gmatophobia wrote:
A certain store purchased grills for $50 each and lawn chairs for $5 each and then sold each grill and each chair. The store's gross profit on each grill was 30 percent of its purchase price, and the store's gross profit on each chair was 50 percent of its purchase price. If the store sold 5 times as many chairs as grills and if the store's total gross profit on the grills and chairs was $550, what was the store's total revenue from the sale of the grills and chairs?
A. $1,530
B. $1,800
C. $2,050
D. $2,100
E.$2,360
Attachment:
Screenshot 2023-12-29 230227.png
Let there be x grills sold, then 5x chairs are sold.
Profit on each grill: 30% of 50 or $15
Profit on each chair: 50% of 5 or $2.5
Total profit = 15*x + 2.5*5x = 27.5x = 550
x = 20
Thus revenue generated = cost + profit
50*20 + 5*100 + 550 = 1500 + 550 = $2050
C
If we were to give slightly lucrative wrong options, 1500 would surely be an option.
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Statistics : Posted by chetan2u • on 29 Dec 2023, 09:35 • Replies 1 • Views 18
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