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Mike bought 100 goldfish for $14 each from his pet supplier. He gave 30 of them to his friends and sold the others at his pet store. The goldfish will each be sold at what price, so his income is 1.3 times the cost of the 100 goldfish?

Mike bought 100 goldfish for $14 each from his pet supplier. He gave 30 of them to his friends and sold the others at his pet store. The goldfish will each be sold at what price, so his income is 1.3 times the cost of the 100 goldfish?

I think income here means Total Sale at Pet Store- Cost of buying

Total Cost of buying= 1400
Income = 1820

Total Sale at Pet store = 1400 + 1820 = 3220

So sale price = 3220/70 = 46

joemama142000, correct me with the OA if I have misunderstood the question.
_________________

46 it is......
READ...READ...READ...........I feel like jumping off the bay bridge...
Dang ! I need to pay close attention to the wording....

ps_dahiya wrote:

joemama142000 wrote:

Mike bought 100 goldfish for $14 each from his pet supplier. He gave 30 of them to his friends and sold the others at his pet store. The goldfish will each be sold at what price, so his income is 1.3 times the cost of the 100 goldfish?

I think income here means Total Sale at Pet Store- Cost of buying

Total Cost of buying= 1400 Income = 1820

Total Sale at Pet store = 1400 + 1820 = 3220

So sale price = 3220/70 = 46

joemama142000, correct me with the OA if I have misunderstood the question.

46 it is...... READ...READ...READ...........I feel like jumping off the bay bridge... Dang ! I need to pay close attention to the wording....

ps_dahiya wrote:

joemama142000 wrote:

Mike bought 100 goldfish for $14 each from his pet supplier. He gave 30 of them to his friends and sold the others at his pet store. The goldfish will each be sold at what price, so his income is 1.3 times the cost of the 100 goldfish?

I think income here means Total Sale at Pet Store- Cost of buying

Total Cost of buying= 1400 Income = 1820

Total Sale at Pet store = 1400 + 1820 = 3220

So sale price = 3220/70 = 46

joemama142000, correct me with the OA if I have misunderstood the question.

You are not alone. We all are like that. Thats the reason we all are here to learn from each other.

BTW, it seems you are from Bay Area, CA.
_________________

Yes, I am from the bay area. Looks like you are well on your way...when do you plan to take the GMAT CAT ? I am thinking of March.....planning to take one test a week till then and see where I am at.

ps_dahiya wrote:

lhotseface wrote:

46 it is...... READ...READ...READ...........I feel like jumping off the bay bridge... Dang ! I need to pay close attention to the wording....

ps_dahiya wrote:

joemama142000 wrote:

Mike bought 100 goldfish for $14 each from his pet supplier. He gave 30 of them to his friends and sold the others at his pet store. The goldfish will each be sold at what price, so his income is 1.3 times the cost of the 100 goldfish?

I think income here means Total Sale at Pet Store- Cost of buying

Total Cost of buying= 1400 Income = 1820

Total Sale at Pet store = 1400 + 1820 = 3220

So sale price = 3220/70 = 46

joemama142000, correct me with the OA if I have misunderstood the question.

You are not alone. We all are like that. Thats the reason we all are here to learn from each other.

Mike bought 100 goldfish for $14 each from his pet supplier. He gave 30 of them to his friends and sold the others at his pet store. The goldfish will each be sold at what price, so his income is 1.3 times the cost of the 100 goldfish?

I think income here means Total Sale at Pet Store- Cost of buying

Total Cost of buying= 1400 Income = 1820

Total Sale at Pet store = 1400 + 1820 = 3220

So sale price = 3220/70 = 46

joemama142000, correct me with the OA if I have misunderstood the question.

Total Sale at Pet store = 1400 + 1820 = 3220
Your mistake is here why do you need to sumarize income of pet supplier and Mike's Pet store?
_________________