Lamps which cost $120 wholesale are sold for $192, at a profit of $6 per lamp. How many lamps were in the shipment?
Question
Solution 1
Step 1: Determine the profit made from selling one lamp. The lamp is sold for $192 and costs $120 wholesale, so the profit per lamp is $192 - $120 = $72.
Step 2: Determine the total profit made from the shipment. Each lamp makes a profit of $6, so the total profit is $72 / $6 = 12 lamps.
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