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Loren bought a roll of cloth and sold it for a 5% profit. If

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Manager
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Loren bought a roll of cloth and sold it for a 5% profit. If [#permalink] New post 01 Sep 2004, 10:28
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25. Loren bought a roll of cloth and sold it for a 5% profit. If Loren‘s profit was $45.5 total on the cloth, how much did it cost her to buy the cloth?

(a) $455.
(b) $525.5.
(c) $675.
(d) $810.5.
(e) $864.5.

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 [#permalink] New post 01 Sep 2004, 10:47
Answer should be $910.

Anuramm, where are you getting such questions from (one after the other) ?
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 [#permalink] New post 01 Sep 2004, 12:55
Cost + Profit = Selling price
100% + 5% = 105%

100% = 910


Cost + Profit = Selling price
95% + 5% = 100%

95% = 864,50

Is the 5% profit of the selling price or of the cost?

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Alex
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 [#permalink] New post 01 Sep 2004, 18:57
let cost price be x. selling price is 1.05x.

So 1.05x - x - 45.50
x = $910.

No choice available !! This is the second today I've haven't got a choice !! Help !!
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 [#permalink] New post 01 Sep 2004, 20:46
The question is not very cclear.
Logically the answer would be 910, but in this problem it seems it is 864.5

First calculate the original price which is 910
Then imagine that you made 5% profit on this price, which means 910-45.5 = 864.5

but that is not correct, the question is not precise enough, when you see the answers and when you calculate it, we can presume that the answer is 864.5 which means that the 5% profit where in fact 5% margin on the selling price...
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 [#permalink] New post 01 Sep 2004, 23:03
Even actually i got the CP as 910. But then if you take the profit on SP instead of on CP, then you get choice E. But i couldn't infer that you need to take the profit on SP from the question. So i wanted to know if i am missing out on anything.
amit_drummer,
These questions that i have been posting are from realtest questions. This site claims that they give us the real GMAT questions. So whenever i get struck with something i want to ensure that i am not missing out on something.
Thanks.
  [#permalink] 01 Sep 2004, 23:03
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Loren bought a roll of cloth and sold it for a 5% profit. If

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