The Paintball Park bought 100 paint ball guns auctioned off en bloc for $7889.00. This means that each gun has the same cost. On inspection, the guns were classified as high quality, medium, and low quality. The 70 high quality guns were sold at a markup of 135% of cost, the 22 guns classified as medium were sold at a markup of 36% of cost, and the guns classified as low quality were sold at 73% of their cost. What was the unit price at which each of the three classifications was sold?

Question

Quizplus · Accepted Answer

First, find the cost per gun: $7889 / 100 = $78.89. For high quality guns, the selling price is 135% markup on cost, so $78.89 * 2.35 = $185.39. For medium quality, the selling price is 36% markup on cost, so $78.89 * 1.36 = $107.29. For low quality, the selling price is 73% markup on cost, so $78.89 * 1.73 = $136.48. However, the correct calculation for the low quality guns should be based on a misunderstanding of "markup" as an increase, but the correct approach for a 73% markup should indeed result in $136.48, indicating a mistake in my explanation. The correct approach for low quality should consider the selling price as a percentage of the cost, not a markup on the cost. Given the options and the correct calculations for high and medium quality guns, the mistake lies in the explanation for the low quality guns. The correct calculation for low quality should actually reflect a decrease or a different interpretation of the given percentages, leading to the correct answer for low quality being $57.59, which aligns with option A when considering the correct prices for high and medium quality guns.

The Paintball Park Bought 100 Paint Ball Guns Auctioned Off