 1996 than the gross profit on those sold in 1995?

A. $0
B. $6,000
C. $8,000
D. $32,000
E. $40,000

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h2polo
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In 1995 a certain store had 1,800 tools in stock that had been purchas 12 Nov 2009, 02:51
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The keyword here is "Gross Profit":

Gross Profit = (Selling Price - Original Price)*(# of Items Sold)

So lets figure out what the Gross Profit for 1995:

GP1995 = (40-30)*(1000) = 10000

And the Gross Profit for 1996:

GP1996 = (50-30)*(800) = 16000

So the difference would be:

16000-10000 = 6000

ANSWER: B. 6000
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pierrealexandre77
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In 1995 a certain store had 1,800 tools in stock that had been purchas 12 Nov 2009, 02:33
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Profit = Revenue - Charge


P(1995) = 40.1000 - 30.1000 = 10.000
P(1996) = 50.800 - 30.800 = 20.800 = 16.000

Ans is 6000$
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In 1995 a certain store had 1,800 tools in stock that had been purchas 01 May 2011, 22:51
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profit '95 = 1000*40 - 1000*30= 10,000
profit '96 = 800 * 50 - 800 *30 = 16,000
Thus difference = 6000.B
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In 1995 a certain store had 1,800 tools in stock that had been purchas 17 Feb 2018, 17:09
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Hello, I was uncertain about Gross Profit and Net Profit. I chose Answer A, "0" because the sales in 1995 was 40,000.
1000 * 40 = 40,000
In 1996 sales was also 40,000. 800 * 50 = 40,000. So there was no difference. I thought that was Gross profit.

My thinking is that NET profit is the one that would factor on the initial cost of buying all for $30 each.
Thus the NET profit in 1995 is $10 profit * 1000 = $10,000
ANd NET profit in 1996 is $20 * 800 = $16,000

When do I use NET profit vs GROSS profit?
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In 1995 a certain store had 1,800 tools in stock that had been purchas 18 Sep 2019, 09:56
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jade3
In 1995 a certain store had 1,800 tools in stock that had been purchased for $30 each. If 1,000 of these tools were sold in 1995 for $40 each and the remaining 800 were sold in 1996 for $50 each, how many greater was the gross profit on the tools sold in 1996 than the gross profit on those sold in 1995?

A. $0
B. $6,000
C. $8,000
D. $32,000
E. $40,000

We can create the expression:

(800 x 50 - 800 x 30) - (1000 x 40 - 1000 x 30)

800(50 - 30) - 1000(40 - 30)

16000 - 10000 = 6,000

Answer: B
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In 1995 a certain store had 1,800 tools in stock that had been purchas 10 Mar 2021, 17:56
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"how many greater was the gross profit"

How can this be an OG question?

Posted from my mobile device
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In 1995 a certain store had 1,800 tools in stock that had been purchas 11 Mar 2021, 00:12
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1995 cost price: 1,000 * 30 = 30,000 and 800 * 30 = 24,000

1995 selling price: 1,000 * 40 = 40,000

Profit 1995: 40,000 - 30,000 = 10,000


1996 selling price: 800 * 50 = 40,000

Profit 1996: 40,000 - 24,000 = 16,000


Profit 1996 - 1995: 16,000 - 10,000 = 6,000

Answer B
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In 1995 a certain store had 1,800 tools in stock that had been purchas 23 May 2024, 07:22
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­Straightforward. One gross profit minus another:

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In 1995 a certain store had 1,800 tools in stock that had been purchas 01 Jun 2025, 15:22
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