Q-8: A souvenir vendor purchased 1,000 shirts for a special event at a price of $5 each. The vendor sold 600 of the shirts on the day of the event for $12 each and 300 of the shirts in the week following the event for $4 each. The vendor was unable to sell the remaining shirts. What was the vendor's gross profit on the sale of these shirts?

A. $1,000
B. $2,200
C. $2,700
D. $3,000
E. $3,400

PS11468

Solution:
The cost to the vendor for the shirts was 1,000 x 5 = $5,000.

Revenue from sales was 600 x 12 + 300 x 4 = 7200 + 1200 = $8,400.

Thus, the gross profit = revenue - cost = $8,400 - $5,000 = $3,400.

Answer: E


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