1992 AMC 8 Problem 8

Attempt Problem 8 of the 1992 AMC 8 below, then check your answer against the professionally curated solution from LIVE by Po-Shen Loh. You can also try the full timed exam, view all 1992 AMC 8 solutions, or check the answer key.

All problems are used with official legal permission of the Mathematical Association of America (MAA).

8.

A store owner bought 15001500 pencils at $0.10\$0.10 each. If he sells them for $0.25\$0.25 each, how many of them must he sell to make a profit of exactly $100.00?\$100.00?
400400
667667
10001000
15001500
19001900
Answer: C
Concepts:money
Small hint:
First find the total cost of the 15001500 pencils
Big hint:
The revenue must be the cost plus $100;\$100; divide that needed revenue by the $0.25\$0.25 price
Solution:
The pencils cost 1500×$0.10=$150.1500 \times \$0.10 = \$150. To make a $100\$100 profit, the revenue must be $150+$100=$250.\$150 + \$100 = \$250.
At $0.25\$0.25 each, he must sell $250$0.25=1000\dfrac{\$250}{\$0.25} = 1000 pencils.
Thus, the correct answer is C .
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