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Que: John purchased 3,000 bolts for $30 each. He sold 1,800 bolts for $20 each in the first week.....

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Que: John purchased 3,000 bolts for $30 each. He sold 1,800 bolts for $20 each in the first week.....

by Max@Math Revolution » Sat Mar 13, 2021 9:41 pm

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Que: John purchased 3,000 bolts for $30 each. He sold 1,800 bolts for $20 each in the first week and sold the rest for $40 each in the second week. What was his total profit from sales?

A. $6,000
B. $18,000
C. $25,000
D. $28,000
E. $30,000
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Re: Que: John purchased 3,000 bolts for $30 each. He sold 1,800 bolts for $20 each in the first week.....

by Max@Math Revolution » Mon Mar 15, 2021 8:56 pm
Solution: We have to find the total profit from the sale of 3,000 bolts

Revenues = Total sales; Cost = Purchases

Total cost of 3,000 bolts = 3,000 * 30 = $90,000

Revenue = 1,800 * 20 + 1,200 * 40 = 36,000 + 48,000 = $84,000

=> ∴ Profit = $90,000 - $84,000 = $6,000

Therefore, A is the correct answer.

Answer A
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