Find all School-related info fast with the new School-Specific MBA Forum

It is currently 22 May 2015, 18:55

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

If an article is sold at 80% of its present selling price,

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
avatar
Joined: 06 Feb 2012
Posts: 16
Followers: 0

Kudos [?]: 18 [0], given: 7

If an article is sold at 80% of its present selling price, [#permalink] New post 10 Oct 2013, 01:20
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
Hi ,

can anyone help how to solve the following problem ? I am struggling

If an article is sold at 80% of its present selling price,the merchant will make a loss of 4%.What is the % profit does he make by selling at the current selling price?

P.S: Answer choices was not provided.
[Reveal] Spoiler:
Answer : 20



Source :4Gmat
Kaplan GMAT Prep Discount CodesKnewton GMAT Discount CodesManhattan GMAT Discount Codes
Manager
Manager
avatar
Joined: 04 Apr 2013
Posts: 153
Followers: 1

Kudos [?]: 30 [0], given: 36

Re: If an article is sold at 80% of its present selling price, [#permalink] New post 10 Oct 2013, 04:38
radioguy wrote:
Hi ,

can anyone help how to solve the following problem ? I am struggling

If an article is sold at 80% of its present selling price,the merchant will make a loss of 4%.What is the % profit does he make by selling at the current selling price?

P.S: Answer choices was not provided.
[Reveal] Spoiler:
Answer : 20



Source :4Gmat


Radioguy,

SP = selling price
CP = Cost Price

80% of SP = 80/100 (SP) = 4/5(SP)

-- Given ---

[ CP minus (80% of SP)] / CP = 4%

so ( CP - 4/5SP ) / CP = 4/100 -------> EQ 1

when you solve EQ 1, you get

SP = 6/5 CP

Now the profit % if you sell at current selling price.. Let x be the profit %.

CP + CP (x/100) = SP

CP + CP * x/100 = 6/5 CP

1 + x/100 = 6/5
x/100 = 1/5

x= 20.

So prift % = 20%
_________________

Maadhu

MGMAT1 - 540 ( Trying to improve )

Re: If an article is sold at 80% of its present selling price,   [#permalink] 10 Oct 2013, 04:38
    Similar topics Author Replies Last post
Similar
Topics:
3 Experts publish their posts in the topic If the cost price of 6 articles is the same as the selling p Bunuel 0 07 Feb 2014, 02:37
6 Experts publish their posts in the topic The selling price of an article is equal to the cost of the Bunuel 8 11 Sep 2012, 03:53
2 Experts publish their posts in the topic The selling price of an article is equal to the cost of the DeeptiM 4 01 Sep 2011, 09:20
A salesperson sells shoes. At a price of $32, he can sell 80 dancinggeometry 5 12 Sep 2008, 05:43
Experts publish their posts in the topic The selling price of an article is equal to the cost of the rags 4 30 Oct 2007, 10:10
Display posts from previous: Sort by

If an article is sold at 80% of its present selling price,

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.