GMAT Question > Company C produces toy trucks at a cost of $5...

Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company C's gross profit?

- a)$2,250
- b)$2,500
- c)$3,100
- d)$3,250
- e)$3,500

Correct answer is option 'C'. Can you explain this answer?

The company’s gross profit on the 500 toy trucks is the company’s revenue from selling the trucks minus the company’s cost of producing the trucks. The revenue is (500)($10.00) = $5,000.The cost for the first 100 trucks is (100)($5.00) = $500, and the cost for the other 400 trucks is (400)($3.50) = $1,400 for a total cost of $500 + $1,400 = $1,900. Thus, the company's gross profit is $5,000 - $1,900 = $3,100.

The correct answer is C.

The correct answer is C.

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Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? for GMAT 2023 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2023 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer?.

Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? for GMAT 2023 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2023 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer?.

Solutions for Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT.
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Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Company C produces toy trucks at a cost of $5.00 each for the first 100 trucks and $3.50 for each additional truck. If 500 toy trucks were produced by Company C and sold for $10.00 each, what was Company Cs gross profit?a) $2,250b) $2,500c) $3,100d) $3,250e) $3,500Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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The company’s gross profit on the 500 toy trucks is the company’s revenue from selling the trucks minus the company’s cost of producing the trucks. The revenue is (500)($10.00) = $5,000.The cost for the first 100 trucks is (100)($5.00) = $500, and the cost for the other 400 trucks is (400)($3.50) = $1,400 for a total cost of $500 + $1,400 = $1,900. Thus, the companys gross profit is $5,000 - $1,900 = $3,100.The correct answer is C.