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The wholesale cost of a certain coat was $90, but when 15 of the coats were purchased by a retailer, the cost was reduce

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The wholesale cost of a certain coat was $90, but when 15 of the coats were purchased by a retailer, the cost was reduce

by BTGModeratorVI » Fri Aug 14, 2020 1:11 pm

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The wholesale cost of a certain coat was $90, but when 15 of the coats were purchased by a retailer, the cost was reduced so that the total cost of the coats was $1,200. By how much was the wholesale cost of each coat reduced?

A. $6
B. $10
C. $20
D. $80
E. $150

Answer: B
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Re: The wholesale cost of a certain coat was $90, but when 15 of the coats were purchased by a retailer, the cost was re

by Brent@GMATPrepNow » Mon Aug 17, 2020 5:09 am
BTGModeratorVI wrote: ↑
Fri Aug 14, 2020 1:11 pm
 The wholesale cost of a certain coat was $90, but when 15 of the coats were purchased by a retailer, the cost was reduced so that the total cost of the coats was $1,200. By how much was the wholesale cost of each coat reduced?

A. $6
B. $10
C. $20
D. $80
E. $150

Answer: B
Source: GMAT prep
ORIGINAL cost per coat = $90

When 15 of the coats were purchased by a retailer, the cost was reduced so that the total cost of the coats was $1,200.
DISCOUNTED cost per coat = $1,200/15 = $80

By how much was the wholesale cost of each coat reduced?
Cost reduction (per coat) = $90 - $80 = $10

Answer: B

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
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