BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Target Test Prep · GMAT

Choose how you want to prepare

Learn live with an expert or move at your own pace. Every option includes the complete TTP study system.

★★★★★5.0559 reviews
GMATLiveTeach 7 seats left
Chris Peckover
NEXT LIVE COHORT

Oct 13 to Jan 7, 2027

with Chris Peckover

Schedule
Tue, Thu · 8:00 to 10:00 PM ET
Included
40 live hours + 6 months of GMAT OnDemand
  • Live instruction and real-time questions
  • Class recordings and assigned practice
View class & enroll
Limited cohort · enrollment openTarget Test Prep
EALiveTeach 5 seats left
Logan Thompson
EXECUTIVE ASSESSMENT

Sep 6 to Dec 6, 2026

with Logan Thompson

Schedule
Sun · 9:30 AM to 12:30 PM ET
Included
Live EA class + 6 months of EA OnDemand
  • Expert-led weekly online sessions
  • EA Masterclass access between classes
View EA class & enroll
Limited cohort · enrollment openTarget Test Prep
GMATOnDemand Start anytime
SELF-PACED MASTERCLASS

Target Test Prep GMAT OnDemand

Complete access from day one. Study on your schedule.

130-point score guarantee
$0to start then $127/mo
  • Personalized study plan and analytics
  • Thousands of lessons and practice questions
Start free 5-day trial
Read 559 reviewsTarget Test Prep

Compare the format, schedule, and included access before enrolling. Prices and seat counts shown reflect the supplied offer details.

Que: A merchant bought 2,400 fans for $30 each. He sold 60 percent of the fans for $40 each and the rest for $35......

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
Elite Legendary Member
Posts: 3991
Joined: Fri Jul 24, 2015 2:28 amFollowed by: 37 members
Location: Las Vegas, USA
Thanked: 19 times
by Max@Math Revolution » Sat Jan 09, 2021 9:18 pm

Timer

00:00

Answers

A

B

C

D

E

Stats

Difficulty—

Que: A merchant bought 2,400 fans for $30 each. He sold 60 percent of the fans for $40 each and the rest for $35 each. What was the merchant’s average profit per fan?

(A) $6
(B) $8
(C) $9
(D) $10
(E) $12
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |
User avatar
Elite Legendary Member
Posts: 3991
Joined: Fri Jul 24, 2015 2:28 amFollowed by: 37 members
Location: Las Vegas, USA
Thanked: 19 times

Re: Que: A merchant bought 2,400 fans for $30 each. He sold 60 percent of the fans for $40 each and the rest for $35....

by Max@Math Revolution » Mon Jan 11, 2021 9:16 pm
Solution: Cost price of 2,400 fans = $ (30 * 2400) = $72,000

Number of fans sold at $40 each = \(\frac{60}{100}\cdot2,400\ =\ 1,440\)

Thus, selling price of these 1,440 fans = $(1,440 * 40) = $57,600

Number of fans sold at $ 35 each = 2400 – 1440 = 960

Thus, selling of these 960 fans = $(960 * 35) = $33,600

Total selling price of 2,400 fans = $57,600 + $33, 600 = $91,200

Total profit: Selling price – Cost price = $91,200 - $72,000 = $19,200

Profit per fan: \(\frac{19,200}{2,400}\) = 8

Therefore, B is the correct answer.

Answer B
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 8175
Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members
Location: Los Angeles, CA
Thanked: 43 times

Re: Que: A merchant bought 2,400 fans for $30 each. He sold 60 percent of the fans for $40 each and the rest for $35....

by Scott@TargetTestPrep » Tue Jan 19, 2021 6:21 am
Max@Math Revolution wrote: ↑
Sat Jan 09, 2021 9:18 pm
 Que: A merchant bought 2,400 fans for $30 each. He sold 60 percent of the fans for $40 each and the rest for $35 each. What was the merchant’s average profit per fan?

(A) $6
(B) $8
(C) $9
(D) $10
(E) $12
Solution:

We can use 10 fans as the number of fans bought and sold, instead of 2,400 fans, the actual number of fans bought and sold.

Therefore, the cost is 30 x 10 = $300 and the revenue is 40 x 6 + 35 x 4 = 240 + 140 = $380. We see that the total profit is 380 - 300 = $80 and the average profit per fan is 80/10 = $8.

Answer: B

Scott Woodbury-Stewart
Founder and CEO
[email protected]

Image

See why Target Test Prep is rated 5 out of 5 stars on BEAT the GMAT. Read our reviews

ImageImage
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1