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A toy store s gross profit on a computer game was 10 percent

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A toy store s gross profit on a computer game was 10 percent [#permalink] New post 08 Nov 2008, 19:02
A toy store’s gross profit on a computer game was 10 percent of the cost of the game. If the store increased the selling price of the game from $44 to $46 and the cost of the game remained the same, then the store’s gross profit on the game after the price increase was what percent of the cost of the game?

A. 10.5%
B. 11%
C. 12.5%
D. 13%
E. 15%
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Re: computer game--29 [#permalink] New post 08 Nov 2008, 19:07
the question provides somewhat of an easy number to work with. Since they say that the current selling price is 44$. Based on the 10% margin calculation we can deduce that the cost is 40$.

Now the price has risen from 44 to 46. So gross profit is (46-40) = 6

As a percentage it is (6/40)*100 = 15%

Answer is E
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Re: computer game--29   [#permalink] 08 Nov 2008, 19:07
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A toy store s gross profit on a computer game was 10 percent

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