How to find amount of profit

Practice Questions

GRE Quantitative Reasoning › How to find amount of profit

Questions
10
1

A factory has fixed costs of $25,000 per month. It manufactures widgets at a total manufacturing cost of $45 per widget. They are sold at $60. How many widgets must be sold in any given month in order to break even?

2

Mary buys a car from a mean salesman who charges her 12% over the original price of a $15,000 car. Luke buys the same car from a much nicer salesman who gives him an 8% discount off of the original price. How much more does Mary spend on the car than Luke does?

3

A shirt costs $12 to manufacture. If the marketing and sales costs are a 75% addition to this manufacturing cost. What is the minimum price necessary for making a 50% profit?

4

A grade school pays Mr. Day a salary of $24,585 per school year. Each school year contains 165 days. Suppose Mr. Day is sick for a week (5 work days) and the school doesn't have to pay him for those days. Instead, they must pay a substitute teacher to teach his classes. They pay the substitute $90 per day. Totally, how much does the school save for the week Mr. Day is sick?

5

A boy with a lemonade stand sells cups of lemonade for a quarter each. He has bought worth of supplies and is able to make of lemonade with the supplies. If he has to pay a business tax of for each cup he sells, how many cups will he have to sell in order to break even?

6

Sally buys a dress that is a 20% discount from the original price. If she sells it at a 10% markup from her purchase price and profits $10 from the sale, what was the original price of the dress?

7

A new t-shirt has a total cost of 8 dollars for a given retailer. Its current price is $15. If the retailer discounts the cost of the shirt by 20%, how many must it sell in order to make the same amount of profit as when it sold 300 of the shirts at the original price?

8

A laptop computer costs $235 to manufacture. If it is sold for $578, what is the percent of profit made on the item?

9

What percentage of profit is made on a product sold for $20 if its overall production cost was $17.50?

10

Manufacturer X has a base monthly operating cost of $30,000. It makes only one product, which costs $5 per piece in addition to the base operational costs for the plant. These products are each sold for $15 apiece. How many products must the company sell in order to break even in any given month?

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