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25 Feb 2020, 01:54
Kudos
Bookmarks
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
64% (01:24) correct
36%
(01:33)
wrong
based on 170
sessions
History
Date
Time
Result
Not Attempted Yet
An outlet sold 200 chairs and 120 tables. Each chair was sold at a loss of $20. What is the average profit on the table?
(1) The total revenue is $4000
(2) The total profit is $2500
(1) The total revenue is $4000
(2) The total profit is $2500
25 Feb 2020, 23:41
Kudos
Bookmarks
Bunuel
Let the profit be a and b, so we are looking for b..
Total profit = 200a+120b=200*(-20)+120b=120b-4000
(1) The total revenue is $4000
If the selling prices are c and t respectively, 200c+120t=4000
There is nothing much we can do with this
(2) The total profit is $2500
So \(120b-4000=2500....120b=6500...b=\frac{6500}{12}\)
Suff
B
25 Feb 2020, 23:55
Kudos
Bookmarks
Bunuel
Question: Average Profit on Table = ?
but the loss on chairs = 200*20 = 4000
Statement 1: The total revenue is $4000
200c + 120t = 4000
Cost of table is unknown and also the revenue through chairs or table is unknown hence
NOT SUFFICIENT
Statement 2: The total profit is $2500
Total Loss of on chairs = 4000
i.e. Profit on Tables = 2500+4000 = 6500
Avearge Profit per table = \(\frac{Total Profit on tables }{ Total Number of tables} = 6500/120 = 54.16\)
SUFFICIENT
Answer: Option B
