Repost, According the chart above, how many of each toy...

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BTGmoderatorLU: Moderator; Posts: 2554; Joined: Sun Oct 15, 2017 1:50 pmFollowed by: 6 members

by BTGmoderatorLU » Tue Nov 28, 2017 6:04 pm

/Toys / Cost of Manufacture / Profit per Toy/
/__A__/_______$2.5796_______/____$2.4431__/
/__B__/_______$2.5768_______/____$2.4312__/

According the chart above, how many of each toy would have to be manufactured so that the total price of toy A exceeds the total price of toy B by $147.00?

A. 100
B. 1,000
C. 10,000
D. 100,000
E. 1,000,000

The OA is C.

I'm really confused with this PS question. Please, can any expert assist me with it? Thanks in advanced.

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Source: Beat The GMAT — Problem Solving | Tue Nov 28, 2017 6:04 pm

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ErikaPrepScholar: Legendary Member; Posts: 503; Joined: Thu Jul 20, 2017 9:03 amFollowed by: 15 members; Thanked: 86 times; GMAT Score:770

by ErikaPrepScholar » Wed Nov 29, 2017 10:11 am

Here, we need to know that Selling price - Cost of manufacture = Profit. This can be arranged to Selling price = Cost of manufacture + profit. This allows us to find the selling price of an individual toy:

Toy A
Selling price = 2.5796 + 2.4431 = 5.0227

Toy B
Selling price = 2.5768 + 2.4312 = 5.008

We want to sell the same number of Toy A as Toy B. Let's let that equal x. We want the total price of Toy A to exceed the total price of Toy B by $147.00. This gives the equation:

5.0227x = 5.008x + 147

Then we can solve for x:

0.0147x = 147
x = 10,000

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8152; Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members; Location: Los Angeles, CA; Thanked: 43 times

Re: Repost, According the chart above, how many of each toy...

by Scott@TargetTestPrep » Thu Jan 16, 2020 6:47 am

BTGmoderatorLU wrote: ↑
Tue Nov 28, 2017 6:04 pm
/Toys / Cost of Manufacture / Profit per Toy/
/__A__/_______$2.5796_______/____$2.4431__/
/__B__/_______$2.5768_______/____$2.4312__/

According the chart above, how many of each toy would have to be manufactured so that the total price of toy A exceeds the total price of toy B by $147.00?

A. 100
B. 1,000
C. 10,000
D. 100,000
E. 1,000,000

The OA is C.

I'm really confused with this PS question. Please, can any expert assist me with it? Thanks in advanced.

Since Profit = Price - Cost, we see that Price = Profit + Cost.

The price of toy A is 2.5796 + 2.4431 = $5.0227, and the price of toy B is 2.5768 + 2.4312 = $5.008. Letting n = the number of toys produced so that the total price of toy A exceeds the total price of toy B by $147.00, we can create the equation:

5.0227n - 5.008n = 147

0.0147n = 147

147n = 1470,000

n = 10,000

Answer: C

Scott Woodbury-Stewart
Founder and CEO
[email protected]

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