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I just took my first test on GMATPrep, this one caught me

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Director
Joined: 29 Aug 2005
Posts: 879
Followers: 7

Kudos [?]: 215 [0], given: 7

I just took my first test on GMATPrep, this one caught me [#permalink]  24 Apr 2007, 12:44
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 2 sessions
I just took my first test on GMATPrep, this one caught me for some reason.
Can someone EXPLAIN how to solve it please?
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Current Student
Joined: 22 Apr 2007
Posts: 1097
Followers: 5

Kudos [?]: 21 [0], given: 0

SP = 150 + SP (40/100)

=> (60/100)SP = 150
Multiplying by 2/3,
(40/100)SP = 150X2/3 = 100

Since (40/100)SP was the profit (See the first equation), so answer is 100
GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5068
Location: Singapore
Followers: 23

Kudos [?]: 194 [0], given: 0

Purchase price = 150
sale price = y

y = 150 + 0.4y -> 0.6y = 150, y = 250

So profit = 100.
Director
Joined: 29 Aug 2005
Posts: 879
Followers: 7

Kudos [?]: 215 [0], given: 7

now I can see what can happen under pressure

thanks!
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