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# A retailer sold an appliance for $80. If the retailer's gros  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Intern Joined: 18 Nov 2007 Posts: 9 Followers: 0 Kudos [?]: 7 [0], given: 0 A retailer sold an appliance for$80. If the retailer's gros [#permalink]  04 Dec 2007, 22:28
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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.
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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 Senior Manager Joined: 09 Oct 2007 Posts: 467 Followers: 1 Kudos [?]: 27 [0], given: 1 Re: Gross Profit PLEASE HELP [#permalink] 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
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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 GMAT Club Legend Joined: 09 Sep 2013 Posts: 6129 Followers: 342 Kudos [?]: 70 [0], given: 0 Re: A retailer sold an appliance for$80. If the retailer's [#permalink]  03 Apr 2014, 06:41
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Re: A retailer sold an appliance for $80. If the retailer's gros [#permalink] 03 Apr 2014, 12:48 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 SVP Status: The Best Or Nothing Joined: 27 Dec 2012 Posts: 1859 Location: India Concentration: General Management, Technology WE: Information Technology (Computer Software) Followers: 26 Kudos [?]: 1065 [0], given: 193 Re: A retailer sold an appliance for$80. If the retailer's gros [#permalink]  04 Apr 2014, 02:54
80 has 25% profit included

Lets say product was obtained for x

$$\frac{125x}{100} = 80$$

x = 64

Profit earned = 80-64 = 16

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Re: A retailer sold an appliance for $80. If the retailer's gros [#permalink] 29 Jun 2015, 12:11 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 retailer sold an appliance for$80. If the retailer's gros   [#permalink] 29 Jun 2015, 12:11
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