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Difficulty:
65%
(hard)
Question Stats:
66% (02:19) correct
34%
(02:28)
wrong
based on 885
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Last month a certain store purchased computers, some for $600 each and the rest for $800 each, and sold all these computers for a total of $27,000. Last Month, if the store purchases 20 computers for $600, how many computers did the store purchase for $800 each?
(1) The store made a total gross profit of $4000 from the sale of the 20 computers that it purchased last month for $600 each.
(2) The store made a total gross profit of $7000 from the sale of all computers that it purchased last month.
(1) The store made a total gross profit of $4000 from the sale of the 20 computers that it purchased last month for $600 each.
(2) The store made a total gross profit of $7000 from the sale of all computers that it purchased last month.
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Combine official questions for familiarity with GMAT Club Tests for analytics and tougher Focus-level practice so the real exam feels manageable.
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25 Oct 2023, 00:04
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nick13
Let the number of computers that the store purchased for $800 = n
Given:
- Total cost price of the computers that cost $600 each = $ 600 * 20 = $ 12,000
- Total cost price of the computers that cost $800 each = $ 600 * n = $ 800n
- Total selling price of all the computers = $27,000
Statement 1
1. the store made a total gross profit of $4000 from the sale of the 20 computers that it purchased last month for $600 each.
Total selling price = Total selling price of the computers that cost $600 each + Total selling price of the computers that cost $800 each
Total selling price of the computers that cost $800 each = 27000 - (12000 + 4000) = $11,000
While we were able to find out the total selling price of the computers that cost $800 each, we have no information on the profit or loss made on each computer. For example, the store could have purchased one computer for $800 and could have sold that computer for $11000. Alternatively, the store could have purchased 2 computers or 3 computers and so on for $800 each and could have sold them for $11,000.
Hence, this statement is not sufficient and we can eliminate A, and D.
Statement 2
2. The store made a total gross profit of $7000 from the sale of all computers that it purchased last month.
Total selling price = Total cost price of the computers that cost $600 each + Total cost price of the computers that cost $800 each + Total profit from the sale of all computers
27000 = 12000 + 800n + 7000
We can find the value of n.
The statement is sufficient.
Option B
General Discussion
04 Mar 2024, 18:42
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I) To know how many computers did they store purchase at $800, we need to know, in other words, the revenue from these kind of computers. But the statement I just provide additional information to calculate the revenue from the first kind of computer (the one that was sold for 600 each). => Insuff
II) The question says that the total cost would be 27k-7k=20k dollars. And we already know that a part of that cost comes from the 20 computers bought at 600 $. The other comes from x computers bought at $800. I equation*, one variable => Sufficient
* To be more precise, there is another constrain: x is a natural number, but we don't need to concern about it because we already have enough information to obtain an answer, and this answer must be correct since we are solving DS Questions.
PS: @nick13 this question appeared to me in the practice exam 4, and "$700" is wrong. The correct value is a total gross profit of $7000.
II) The question says that the total cost would be 27k-7k=20k dollars. And we already know that a part of that cost comes from the 20 computers bought at 600 $. The other comes from x computers bought at $800. I equation*, one variable => Sufficient
* To be more precise, there is another constrain: x is a natural number, but we don't need to concern about it because we already have enough information to obtain an answer, and this answer must be correct since we are solving DS Questions.
PS: @nick13 this question appeared to me in the practice exam 4, and "$700" is wrong. The correct value is a total gross profit of $7000.
