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A certain manufacturer increased its gross profit on a

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Joined: 24 Nov 2012
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A certain manufacturer increased its gross profit on a [#permalink] New post 27 Nov 2012, 00:23
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40% (02:51) correct 60% (00:46) wrong based on 25 sessions
A certain manufacturer increased its gross profit on a product from 10 percent of the cost of the product to 15 percent of the cost by changing the selling price. If the new selling price was $92.00 and the cost of the product remained the same, what was the old selling price?

A. $77.40
B. $80.00
C. $83.64
D. $87.40
E. $88.00

Last edited by Bunuel on 27 Nov 2012, 02:20, edited 1 time in total.
Renamed the topic and edited the tags.
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Re: A certain manufacturer increased its gross profit on a [#permalink] New post 27 Nov 2012, 02:19
Expert's post
saxenarahul021 wrote:
A certain manufacturer increased its gross profit on a product from 10 percent of the cost of the product to 15 percent of the cost by changing the selling price. If the new selling price was $92.00 and the cost of the product remained the same, what was the old selling price?

A. $77.40
B. $80.00
C. $83.64
D. $87.40
E. $88.00


Given that {cost of the product}*1.15=$92 --> {cost of the product}=$80.

The old price was $80*1.1=$88.

Answer: E.
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Re: A certain manufacturer increased its gross profit on a   [#permalink] 27 Nov 2012, 02:19
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