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Difficulty:
15%
(low)
Question Stats:
86% (02:24) correct
14%
(02:51)
wrong
based on 1154
sessions
History
Date
Time
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Not Attempted Yet
A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?
A. $2
B. $3
C. $4
D. $5
E. $6
PS13674
A. $2
B. $3
C. $4
D. $5
E. $6
PS13674
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17 Oct 2013, 21:45
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vksunder
Responding to a pm:
Yes, you can use weighted average here. You want to find the average selling price.
60% of radios were sold at $30 and 40% at $15.
Average selling price = (30*0.6 + 15*0.4)/1 = 24
Average cost price = $18
Average profit = $6
09 Oct 2008, 10:38
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Bookmarks
FACTOR, FACTOR, FACTOR! Fractorization is your best friend 
(Do NOT attempt to solve equation, especially any multiplication until all the factorization is completed.)
Total Cost: 1200*18
Sales1: 1200*(3/5)*30 = 1200*18
Sales2: 1200*(2/5)*15 = 1200*6
Ave profit = (Sales1 + Sales2 - Cost) / 1200
= ( (1200*18)+(1200*6)-(1200*18) ) / 1200
= (1200*6)/1200
= 6
The approach shows many details, but in reality all you need is the first line:
"( (1200*18)+(1200*6)-(1200*18) ) / 1200", which should give you '6' right away after you cross them out.
The only arithmetics I had to do were "3/5 * 30 = 18" and "2/5 * 15 = 6"
Do simple arithmetic as you read the question! 18 and 6 were already written on my scratch paper by the time I read the word, "average" in the last sentense
1200 was never even involved
The whole process should not take more than 30 sec.
(Do NOT attempt to solve equation, especially any multiplication until all the factorization is completed.)
Total Cost: 1200*18
Sales1: 1200*(3/5)*30 = 1200*18
Sales2: 1200*(2/5)*15 = 1200*6
Ave profit = (Sales1 + Sales2 - Cost) / 1200
= ( (1200*18)+(1200*6)-(1200*18) ) / 1200
= (1200*6)/1200
= 6
The approach shows many details, but in reality all you need is the first line:
"( (1200*18)+(1200*6)-(1200*18) ) / 1200", which should give you '6' right away after you cross them out.
The only arithmetics I had to do were "3/5 * 30 = 18" and "2/5 * 15 = 6"
Do simple arithmetic as you read the question! 18 and 6 were already written on my scratch paper by the time I read the word, "average" in the last sentense
1200 was never even involved
The whole process should not take more than 30 sec.
