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Loren bought a roll of cloth and sold it for a 5% profit. If [#permalink]
01 Sep 2004, 10:28

00:00

A

B

C

D

E

Difficulty:

(N/A)

Question Stats:

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

25. Loren bought a roll of cloth and sold it for a 5% profit. If Lorenâ€˜s profit was $45.5 total on the cloth, how much did it cost her to buy the cloth?

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...

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.

safe.txmblr Can business make a difference in the great problems that we face? My own view is nuanced. I think business potentially has a significant role to play...