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CUSTOMER PROFITABILITY: What is the average profit per customer? (1) Total customers are 15,600, total revenue is $8.58M, and average gross margin is 62% (2) Total gross profit is $5.32M and total customer base is 15,600

GMAT · 2021 · Data Insights
Question:
CUSTOMER PROFITABILITY: What is the average profit per customer? (1) Total customers are 15,600, total revenue is $8.58M, and average gross margin is 62% (2) Total gross profit is $5.32M and total customer base is 15,600

Options

(A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient
(B) Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient
(C) BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient
(D) EACH statement ALONE is sufficient
(E) Statements (1) and (2) TOGETHER are NOT sufficient
Answer: (D) EACH statement ALONE is sufficient

Explanation:
Statement (1): Gross profit = $8.58M × 0.62 = $5.32M. Profit per customer = $5.32M/15,600 = $341. Sufficient. Statement (2): Profit per customer = $5.32M/15,600 = $341. Sufficient.

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