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A retailer sold an appliance for $80. If the retailer's gros [#permalink] ### Show Tags 04 Dec 2007, 22:28 4 This post was BOOKMARKED 00:00 Difficulty: 15% (low) Question Stats: 76% (02:07) correct 24% (00:59) wrong based on 164 sessions ### HideShow timer Statistics A retailer sold an appliance for$80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit?

A. $10 B.$16
C. $20 D.$24
E. $25 [Reveal] Spoiler: OA Last edited by Bunuel on 03 Apr 2014, 08:37, edited 1 time in total. Renamed the topic, edited the question, added the OA and moved to PS forum. Director Joined: 09 Aug 2006 Posts: 763 Followers: 1 Kudos [?]: 192 [0], given: 0 Re: Gross Profit PLEASE HELP [#permalink] ### Show Tags 04 Dec 2007, 22:32 goodglory wrote: A retailer sold an appliance for$80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit?

A. 10
B. 16
C. 20
D. 24
E. 25

B.

GP = Selling price - cost = 80-x
80-x = 1/4x
x = 64
GP = 80-64 = 16
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04 Dec 2007, 23:37
goodglory wrote:
A retailer sold an appliance for $80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit? 1/5=.2, thus: 80*.2=16.0=B CEO Joined: 29 Mar 2007 Posts: 2583 Followers: 19 Kudos [?]: 421 [1] , given: 0 Re: Gross Profit PLEASE HELP [#permalink] ### Show Tags 04 Dec 2007, 23:48 1 This post received KUDOS goodglory wrote: A retailer sold an appliance for$80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit?

A. 10
B. 16
C. 20
D. 24
E. 25

Profit= Revenue - Cost. .25C= 80 -C 1.25C=80 so 5/4C=80

4/5*80=C --> 64 So 80-64= Profit.

B
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03 Apr 2014, 12:48
1
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Keep in mind the following Formula:
Profit= Selling Price- Cost

Cost=X
Selling Price= 80
Profit= 1/4(x) -->25% of the Cost

Now replace tha variables in the equation

1/4x = 80 - x
5/4x =80
x=64

The question ask for the profit so u just need to put tha value of x in the profit--> 1/4*(64) =16
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29 Jun 2015, 12:11
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Re: A retailer sold an appliance for $80. If the retailer's gros [#permalink] 29 Jun 2015, 12:11 Similar topics Replies Last post Similar Topics: A retailer sold an appliance for 30 percent above cost, which represen 5 08 Dec 2015, 22:05 1 A retail appliance store priced a video recorder at 20 percent above 1 10 Nov 2015, 23:55 The original retail price of an appliance was 60 percent 1 11 Oct 2013, 16:28 18 A retailer bought a shirt at wholesale and marked it up 80% 14 16 Apr 2012, 04:04 5 A retailer bought a shirt at wholesale and marked it up 80% to its ini 7 19 Nov 2011, 10:47 Display posts from previous: Sort by # A retailer sold an appliance for$80. If the retailer's gros

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