GRE Exam Numerical Ability Arithmetic

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

Read Solution (Total 1)

For 500 trucks produced,
Cost price of 100 trucks = 100 * $5 = $500
Cost price of 400 trucks = 400 * $3.5 = $1400
Total Cost price = $1900
Selling Price = 500 * $10 = $5000
Profit = $5000 - $ 1900 = $3100 (Option C)
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GRE Other Question

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