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Que: John purchased 2,000 bolts for $15 each. He sold 1,000 bolts for $20 each .......

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by Max@Math Revolution » Wed May 05, 2021 9:30 pm

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A

B

C

D

E

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Que: John purchased 2,000 bolts for $15 each. He sold 1,000 bolts for $20 each in the first week and sold the rest for $30 each in the second week. What was his total profit from sales?

A. $5,000
B. $10,000
C. $15,000
D. $20,000
E. $25,000
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Re: Que: John purchased 2,000 bolts for $15 each. He sold 1,000 bolts for $20 each .......

by Max@Math Revolution » Sat May 08, 2021 8:22 pm
Solution: We have to find the total profit from the sale of 3,000 bolts

Revenues = Total sales; Cost = Purchases

Total cost of 2,000 bolts = 2,000 * 15 = $30,000

Revenue = 1,000 * 20 + 1,000 * 30 = 20,000 + 30,000 = $50,000

=> ∴ Profit = $50,000 - $30,000 = $20,000

Therefore, D is the correct answer.

Answer D
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