A car dealership sells three types of vehicles: Sedans, SUVs, and Trucks. What is the total profit earned from these sales in a month?
Statements:
I: The dealership sells Sedans for $20,000 each with a profit margin of 15%. SUVs are sold for $30,000 each with a profit margin of 20%, and Trucks are sold for $40,000 each with a profit margin of 25%. The dealership sold 50 Sedans, 30 SUVs, and 20 Trucks in the month.
II: The total sales of Sedans and SUVs combined contributed to 70% of the total sales revenue for the month. The dealership aims to increase Truck sales by 50% next month.
III: Last month’s total profit was $60,000, and this month is expected to increase by 10% due to a seasonal promotion.
Statement I: Profit from Sedans = 50 * $20,000 * 0.15 = $150,000. Profit from SUVs = 30 * $30,000 * 0.20 = $120,000. Profit from Trucks = 20 * $40,000 * 0.25 = $200,000. Total profit = $150,000 + $120,000 + $200,000 = $470,000. Sufficient. Statement II: This provides a relationship but does not give specific profit amounts to determine total profit. Not sufficient. Statement III: This provides last month's profit but does not give information about the current month's specific sales, making it insufficient. Not sufficient. The answer is A.
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