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In 1995 a certain store had 1,800 tools in stock that had been purchased for Tk. 30 each. If 1,000 of these tools were sold in 1995 for Tk. 40 each and the remaining 800 were sold in 1996 for Tk. 50 each, how much greater was the gross profit on the tools sold in 1996 than of 1995?

In 1995 a certain store had 1,800 tools in stock that had been purchased for Tk. 30 each. If 1,000 of these tools were sold in 1995 for Tk. 40 each and the remaining 800 were sold in 1996 for Tk. 50 each, how much greater was the gross profit on the tools sold in 1996 than of 1995? Correct Answer Tk. 6,000

Cost of 1000 tools = 30 x 1000 = 30000 TK. Cost of 800 tools = 30 x 800 = 2400 TK. Sell in 1995 = 40 x 1000 = 40000 TK Profit in 1995 = 40000 - 30000 = 10000 TK. Sell in 1996 = 50 x 800 = 40000 TK. Profit in 1996 = 40000 - 24000 = 16000 TK. Gross profit difference = 16000 - 10000 = 6000 TK.

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