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.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

A man cheats while buying as well as while selling. While [#permalink]
01 Jul 2012, 21:02

2

This post received KUDOS

Expert's post

13

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

85% (hard)

Question Stats:

54% (03:23) correct
46% (01:56) wrong based on 103 sessions

Responding to a pm:

A man cheats while buying as well as while selling. While buying he takes 10% more than what he pays for and while selling he gives 20% less than what he claims to. Find the profit percent, if he sells at 9.09% below the cost price of the claimed weight.

Options:

A. 19.81%

B. 20%

C. 37.5%

D. 25%

E. 37.5%

In weight questions, try to go one step at a time. Say the man buys 100 pounds for $100. But he cheats and takes 110 pounds. This means HIS cost price is $10/11 per pound. While giving 100 pounds, he actually gives only 80 pounds and charges 9.09% less i.e. 1/11 less than the cost price of 100 pounds which is $100. So he sells at 10/11 * 100 = 1000/11 HIS cost price for 80 pounds = 10/11 * 80 = 800/11 HIS selling price for 80 pounds = 1000/11

There is a one step calculation method too. It requires more thought but is faster. The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up. While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%. But he also sells at 9.09% less i.e. gives a discount of 1/11.

second approach seems to be easy after reading your blog post. i am still having a hard time while trying to understnad this line 'While giving 100 pounds, he actually gives only 80 pounds and charges 9.09% less i.e. 1/11 less than the cost price of 100 pounds which is $100. ' _________________

kudos me if you like my post.

Attitude determine everything. all the best and God bless you.

second approach seems to be easy after reading your blog post. i am still having a hard time while trying to understnad this line 'While giving 100 pounds, he actually gives only 80 pounds and charges 9.09% less i.e. 1/11 less than the cost price of 100 pounds which is $100. '

The man claims he is giving you 100 pounds i.e. selling you 100 pounds of product. He is supposedly giving a discount of 9.09% i.e. charging 1/11 less than the cost price of 100 pounds which is $100. So he is charging only 10/11 of $100 = $1000/11 from you for giving you "100 pounds". But actually, by cheating, he gave you only 80 pounds. So he charged you $1000/11 for 80 pounds. Think of a fruit vendor you go to to buy some peaches. He says the cost price of the peaches is $1 per pound. But he is willing to give you a discount of 9.09%. But instead of 100 pounds of peaches, he weighs only 80 pounds and gives you less. Though he charges you for 100 pounds. How much does he charge? 9.09% less than 100 pounds i.e. 1/11 less than 100 pounds i.e. 10/11 * 100 pounds = 1000/11

Re: A man cheats while buying as well as while selling. While [#permalink]
18 Jun 2014, 04:03

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. _________________

Re: A man cheats while buying as well as while selling. While [#permalink]
24 Jul 2014, 10:18

VeritasPrepKarishma wrote:

There is a one step calculation method too. It requires more thought but is faster. The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up. While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%. But he also sells at 9.09% less i.e. gives a discount of 1/11. (1 + m1%)(1 + m2%)(1 - d%) = (1 + p%) 11/10 * 5/4 * 10/11 = (1 + p%) profit % = 25%

Re: A man cheats while buying as well as while selling. While [#permalink]
24 Jul 2014, 19:53

1

This post received KUDOS

Expert's post

GGMAT760 wrote:

VeritasPrepKarishma wrote:

There is a one step calculation method too. It requires more thought but is faster. The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up. While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%. But he also sells at 9.09% less i.e. gives a discount of 1/11. (1 + m1%)(1 + m2%)(1 - d%) = (1 + p%) 11/10 * 5/4 * 10/11 = (1 + p%) profit % = 25%

Re: A man cheats while buying as well as while selling. While [#permalink]
25 Jul 2014, 01:09

VeritasPrepKarishma wrote:

GGMAT760 wrote:

VeritasPrepKarishma wrote:

There is a one step calculation method too. It requires more thought but is faster. The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up. While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%. But he also sells at 9.09% less i.e. gives a discount of 1/11. (1 + m1%)(1 + m2%)(1 - d%) = (1 + p%) 11/10 * 5/4 * 10/11 = (1 + p%) profit % = 25%

Re: A man cheats while buying as well as while selling. While [#permalink]
08 Oct 2015, 03:27

VeritasPrepKarishma wrote:

There is a one step calculation method too. It requires more thought but is faster. The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up. While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%. But he also sells at 9.09% less i.e. gives a discount of 1/11.

Re: A man cheats while buying as well as while selling. While [#permalink]
08 Oct 2015, 20:43

Expert's post

anik19890 wrote:

VeritasPrepKarishma wrote:

There is a one step calculation method too. It requires more thought but is faster. The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up. While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%. But he also sells at 9.09% less i.e. gives a discount of 1/11.

can you please clear about (1+m2)= 5/4?? i can not understand fro m where did u get this.

There are two mark ups in this question - the first mark up of 10% (he takes 110 pounds for which he will get $110 though he pays only $100 for it - that is a 10% mark up) - this gives you 1 + 10/100 = 11/10 the second mark up of 25% (he gives only 80 pounds for which he had paid $80 but charges $100 for it - the markup of $20 on $80 cost price is a 25% mark up) - this gives you (1 + 25/100) = 5/4 _________________

Low GPA MBA Acceptance Rate Analysis Many applicants worry about applying to business school if they have a low GPA. I analyzed the low GPA MBA acceptance rate at...

http://blog.davidbbaker.com/wp-content/uploads/2015/11/12249800_10153820891439090_8007573611012789132_n.jpg When you think about an MBA program, usually the last thing you think of is professional collegiate sport. (Yes American’s I’m going...

Every student has a predefined notion about a MBA degree:- hefty packages, good job opportunities, improvement in position and salaries but how many really know the journey of becoming...