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A retailer bought a machine at a wholesale price of $90 and [#permalink]

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14 Nov 2010, 23:29

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A retailer bought a machine at a wholesale price of $90 and later on sold it after a 10% discount of the retail price. If the retailer made a profit equivalent to 20% of the whole price, what is the retail price of the machine?

Helpful Geometry formula sheet: http://gmatclub.com/forum/best-geometry-93676.html I hope these will help to understand the basic concepts & strategies. Please Click ON KUDOS Button.

A retailer bought a machine at a wholesale price of $90 and later on sold it after a 10% discount of the retail price. If the retailer made a profit equivalent to 20% of the whole price, what is the retail price of the machine? (A) 81 (B) 100 (C) 120 (D) 135 (E) 160

Let the retail price be \(x\). Then the price at which machine was sold will be \(0.9x\) and this price must be 20% more than $90 (as the retailer made a profit equivalent to 20% of the whole price): \(90*1.2=0.9x\) --> \(x=120\).

Re: A retailer bought a machine at a wholesale price of $90 and [#permalink]

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12 Jan 2014, 13:31

monirjewel wrote:

A retailer bought a machine at a wholesale price of $90 and later on sold it after a 10% discount of the retail price. If the retailer made a profit equivalent to 20% of the whole price, what is the retail price of the machine?

(A) 81 (B) 100 (C) 120 (D) 135 (E) 160

I guess it should say wholesale price rather than 'whole price'

My solution: Wholesale Price= 90 Retail Price, be = x He provides 10 % discount on Retail price= x-10x/100 This Retail price = 20 % profit on Wholesale price x-10x/100 = 90+ 1/5(90) x=120

Re: A retailer bought a machine at a wholesale price of $90 and [#permalink]

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05 May 2015, 08:55

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Re: A retailer bought a machine at a wholesale price of $90 and [#permalink]

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09 May 2015, 14:28

monirjewel wrote:

A retailer bought a machine at a wholesale price of $90 and later on sold it after a 10% discount of the retail price. If the retailer made a profit equivalent to 20% of the whole price, what is the retail price of the machine?

(A) 81 (B) 100 (C) 120 (D) 135 (E) 160

First find the sale price. Profit is 20% so sale price is 1.2*90 = $108. Then, use POE on the answer choices, see which answer choices yields 108 when you subtract 10% of it. 120 - 12 = 108. Answer C it is.

Many Test Takers would take an Algebraic approach to this prompt (which is fine). Since the answers ARE numbers, and the question asks for the retail price of the machine, we can TEST THE ANSWERS.

From the prompt, we're given a number of Facts: 1) A machine was purchased at a wholesale price of $90 2) It was sold after a 10% discount to the RETAIL price 3) The profit on the sale was 20% of the WHOLESALE price

We're asked to find the retail price of the machine.

Since the wholesale price was $90 and the profit was 20% of the wholesale price ([.2][90] = $18), the retail price would have to be above $108, but not that much greater than that.

An appliance dealer bought an answering machine at a wholesale [#permalink]

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26 Jul 2016, 22:57

An appliance dealer bought an answering machine at a wholesale price of $90 and then sold it at a 10 percent discount off the retail price. If the dealer made a 20 percent profit on the wholesale price, what was the retail price of the answering machine?

A) $99 B) $108 C) $110 D) $117 E) $120
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आत्मनॊ मोक्षार्थम् जगद्धिताय च Thanks And Regards Nandish

Re: An appliance dealer bought an answering machine at a wholesale [#permalink]

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26 Jul 2016, 23:46

NandishSS wrote:

An appliance dealer bought an answering machine at a wholesale price of $90 and then sold it at a 10 percent discount off the retail price. If the dealer made a 20 percent profit on the wholesale price, what was the retail price of the answering machine?

An appliance dealer bought an answering machine at a wholesale price of $90 and then sold it at a 10 percent discount off the retail price. If the dealer made a 20 percent profit on the wholesale price, what was the retail price of the answering machine?

A) $99 B) $108 C) $110 D) $117 E) $120

Merging topics. Please refer to the discussion above.
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Re: A retailer bought a machine at a wholesale price of $90 and [#permalink]

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27 Jul 2016, 00:46

AmoyV wrote:

NandishSS wrote:

An appliance dealer bought an answering machine at a wholesale price of $90 and then sold it at a 10 percent discount off the retail price. If the dealer made a 20 percent profit on the wholesale price, what was the retail price of the answering machine?

Re: A retailer bought a machine at a wholesale price of $90 and [#permalink]

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27 Jul 2016, 13:47

monirjewel wrote:

A retailer bought a machine at a wholesale price of $90 and later on sold it after a 10% discount of the retail price. If the retailer made a profit equivalent to 20% of the whole price, what is the retail price of the machine?

(A) 81 (B) 100 (C) 120 (D) 135 (E) 160

He made a profit of 20%. that means the machine was sold at 90*1.2= $108

This price is after 10% discount of retail price or 90% of the retail price

108= .90 P P= 108/.9= 120

C is the answer
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I welcome critical analysis of my post!! That will help me reach 700+

Beyond the various Algebra-based approaches, and TESTing THE ANSWERS, this question has some great logical shortcuts in it that can help you to avoid most of the 'math' involved.

To start, we know that the Wholesale Price was $90. Later, we're told that the dealer made a 20% profit on the Wholesale Price....

(20%)($90) = (.2)($90) = $18

Wholesale Price + Profit = $90 + $18 = $108

However, we were told that the Retail Price was DISCOUNTED by 10% (to get down to $108). We're asked for that original Retail Price.

Whatever that retail price was, we know that it was GREATER than $108.

10% of $108 is a little over $10, so that discount had to be GREATER than $10...

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