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A furniture store purchased sofas for a wholesale price of $
[#permalink]
06 Dec 2019, 10:54

Expert Reply

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Question Stats:

A furniture store-purchased sofas for a wholesale price of $400 each and sold most of them for a retail price of $560 each. In a summer sale, the retail price of the last few sofas was reduced by x dollars, and they were sold at this reduced price. The store's profit form selling the last sofa was more than 15 percent of its wholesale price. Which of the following could be the value of x?

Indicate all such values.

A. 50

B. 75

C. 100

D. 125

Kudos for the right answer and explanation

_________________

Indicate all such values.

A. 50

B. 75

C. 100

D. 125

Kudos for the right answer and explanation

_________________

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
08 Dec 2019, 21:42

3

There's a lot going on in this question so let's break it down into raw data.

$400 is the cost of the couch whole-sale price.

$560 is the price that's sold at.

When discounted off of X dollars, the price is MORE THAN 15% of the wholesale price. Find X.

I started off by finding 15% of 400, which is 60.

To find how much profit was made off of each couch, add the 15% (60) to the wholesale price of 400, and then subtract that from the retail (undiscounted) price.

560 - (400+60)= 100.

The store made a profit of $100 per couch with the discount. This means that x < 100.

Answers A. 50 and B. 75 are both less than 100.

A and B are correct.

$400 is the cost of the couch whole-sale price.

$560 is the price that's sold at.

When discounted off of X dollars, the price is MORE THAN 15% of the wholesale price. Find X.

I started off by finding 15% of 400, which is 60.

To find how much profit was made off of each couch, add the 15% (60) to the wholesale price of 400, and then subtract that from the retail (undiscounted) price.

560 - (400+60)= 100.

The store made a profit of $100 per couch with the discount. This means that x < 100.

Answers A. 50 and B. 75 are both less than 100.

A and B are correct.

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
Updated on: 05 Jul 2020, 14:06

1

I don't know much about math , but I think the correct answer is b.75 . right?

if we are talking about furniture. we just spend so much time in bed and don’t even think about how it can affect our health. I think to buy an adjustable bed and choose between 2 models and I just can’t decide. each is good in its own way. in general I learned a lot about adjustable beds and mattresses from the bedroom.solutions blog. everything is described with details and in plain language so you won't have to search for more information

if we are talking about furniture. we just spend so much time in bed and don’t even think about how it can affect our health. I think to buy an adjustable bed and choose between 2 models and I just can’t decide. each is good in its own way. in general I learned a lot about adjustable beds and mattresses from the bedroom.solutions blog. everything is described with details and in plain language so you won't have to search for more information

Originally posted by manningliam on 03 Jul 2020, 01:37.

Last edited by manningliam on 05 Jul 2020, 14:06, edited 2 times in total.

Last edited by manningliam on 05 Jul 2020, 14:06, edited 2 times in total.

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
03 Jul 2020, 02:11

Expert Reply

See the explanation above, please.

Regards

_________________

Regards

_________________

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
19 Dec 2020, 03:04

Hi I have already attempted this question with bed not sofas. answer is 75.

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
30 Dec 2021, 01:59

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
26 Jul 2022, 13:28

1

Profit made per item = 160

Let last number of unsold items be Y

So profit on the last item will be (160 -X)Y > 60

This gives 160Y - XY > 60

From the relationship, find largest value of X that can accommodate Y to make the equation true.

Answer is 50 and 75.

Let last number of unsold items be Y

So profit on the last item will be (160 -X)Y > 60

This gives 160Y - XY > 60

From the relationship, find largest value of X that can accommodate Y to make the equation true.

Answer is 50 and 75.

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
05 Sep 2022, 06:25

2

(560-x)/400 > 1.15 (since a 15% profit would mean it sold for 115% of cost)

560-x>460

-x>100

x<100 --> A and B only

560-x>460

-x>100

x<100 --> A and B only

Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
23 Jan 2023, 07:44

KC15 wrote:

(560-x)/400 > 1.15 (since a 15% profit would mean it sold for 115% of cost)

560-x>460

-x>100

x<100 --> A and B only

560-x>460

-x>100

x<100 --> A and B only

Wow..what a solution! Kudos!

gmatclubot

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