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Profit and Loss

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Intern
Intern
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Joined: 29 Mar 2013
Posts: 17
Followers: 0

Kudos [?]: 5 [0], given: 12

Profit and Loss [#permalink] New post 29 Mar 2013, 12:14
Hi,

Q - 2/3 rd of consignment was sold at profit of 6% and rest at 3%. However there is profit of 540, the value of consignment is?
options - a) 18000 b)15000 c)16000 d)1,80,000 e)none of these

Please help me understand this.
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Manager
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Status: Looking to improve
Joined: 15 Jan 2013
Posts: 177
GMAT 1: 530 Q43 V20
GMAT 2: 560 Q42 V25
GMAT 3: 650 Q48 V31
Followers: 1

Kudos [?]: 36 [1] , given: 65

Re: Profit and Loss [#permalink] New post 01 Apr 2013, 09:42
1
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Let x be the value of the consignment.

2/3x *0.06 + 1/3x *0.03 = 540
0.12x + 0.03x = 540 * 3
x = 10,800

Answer - E

//kudos please, if explanation is good
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Intern
Intern
avatar
Joined: 29 Mar 2013
Posts: 17
Followers: 0

Kudos [?]: 5 [0], given: 12

Re: Profit and Loss [#permalink] New post 01 Apr 2013, 09:53
Thank you so much,
I did the same thing but got 10800, but answer they gave is A. so thought I must be doing something wrong :).

------
wip3 wrote:
Q - 2/3 rd of consignment was sold at profit of 6% and rest at 3%. However there is profit of 540, the value of consignment is?
options - a) 18000 b)15000 c)16000 d)1,80,000 e)none of these

2/3(1.06)x + 1/3(1.03)x -x= 540

kudos


----
Intern
Intern
avatar
Joined: 29 Mar 2013
Posts: 17
Followers: 0

Kudos [?]: 5 [0], given: 12

Re: Profit and Loss [#permalink] New post 01 Apr 2013, 09:53
Thank you so much
--------------
nt2010 wrote:
Let x be the value of the consignment.

2/3x *0.06 + 1/3x *0.03 = 540
0.12x + 0.03x = 540 * 3
x = 10,800

Answer - E

//kudos please, if explanation is good
Re: Profit and Loss   [#permalink] 01 Apr 2013, 09:53
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