When a company places a wholesale order on coffee cups with the company logo, they pay $\$692$ for $80$ cups. When

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VJesus12: Legendary Member; Posts: 2276; Joined: Sat Oct 14, 2017 6:10 amFollowed by: 3 members

by VJesus12 » Tue Oct 20, 2020 5:31 am

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When a company places a wholesale order on coffee cups with the company logo, they pay $\$692$ for $80$ cups. When Phil wants to buy just one such cup, it costs him $\$12.50.$ How much above the wholesale price per cup is he paying?

A. $\$0.55$
B. $\$3.85$
C. $\$7.35$
D. $\$10.65$
E. $\$14.25$

Answer: B

Source: Magoosh

Source: Beat The GMAT — Problem Solving | Tue Oct 20, 2020 5:31 am

swerve: Legendary Member; Posts: 2604; Joined: Sun Oct 29, 2017 2:04 pmFollowed by: 6 members

Re: When a company places a wholesale order on coffee cups with the company logo, they pay $\$692$ for $80$ cups. Wh

by swerve » Tue Oct 20, 2020 1:01 pm

VJesus12 wrote: ↑
Tue Oct 20, 2020 5:31 am
When a company places a wholesale order on coffee cups with the company logo, they pay $\$692$ for $80$ cups. When Phil wants to buy just one such cup, it costs him $\$12.50.$ How much above the wholesale price per cup is he paying?

A. $\$0.55$
B. $\$3.85$
C. $\$7.35$
D. $\$10.65$
E. $\$14.25$

Answer: B

Source: Magoosh

The wholesale price of Coffee cups is $\dfrac{692}{80}=8.65$

Retail price is $12.50$

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8246; Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members; Location: Los Angeles, CA; Thanked: 43 times

Re: When a company places a wholesale order on coffee cups with the company logo, they pay $\$692$ for $80$ cups. Wh

by Scott@TargetTestPrep » Sun Oct 25, 2020 1:42 pm

VJesus12 wrote: ↑
Tue Oct 20, 2020 5:31 am
When a company places a wholesale order on coffee cups with the company logo, they pay $\$692$ for $80$ cups. When Phil wants to buy just one such cup, it costs him $\$12.50.$ How much above the wholesale price per cup is he paying?

A. $\$0.55$
B. $\$3.85$
C. $\$7.35$
D. $\$10.65$
E. $\$14.25$

Answer: B

Solution:

The wholesale price is 692/80 = $8.65 per cup.

Thus, Phil pays 12.5 - 8.65 = $3.85 above the wholesale price if he buys just one cup.

Answer: B

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