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# A clothing store acquired an item at a cost of x dollars and

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Manager
Joined: 10 Oct 2005
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A clothing store acquired an item at a cost of x dollars and [#permalink]  02 Aug 2006, 03:57
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A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

(1) y-x = 20

(2) y/x = 5/4
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SVP
Joined: 30 Mar 2006
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B

Profit = y-x

1) y-x = 20
Percent = P/x *100 = 20/x *100
Not suff

2)y/x = 5/4

Hence P = 5x/4 - x = x/4

Percent = x/4/x * 100 = 100/4 = 25
Suff
Director
Joined: 05 Feb 2006
Posts: 899
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The author gives us the following info:

cost=x
revenue=y
gross profit=y-x

statement 1) y-x=20 or a gross profit of 20.... but we cannot determine how many dollars was the cost of an item so cannot determine the percentage....

statement 2) gives us the value of y (the revenue) and x (the cost) so we can determine the gross profit and the percentage of gross profit of the cost of the item..... answer 1/4=25%

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