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

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Director
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Joined: 29 Aug 2005
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Kudos [?]: 259 [0], given: 7

I just took my first test on GMATPrep, this one caught me [#permalink] New post 24 Apr 2007, 12:44
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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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Joined: 22 Apr 2007
Posts: 1097
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Kudos [?]: 22 [0], given: 0

 [#permalink] New post 24 Apr 2007, 16:09
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
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Joined: 07 Jul 2004
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Location: Singapore
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 [#permalink] New post 24 Apr 2007, 19:14
Purchase price = 150
sale price = y

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

So profit = 100.
Director
Director
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Joined: 29 Aug 2005
Posts: 878
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Kudos [?]: 259 [0], given: 7

 [#permalink] New post 24 Apr 2007, 23:18
now I can see what can happen under pressure :oops:

thanks!
  [#permalink] 24 Apr 2007, 23:18
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I just took my first test on GMATPrep, this one caught me

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