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In 1995 a certain store had 1,800 tools in stock that had been purchased for $30 each. If 1,000 of these tools were sold

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by M7MBA » Fri Mar 19, 2021 7:53 am

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Difficulty—

In 1995 a certain store had 1,800 tools in stock that had been purchased for $30 each. If 1,000 of these tools were sold in 1995 for $40 each and the remaining 800 were sold in 1996 for $50 each, how much greater was the gross profit on the tools sold in 1996 than the gross profit on those sold in 1995?

A. $0
B. $6,000
C. $8,000
D. $32,000
E. $40,000

Answer: B

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