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In 1995 a certain store had 1,800 tools in stock that had been purchas

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GeminiHeat
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In 1995 a certain store had 1,800 tools in stock that had been purchas [#permalink] New post   08 May 2022, 08:25
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Question Stats:

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In 1995 a certain store had 1,800 tools in stock that had been purchased for $30 each. If 1,000 of these tools were sold in 1995 for $40 each and the remaining 800 were sold in 1996 for $50 each, how many greater was the gross profit on the tools sold in 1996 than the gross profit on those sold in 1995?

A. $0
B. $6,000
C. $8,000
D. $32,000
E. $40,000
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B
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Re: In 1995 a certain store had 1,800 tools in stock that had been purchas [#permalink] New post   09 May 2022, 23:31
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The keyword here is "Gross Profit":

Gross Profit = (Selling Price - Original Price)*(# of Items Sold)

So lets figure out what the Gross Profit for 1995:

GP1995 = (40-30)*(1000) = 10000

And the Gross Profit for 1996:

GP1996 = (50-30)*(800) = 16000

So the difference would be:

16000-10000 = 6000

ANSWER: B. 6000
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gmatclubot
Re: In 1995 a certain store had 1,800 tools in stock that had been purchas [#permalink]
09 May 2022, 23:31
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