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

It is currently 07 Jul 2015, 12:22

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 man sold 20 articles for $60 and gained 20%. How many

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
2 KUDOS received
Director
Director
User avatar
Joined: 07 Jun 2004
Posts: 614
Location: PA
Followers: 3

Kudos [?]: 319 [2] , given: 22

A man sold 20 articles for $60 and gained 20%. How many [#permalink] New post 28 Jul 2010, 08:20
2
This post received
KUDOS
8
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

67% (02:46) correct 33% (02:59) wrong based on 142 sessions
A man sold 20 articles for $60 and gained 20%. How many articles should he sell for $90 to incur a loss 20%?

A. 45
B. 36
C. 40
D. 50
E. 48
[Reveal] Spoiler: OA

_________________

If the Q jogged your mind do Kudos me : )

Manager
Manager
avatar
Joined: 02 Apr 2010
Posts: 103
Followers: 5

Kudos [?]: 101 [0], given: 18

Re: Another percent problem [#permalink] New post 28 Jul 2010, 08:35
Production cost per article: $60*(100%-20%) / 20 = $2.40

Required production costs for a loss of 20%: $90*(100% + 20%) = $108

Number of articles to be sold for $108 to incur a 20% loss: $108 / $2.40 = 45

Thus, solution A is correct.
Manager
Manager
avatar
Joined: 20 Mar 2010
Posts: 84
Followers: 2

Kudos [?]: 62 [0], given: 1

Re: Another percent problem [#permalink] New post 28 Jul 2010, 15:55
rxs0005 wrote:
A man sold 20 articles for $60 and gained 20%. How many articles should he sell for $90 to incur a loss 20%?


A. 45


B. 36


C. 40

D. 50

E. 48


If he sells 20 articles for $60 then selling price for each article is $3. Since he gained 20% ,If the production cost per article is x then x*1.2=3 ==> x=$2.5
If a selling price of $90 for y articles makes a 20% loss then production price for those y articles is 90/.08 = 112.5
Since each article costs 2.5, y*2.5 =112.5 ==> y=45
_________________

___________________________________
Please give me kudos if you like my post

Manager
Manager
avatar
Joined: 16 Mar 2010
Posts: 190
Followers: 2

Kudos [?]: 71 [0], given: 9

Re: Another percent problem [#permalink] New post 28 Jul 2010, 19:25
Please help me here... I get the answer 50. OA is definately correct or am i making some mistake please correct me where i am wrong.

20 articles for $60 means selling price = 3
20% profit is made so Cost Price = 2.5

Man has to incur a loss of 20% means he has to make a total loss of 20% and he sells X units in 90$

60+90 = 0.8 * (C.P. for 20+X units)
C.P. for 20+X units = 75*5/2

But the cost price for one unit is 2.5 so, 75*5/(2*2.5) = 75 = Number of units sold.
20 units were sold for 60$ so 55 units sold for 90$

Can someone explain where am i wrong here???
Manager
Manager
avatar
Joined: 20 Mar 2010
Posts: 84
Followers: 2

Kudos [?]: 62 [0], given: 1

Re: Another percent problem [#permalink] New post 28 Jul 2010, 20:33
amitjash wrote:
Please help me here... I get the answer 50. OA is definately correct or am i making some mistake please correct me where i am wrong.

20 articles for $60 means selling price = 3
20% profit is made so Cost Price = 2.5

Man has to incur a loss of 20% means he has to make a total loss of 20% and he sells X units in 90$

60+90 = 0.8 * (C.P. for 20+X units)
C.P. for 20+X units = 75*5/2

But the cost price for one unit is 2.5 so, 75*5/(2*2.5) = 75 = Number of units sold.
20 units were sold for 60$ so 55 units sold for 90$

Can someone explain where am i wrong here???


