Find all School-related info fast with the new School-Specific MBA Forum

It is currently 16 Sep 2014, 23:56

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A clock store sold a certain clock to a collector for 20 per

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
avatar
Joined: 03 Apr 2006
Posts: 46
Followers: 0

Kudos [?]: 2 [0], given: 0

GMAT Tests User
A clock store sold a certain clock to a collector for 20 per [#permalink] New post 11 Jun 2007, 20:02
2
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

67% (03:01) correct 33% (02:46) wrong based on 95 sessions
A clock store sold a certain clock to a collector for 20 percent more than the store had originally paid for the clock. When the collector tried to resell the clock to the store, the store bought it back at 50 percent of what the collector had paid. The shop then sold the clock again at a profit of 80 percent on its buy-back price. If the difference between the clock's original cost to the shop and the clock's buy-back price was $100, for how much did the shop sell the clock the second time?

A. $270
B. $250
C. $240
D. $220
E. $200
[Reveal] Spoiler: OA

Last edited by Bunuel on 06 May 2014, 08:27, edited 1 time in total.
Renamed the topic, edited the question and added the OA.
3 KUDOS received
Senior Manager
Senior Manager
avatar
Joined: 04 Jun 2007
Posts: 350
Followers: 1

Kudos [?]: 14 [3] , given: 0

GMAT Tests User
 [#permalink] New post 11 Jun 2007, 20:42
3
This post received
KUDOS
$270

Original Price = x
Sold to collector at 1.2x

re-buy price = 1.2x * 0.5 = 0.6x

therefore, x - 0.6x = 100; x = 250

second selling price = 1.8 * 0.6 * 250 = 270

Hope, this is not too confusing :)
1 KUDOS received
Senior Manager
Senior Manager
User avatar
Joined: 04 Mar 2007
Posts: 447
Followers: 1

Kudos [?]: 12 [1] , given: 0

GMAT Tests User
 [#permalink] New post 12 Jun 2007, 09:52
1
This post received
KUDOS
100 % - original price
120 % - sell 1
60 % - bought 2
180*60/100 = 108 % - sell 2

100$ - 40%
x - 108 %
x= 100*108/40 = 270

A
SVP
SVP
User avatar
Joined: 09 Sep 2013
Posts: 2408
Followers: 196

Kudos [?]: 38 [0], given: 0

Premium Member
Re: clock sale - ps [#permalink] New post 06 May 2014, 08:11
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

Expert Post
2 KUDOS received
Veritas Prep GMAT Instructor
User avatar
Joined: 16 Oct 2010
Posts: 4765
Location: Pune, India
Followers: 1112

Kudos [?]: 5038 [2] , given: 164

Re: A clock store sold a certain clock to a collector for 20 per [#permalink] New post 06 May 2014, 19:22
2
This post received
KUDOS
Expert's post
hsk wrote:
A clock store sold a certain clock to a collector for 20 percent more than the store had originally paid for the clock. When the collector tried to resell the clock to the store, the store bought it back at 50 percent of what the collector had paid. The shop then sold the clock again at a profit of 80 percent on its buy-back price. If the difference between the clock's original cost to the shop and the clock's buy-back price was $100, for how much did the shop sell the clock the second time?

A. $270
B. $250
C. $240
D. $220
E. $200


Assume numbers and then use ratios to fit them in with the actual numbers.

Say the store bought the clock for $100 and sold it to the collector for $120. The store bought back from the collector for $60 and sold it back at $60*18/10 = $108
Here, difference between original cost ($100) and buy back price ($60) is $40. But actually it is given to be $100 which is 2.5 times 40. So the shop sold the clock a second time for $108*2.5 = $270
_________________

Karishma
Veritas Prep | GMAT Instructor
My Blog

Save $100 on Veritas Prep GMAT Courses And Admissions Consulting
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options.

Veritas Prep Reviews

Re: A clock store sold a certain clock to a collector for 20 per   [#permalink] 06 May 2014, 19:22
    Similar topics Author Replies Last post
Similar
Topics:
1 Clock student26 3 02 Nov 2010, 23:29
A certain clock marks every hour by striking a number of Rayn 3 01 Aug 2006, 14:37
A certain clock marks every hour by striking a number of myc2004 3 28 Mar 2006, 17:10
1 A certain clock marks every hour by striking a number of jlui4477 2 20 Feb 2006, 13:11
A certain clock marks every hour by striking a number of kdhong 2 25 Oct 2005, 12:31
Display posts from previous: Sort by

A clock store sold a certain clock to a collector for 20 per

  Question banks Downloads My Bookmarks Reviews Important topics  


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.