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

It is currently 29 Jul 2015, 06:50
GMAT Club Tests

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

PS: Profit-Loss Question

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Manager
Manager
avatar
Joined: 11 Jun 2010
Posts: 65
Followers: 1

Kudos [?]: 1 [0], given: 14

PS: Profit-Loss Question [#permalink] New post 10 Jul 2010, 20:33
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

56% (01:36) correct 44% (00:18) wrong based on 9 sessions
A Certain radio costs the merchant $72. At what price must the merchant sell this radio in order to make a profit of 20% of the selling price?

A $86.4
B $92
C $90
D $144
E $148

(I keep on getting the wrong answer, please provide the exact method/technique to solve these questions)

Thanks
Farukh
[Reveal] Spoiler: OA
Manager
Manager
avatar
Joined: 03 Jun 2010
Posts: 183
Location: United States (MI)
Concentration: Marketing, General Management
WE: Business Development (Consumer Products)
Followers: 4

Kudos [?]: 31 [0], given: 40

GMAT ToolKit User
Re: PS: Profit-Loss Question [#permalink] New post 10 Jul 2010, 20:46
I've done it.
Let x be a selling price.
72+0.2x=x
x=90 (C)
0.2x is the 20% profit.
Where am i wrong?
1 KUDOS received
Manager
Manager
User avatar
Joined: 06 Oct 2009
Posts: 69
Followers: 2

Kudos [?]: 31 [1] , given: 5

Re: PS: Profit-Loss Question [#permalink] New post 10 Jul 2010, 22:19
1
This post received
KUDOS
ulm wrote:
I've done it.
Let x be a selling price.
72+0.2x=x
x=90 (C)
0.2x is the 20% profit.
Where am i wrong?


This is the correct method. Ans is C
_________________

+1 kudos me if this is of any help...

Manager
Manager
avatar
Joined: 11 Jun 2010
Posts: 65
Followers: 1

Kudos [?]: 1 [0], given: 14

Re: PS: Profit-Loss Question [#permalink] New post 11 Jul 2010, 01:43
Thanks for your support. I appreciate it.
Manager
Manager
User avatar
Joined: 12 Jun 2007
Posts: 128
Followers: 5

Kudos [?]: 49 [0], given: 2

Re: PS: Profit-Loss Question [#permalink] New post 16 Jul 2010, 01:23
If selling price is Rs100 and profit is Rs20 (20%) which means cost price is Rs80

Now we will calculate what percent of cost price is profit, x% of 80 = 20

so x becomes 25%, now we know when profit percent is 20% of selling price then that is 25% of cost price,

In question Cost price is Rs72, 25% of 72 will give us profit = Rs18

So selling price = 72+18 = 90

correct answer is 90
Re: PS: Profit-Loss Question   [#permalink] 16 Jul 2010, 01:23
    Similar topics Author Replies Last post
Similar
Topics:
Profit Loss Question subhashghosh 3 22 Nov 2010, 04:30
1 PS question tatane90 2 29 Aug 2010, 06:32
2 Experts publish their posts in the topic PS question aiming4mba 5 19 Aug 2010, 21:42
1 PS question aiming4mba 4 16 Aug 2010, 21:49
2 PS question aiming4mba 2 16 Aug 2010, 21:20
Display posts from previous: Sort by

PS: Profit-Loss Question

  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®.