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A furniture store purchased sofas for a wholesale price of $
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06 Dec 2019, 10:54
06 Dec 2019, 10:54
Expert Reply
10
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Question Stats:
50% (01:42) correct
50% (02:01) wrong based on 114 sessions
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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]
05 Sep 2022, 06:25
05 Sep 2022, 06:25
5
(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
General Discussion
Re: A furniture store purchased sofas for a wholesale price of $
[#permalink]
08 Dec 2019, 21:42
08 Dec 2019, 21:42
4
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.
