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23 Nov 2015, 12:36
Kudos
Bookmarks
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
85% (02:27) correct
15%
(02:57)
wrong
based on 264
sessions
History
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Not Attempted Yet
A certain used-book dealer sells paperback books at 3 times dealer's cost and hardback books at 4 times dealer's cost. Last week the dealer sold a total of 120 books, each of which had cost the dealer $1. If the gross profit (sales revenue minus dealer's cost) on the sale of all of these books was $300, how many of the books sold were paperbacks?
(A) 40
(B) 60
(C) 75
(D) 90
(E) 100
(A) 40
(B) 60
(C) 75
(D) 90
(E) 100
23 Nov 2015, 21:41
Kudos
Bookmarks
Selling price of paperback books = 3x
Selling price of hardback books = 4y
Total cost price = x + y = 120*1 = 120 ---- (1)
Profit = 300
Selling price = 3x + 4y = 120 + Profit = 420 --- (2)
(2) - 3*(1) --> y = 60
x + y = 120; x = 60
Answer: B
Selling price of hardback books = 4y
Total cost price = x + y = 120*1 = 120 ---- (1)
Profit = 300
Selling price = 3x + 4y = 120 + Profit = 420 --- (2)
(2) - 3*(1) --> y = 60
x + y = 120; x = 60
Answer: B
23 Nov 2015, 23:05
Kudos
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Bunuel
Hi,
the other way could be
the profit is 2 and 3 in the two cases..
if all were purchased of one kind the profit would be..
1) 240 (2*120) incase of paperbacks..
2) 360 (3*120) incase of the other..
actual profit= 300..
we can take the weighted avg but can straightway see that the actual is right in center of the two values.
so each type have equal numbers=120/2=60..
ans B
