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A furniture retailer bought 100 identical chairs at a cost of $20 each. He sold some of the chairs within the first week for $35 each. In the second week, he sold all the remaining chairs for $30 each. If his total profit on the sale of the chairs was greater in the second week than in the first week, which of the following can be the number of chairs sold by the retailer in the second week?
I. 30
II. 60
III. 80
  • a)
    I only
  • b)
    II only
  • c)
    III only
  • d)
    I and II only
  • e)
    II and III only
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
A furniture retailer bought 100 identical chairs at a cost of $20 each...
Given:
  • Number of chairs bought by retailer = 100
  • Cost price of 1 chair = $20
  • First Week
    • Let the number of chairs sold in the first week be z.
    • Selling price per chair = $35
    • So, profit per chair = $35 - $20 = $15
    • So, total profit on selling z chairs = $15z
  • Second Week
    • The number of chairs sold =100 – z
    • Selling price per chair = $30
    • So, profit per chair = $30 - $20 = $10
    • So, total profit on selling 100 - z chairs = $10(100 – z) =$(1000-10z)
  • Profit in 2nd week > Profit in 1st week
To Find: Which of the 3 values is/are possible for 100 –z?
Approach:
  1. To answer the question, we need to find the possible values of z
  2. We’ve already inferred above the profit of 1 and 2 weeks in terms of z.
We’re also given a relation between the profit of 1 and 2 weeks. We’ll use this relation to find the possible values of z.
Working out:
  • Finding possible values of 100 –z
    • Since z < 40, -z > -40
    • So, 100-z > 100 – 40
    • That is, number of chairs sold in the 2 week > 60
  • Evaluating the 3 given values
    • Of the 3 given values, the only value that is greater than 60 is the 3 value (80)
Looking at the answer choices, we see that the correct answer is Option C
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A furniture retailer bought 100 identical chairs at a cost of $20 each. He sold some of the chairs within the first week for $35 each. In the second week, he sold all the remaining chairs for $30 each. If his total profit on the sale of the chairs was greater in the second week than in the first week, which of the following can be the number of chairs sold by the retailer in the second week?I. 30II. 60III. 80a)I onlyb)II onlyc)III onlyd)I and II onlye)II and III onlyCorrect answer is option 'C'. Can you explain this answer?
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A furniture retailer bought 100 identical chairs at a cost of $20 each. He sold some of the chairs within the first week for $35 each. In the second week, he sold all the remaining chairs for $30 each. If his total profit on the sale of the chairs was greater in the second week than in the first week, which of the following can be the number of chairs sold by the retailer in the second week?I. 30II. 60III. 80a)I onlyb)II onlyc)III onlyd)I and II onlye)II and III onlyCorrect answer is option 'C'. Can you explain this answer? for GMAT 2025 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about A furniture retailer bought 100 identical chairs at a cost of $20 each. He sold some of the chairs within the first week for $35 each. In the second week, he sold all the remaining chairs for $30 each. If his total profit on the sale of the chairs was greater in the second week than in the first week, which of the following can be the number of chairs sold by the retailer in the second week?I. 30II. 60III. 80a)I onlyb)II onlyc)III onlyd)I and II onlye)II and III onlyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A furniture retailer bought 100 identical chairs at a cost of $20 each. He sold some of the chairs within the first week for $35 each. In the second week, he sold all the remaining chairs for $30 each. If his total profit on the sale of the chairs was greater in the second week than in the first week, which of the following can be the number of chairs sold by the retailer in the second week?I. 30II. 60III. 80a)I onlyb)II onlyc)III onlyd)I and II onlye)II and III onlyCorrect answer is option 'C'. Can you explain this answer?.
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