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18 Dec 2008, 12:25
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Jason Troy, the owner of Troy’s Toys, ordered a number of wind-up fish for the summer. He paid $3.50 for each one and hoped to sell them at a higher price to make a profit. Unfortunately, the wind-up fish weren’t selling as well as expected and Jason had 48 toys left over at the end of the summer. To sell the wind-up fish, Jason had to lower the price for his customers.
On Monday, Jason reduced the price to $5 and sold one-half of them.
On Tuesday, he marked down the remaining fish to $4 and again sold one-half of them.
On Wednesday, he reduced the price to $3 and sold one-third of the remaining fish.
Finally, he marked down the rest of the fish to $2 and sold them all.
How much money (profit) did Jason make on the 48 wind-up fish?
(A) 26
(B) 27
(C) 28
(D) 30
(E) 32
On Monday, Jason reduced the price to $5 and sold one-half of them.
On Tuesday, he marked down the remaining fish to $4 and again sold one-half of them.
On Wednesday, he reduced the price to $3 and sold one-third of the remaining fish.
Finally, he marked down the rest of the fish to $2 and sold them all.
How much money (profit) did Jason make on the 48 wind-up fish?
(A) 26
(B) 27
(C) 28
(D) 30
(E) 32
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18 Dec 2008, 13:25
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24*5=120
12*4=48
4*5=12
8*2=16
tot income=196
tot spent=48*3.5=168
profit=196-168=28
12*4=48
4*5=12
8*2=16
tot income=196
tot spent=48*3.5=168
profit=196-168=28
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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