I just took my first test on GMATPrep, this one caught me : PS Archive
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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: 877
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Kudos [?]: 362 [0], given: 7

I just took my first test on GMATPrep, this one caught me [#permalink]

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24 Apr 2007, 12:44
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0% (00:00) correct 0% (00:00) wrong based on 2 sessions

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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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Current Student
Joined: 22 Apr 2007
Posts: 1097
Followers: 5

Kudos [?]: 26 [0], given: 0

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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
Joined: 07 Jul 2004
Posts: 5062
Location: Singapore
Followers: 30

Kudos [?]: 358 [0], given: 0

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24 Apr 2007, 19:14
Purchase price = 150
sale price = y

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

So profit = 100.
Director
Joined: 29 Aug 2005
Posts: 877
Followers: 9

Kudos [?]: 362 [0], given: 7

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24 Apr 2007, 23:18
now I can see what can happen under pressure

thanks!
24 Apr 2007, 23:18
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