The loss of 20% in the second part of the question doesn't include the initial 20 items. It's just on the X number of items he needs to sell for a total of $90.
So 90=0.8(C.P of x units) So C.P of x units=$112.5 and since we know that C.P of each item is $2.5.
No of items he need to sell or x= 112.5/2.5 =45
_________________

___________________________________
Please give me kudos if you like my post

SVP
SVP
User avatar
Joined: 06 Sep 2013
Posts: 2046
Concentration: Finance
GMAT 1: 770 Q0 V
Followers: 26

Kudos [?]: 315 [0], given: 355

GMAT ToolKit User
Re: A man sold 20 articles for $60 and gained 20%. How many [#permalink] New post 14 Jan 2014, 12:18
rxs0005 wrote:
A man sold 20 articles for $60 and gained 20%. How many articles should he sell for $90 to incur a loss 20%?

A. 45
B. 36
C. 40
D. 50
E. 48



I think my approach was somewhat different.

60 = 6/5x , so x = 50

That's total cost

So then 50/20 = 5/2 that's cost per article

Now then, 90/x = 5/2 (4/5)

x = # of articles

X = 45

A is the best answer

Cheers!
J :)
Expert Post
Moderator
Moderator
User avatar
Joined: 20 Dec 2013
Posts: 189
Location: United States
GMAT 1: 640 Q44 V34
GMAT 2: 710 Q48 V40
GMAT 3: 720 Q49 V40
GPA: 3.16
WE: Consulting (Consumer Products)
Followers: 3

Kudos [?]: 45 [0], given: 71

GMAT ToolKit User Premium Member Reviews Badge CAT Tests
Re: A man sold 20 articles for $60 and gained 20%. How many [#permalink] New post 16 Jan 2014, 21:01
Expert's post
c=cost per item
q=quantity of items

20%gain
60/20c=1.2
c=3/1.2

20%loss
90/(3/1.2)*q=.8
90=(2.4/1.2)q
q=45
_________________

MY GMAT BLOG - ADVICE - OPINIONS - ANALYSIS

GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 09 Sep 2013
Posts: 5400
Followers: 311

Kudos [?]: 60 [0], given: 0

Premium Member
Re: A man sold 20 articles for $60 and gained 20%. How many [#permalink] New post 16 Jan 2015, 21:08
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

SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1859
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Followers: 23

Kudos [?]: 971 [0], given: 193

Re: A man sold 20 articles for $60 and gained 20%. How many [#permalink] New post 27 Jan 2015, 21:14
1
This post was
BOOKMARKED
Cost price of 20 articles \(= 100 * \frac{60}{120} = 50\)

Cost price per article \(= \frac{50}{20}\)

To make a 20% loss, selling price per article \(= 80 * \frac{50}{20} * \frac{1}{100} = 2\)

Number of articles for $90 loss \(= \frac{90}{2} = 45\)

Answer = A
_________________

Kindly press "+1 Kudos" to appreciate :)

Intern
Intern
avatar
Joined: 14 Aug 2013
Posts: 24
Followers: 0

Kudos [?]: 3 [0], given: 11

Re: A man sold 20 articles for $60 and gained 20%. How many [#permalink] New post 06 Feb 2015, 21:59
CP of 20 items = 50
CP of 1 item = 2.5

To sell one item at 20% loss , SP of 1 item = 2.5*8/100 = 2

We need to sell 45 items to have a SP of $90.

SP = 45
Re: A man sold 20 articles for $60 and gained 20%. How many   [#permalink] 06 Feb 2015, 21:59
    Similar topics Author Replies Last post
Similar
Topics:
10 A solution of 60 ounces of sugar and water is 20% sugar. How Madelaine88 10 04 Mar 2011, 10:18
Experts publish their posts in the topic If the cost price of 20 articles...... pzazz12 3 19 Oct 2010, 04:33
Q: In how many ways can Paul distribute 20 christmas lfox2 6 03 Dec 2006, 00:01
How many digits are needed to write 20! in decimal notation? kevincan 1 19 Sep 2006, 02:34
How many digits are needed to write 20! in decimal notation? kevincan 8 09 Jul 2006, 02:12
Display posts from previous: Sort by

A man sold 20 articles for $60 and gained 20%. How many

  Question banks Downloads My Bookmarks Reviews Important topics  


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®.