GMAT Problem Solving

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Source: OG11th

Level: 3

The total cost for Company X to produce a batch of tools is $10,000 plus $3 per tool. Each tool sells for $8. The gross profit earned from producing and selling these tools is the total income from sales minus the total production cost. If a batch of 20,000 tools is produced and sold, then Company X's gross profit per tool is

  • A 3
  • B 3.75
  • C 4.5
  • D 5
  • E 5.5

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