SOLUTION: A store brought a $1000 shipment of sweaters and offered them for sale after a $15 markup on each sweater. All but 10 sweaters were sold, and the store made a $400 profit on the sw

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Question 637151: A store brought a $1000 shipment of sweaters and offered them for sale after a $15 markup on each sweater. All but 10 sweaters were sold, and the store made a $400 profit on the sweaters. How many sweaters did the store buy?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A store brought a $1000 shipment of sweaters and offered them for sale after a $15 markup on each sweater. All but 10 sweaters were sold, and the store made a $400 profit on the sweaters. How many sweaters did the store buy?
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Let the # of sweaters bought be "x".
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Average price paid was 1000/x dollars
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Markup price was (1000/x)+15 dollars
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Profit equation:
value of those sold - cost = profit
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(x-10)[(1000/x)+15] - 1000 = 400
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(x-10)[(1000+15x)/x] = 1400
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(1-(10/x)(1000+15x) = 1400
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x = 25 (# of shirts purchased)
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Cheers,
Stan H.