Solutions
Get detailed explanations to advanced GMAT questions.
Question
A wholesaler bought 1,200 radios for $18 each. The wholesaler sold 60 percent of the radios for $30 each and the rest for $15 each. What was the wholesaler’s average (arithmetic mean) profit per radio?
Option A:
$2
Option B:
$3
Option C:
$4
Option D:
$5
Option E:
$6
Difficulty Level
EasySolution
Option E is the correct answer.
Option Analysis
60% of radios were sold at $30 and 40% at $15.
Average selling price = (30*0.6 + 15*0.4)/1 = 24
Average cost price = $18
Average profit = $6
Related Questions
- What is the circumference of circular region R?
- Which of the following is equivalent to ((a+b)/2)+ ((a-b)/3)?
- A certain group of car dealerships agreed to donate x dollars to a Red Cross Chapter for each car…
- If the sum of the consecutive integers from –42 to n inclusive is 372, what is the value of n?
- For a certain art exhibit, a museum sold admission tickets to a group of 30 people every 5 minutes from 9:00 in…