unicornilove wrote:
Hi there,
Im trying to figure out where I went wrong and would appreciate if you could give me some help.
I have the same steps and calculations as you but start to go wrong when I calculate gross profit immediately for each selling price, 3c/2 and c/2.
Gross profit for 60% of hats = (3c/2-c)*0.6x = 0.3xc
Gross profit for 70% of remainder of hats = (c/2-c)*0.28x = -0.14xc
Total gross profit = 0.3xc -0.14xc = 0.16xc
Gross profit as % of total cost = 0.16xc / xc =16%.
Im trying to figure out where I went wrong and would appreciate if you could give me some help.
I have the same steps and calculations as you but start to go wrong when I calculate gross profit immediately for each selling price, 3c/2 and c/2.
Gross profit for 60% of hats = (3c/2-c)*0.6x = 0.3xc
Gross profit for 70% of remainder of hats = (c/2-c)*0.28x = -0.14xc
Total gross profit = 0.3xc -0.14xc = 0.16xc
Gross profit as % of total cost = 0.16xc / xc =16%.
GMATcpm wrote:
rakman123 wrote:
A store sold 60 percent of the hats from a shipment of hats at a selling price that was 50 percent greater than the store's cost for each hat. Then the store reduced the selling price by 66 2/3 percent and sold 70 percent of the remaining hats at the reduced selling price. If the store did not sell any other hats form the shipment, then the store's gross profit from the sale of the hats from the shipment was what percent of the store's cost for the hats from the shipment?
A) 1%
B)
...
A) 1%
B)
...
Statistics : Posted by Bunuel • on 28 Jun 2023, 06:22 • Replies 14 • Views 8262