GRE Exam Numerical Ability Profit and Loss

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

Read Solution (Total 1)

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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GRE Other Question

Points A, B, C, and D, in that order, lie on a line. If AD = 9 cm, AC = 4 cm, and BD = 6 cm, what is AB (in cm) ? (A) 2 (B) 3 (C) 4 (D) 1 Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was gross profit of Company C ?
(A) $2,250 (B) $2,500 (C) $3,100 (D) $3,250 (E) $3,500