A store purchased 20 coats that each cost an equal amount and then sold each of the 20 coats at an equal price. What was the store's gross profit on the 20 coats?
1) If the selling price per coat had been twice as much, the gross profit would've been $2,400.
2) If the selling price per coat had been $2 more, the gross profit would've been $440
OA is B. I had D. What am I missing here? Reasoning below.
2 ->
let x = selling price
20*(x + 2) = $440
20x + 40 = $440
20x = $400
x = $20
This only gives me the selling price, but says nothing about what my costs were, and therefore nothing about my gross profit.
1) If the selling price per coat had been twice as much, the gross profit would've been $2,400.
2) If the selling price per coat had been $2 more, the gross profit would've been $440
OA is B. I had D. What am I missing here? Reasoning below.
2 ->
let x = selling price
20*(x + 2) = $440
20x + 40 = $440
20x = $400
x = $20
This only gives me the selling price, but says nothing about what my costs were, and therefore nothing about my gross profit.
