Latest GRE Aptitude Question SOLUTION: A rug manufacturer produces rugs at a cost of $80 per rug. What is the gross profit of manufacturer from the sale of 120 rugs if 2/3 of the rugs are sold for $90 per rug and the re

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(#M40165873) GRE Numerical Ability question Keep an EYE

A rug manufacturer produces rugs at a cost of $80 per rug. What is the gross profit of manufacturer from the sale of 120 rugs if 2/3 of the rugs are sold for $90 per rug and the rest are sold for $100 per rug? (A) 22½ (B) 18¼ (C) 20⅓ (D) 16⅔

Asked In GRE Devendra Marghade (5 years ago)

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  (5 years ago)

Answer is Option (D)

Cost price of 120 rugs is 120 * ($80) = $9600
Selling Price of 2/3 of the rugs i.e. 80 = 80 *$90 = $7200
Selling Price of remaining rugs = 40*$100 = $4000
Total Selling price = $11200
Profit %= (11200-9600) *100/9600 = 16.66% ~ 16 2/3 (Option D)

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