It is currently 20 Sep 2020, 17:59
My Tests

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It costs a certain bicycle factory a fixed amount of $11,00

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Retired Moderator
User avatar
Joined: 07 Jun 2014
Posts: 4803
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 171

Kudos [?]: 2914 [0], given: 394

It costs a certain bicycle factory a fixed amount of $11,00 [#permalink] New post 27 May 2018, 03:50
Expert's post
00:00

Question Stats:

92% (01:09) correct 7% (00:00) wrong based on 13 sessions
It costs a certain bicycle factory a fixed amount of $11,000 to operate for one month, plus $300 for each bicycle produced during the month. Each of the bicycles sells for a retail price of $700. What is the minimum number of bicycles that the factory must sell in one month to make a profit?

(A) 26
(B) 27
(C) 28
(D) 29
(E) 30
[Reveal] Spoiler: OA

_________________

Sandy
If you found this post useful, please let me know by pressing the Kudos Button

Try our free Online GRE Test

Retired Moderator
User avatar
Joined: 07 Jun 2014
Posts: 4803
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 171

Kudos [?]: 2914 [0], given: 394

Re: It costs a certain bicycle factory a fixed amount of $11,00 [#permalink] New post 27 May 2018, 12:58
Expert's post
Explanation

The question asks how many bicycles the factory must sell to make a profit. One way of phrasing that is to say the profit must be greater than 0. Since Profit = Revenue – Cost, you can rewrite the equation to say:

Revenue – Cost > 0

Let b equal the number of bicycles sold. Each bike sells for $700, so the total revenue is 700b. The cost is equal to $11,000 plus $300 for every bicycle sold.

(700b) – (11,000 + 300b) > 0

Isolate b on one side of the inequality:

700b – 11,000 + 300b > 0
400b – 11,000 > 0
400b > 11,000
b > 27.5

If b must be greater than 27.5, then the factory needs to sell at least 28 bicycles to make a profit.
_________________

Sandy
If you found this post useful, please let me know by pressing the Kudos Button

Try our free Online GRE Test

Director
Director
User avatar
Joined: 22 Jun 2019
Posts: 517
Followers: 4

Kudos [?]: 104 [0], given: 161

CAT Tests
Re: It costs a certain bicycle factory a fixed amount of $11,00 [#permalink] New post 08 Jul 2019, 00:48
sandy wrote:
It costs a certain bicycle factory a fixed amount of $11,000 to operate for one month, plus $300 for each bicycle produced during the month. Each of the bicycles sells for a retail price of $700. What is the minimum number of bicycles that the factory must sell in one month to make a profit?

(A) 26
(B) 27
(C) 28
(D) 29
(E) 30



any other explanation
_________________

New to the GRE, and GRE CLUB Forum?
GRE: All About GRE | Search GRE Specific Questions | Download Vault
Posting Rules: QUANTITATIVE | VERBAL

Questions' Banks and Collection:
ETS: ETS Free PowerPrep 1 & 2 All 320 Questions Explanation. | ETS All Official Guides
3rd Party Resource's: All In One Resource's | All Quant Questions Collection | All Verbal Questions Collection | Manhattan 5lb All Questions Collection
Books: All GRE Best Books
Scores: Average GRE Score Required By Universities in the USA
Tests: All Free & Paid Practice Tests | GRE Prep Club Tests
Extra: Permutations, and Combination
Vocab: GRE Vocabulary
Facebook GRE Prep Group: Click here to join FB GRE Prep Group

1 KUDOS received
GRE Instructor
User avatar
Joined: 10 Apr 2015
Posts: 3826
Followers: 148

Kudos [?]: 4471 [1] , given: 69

CAT Tests
Re: It costs a certain bicycle factory a fixed amount of $11,00 [#permalink] New post 08 Jul 2019, 05:17
1
This post received
KUDOS
Expert's post
huda wrote:
any other explanation


Another approach is to test the answer choices.

Cheers,
Brent
_________________

Brent Hanneson – Creator of greenlighttestprep.com
If you enjoy my solutions, you'll like my GRE prep course.
Image
Sign up for GRE Question of the Day emails

Director
Director
User avatar
Joined: 22 Jun 2019
Posts: 517
Followers: 4

Kudos [?]: 104 [0], given: 161

CAT Tests
Re: It costs a certain bicycle factory a fixed amount of $11,00 [#permalink] New post 09 Jul 2019, 02:54
GreenlightTestPrep wrote:
huda wrote:
any other explanation


Another approach is to test the answer choices.

Cheers,
Brent


yes
_________________

New to the GRE, and GRE CLUB Forum?
GRE: All About GRE | Search GRE Specific Questions | Download Vault
Posting Rules: QUANTITATIVE | VERBAL

Questions' Banks and Collection:
ETS: ETS Free PowerPrep 1 & 2 All 320 Questions Explanation. | ETS All Official Guides
3rd Party Resource's: All In One Resource's | All Quant Questions Collection | All Verbal Questions Collection | Manhattan 5lb All Questions Collection
Books: All GRE Best Books
Scores: Average GRE Score Required By Universities in the USA
Tests: All Free & Paid Practice Tests | GRE Prep Club Tests
Extra: Permutations, and Combination
Vocab: GRE Vocabulary
Facebook GRE Prep Group: Click here to join FB GRE Prep Group

Re: It costs a certain bicycle factory a fixed amount of $11,00   [#permalink] 09 Jul 2019, 02:54
Display posts from previous: Sort by

It costs a certain bicycle factory a fixed amount of $11,00

  Question banks Downloads My Bookmarks Reviews Important topics  


GRE Prep Club Forum Home| About| Terms and Conditions and Privacy Policy| GRE Prep Club Rules| Contact

Powered by phpBB © phpBB Group

Kindly note that the GRE® test is a registered trademark of the Educational Testing Service®, and this site has neither been reviewed nor endorsed by ETS®.