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# The selling price of an article is equal to the cost of the

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The selling price of an article is equal to the cost of the [#permalink]  11 Sep 2012, 04:53
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The Official Guide for GMAT® Review, 13th Edition - Quantitative Questions Project

The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price?

(1) The markup on the television set is 25 percent of the cost.
(2) The selling price of the television set is $250. Practice Questions Question: 40 Page: 278 Difficulty: 600 GMAT Club is introducing a new project: The Official Guide for GMAT® Review, 13th Edition - Quantitative Questions Project Each week we'll be posting several questions from The Official Guide for GMAT® Review, 13th Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution. We'll be glad if you participate in development of this project: 1. Please provide your solutions to the questions; 2. Please vote for the best solutions by pressing Kudos button; 3. Please vote for the questions themselves by pressing Kudos button; 4. Please share your views on difficulty level of the questions, so that we have most precise evaluation. Thank you! [Reveal] Spoiler: OA _________________  Kaplan Promo Code Knewton GMAT Discount Codes Manhattan GMAT Discount Codes GMAT Club team member Joined: 02 Sep 2009 Posts: 11594 Followers: 1799 Kudos [?]: 9586 [0], given: 826 Re: The selling price of an article is equal to the cost of the [#permalink] 11 Sep 2012, 04:54 SOLUTION The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price? Given: Price=Cost+Markup. Question: \frac{Markup}{Price}=? (1) The markup on the television set is 25 percent of the cost. Markup=0.25*Cost --> Price=Cost+Markup=Cost+0.25*Cost=1.25*Cost --> \frac{Markup}{Price}=\frac{0.25*Cost}{1.25*Cost}=0.2. Sufficient. (2) The selling price of the television set is$250. Not sufficient to get the ratio required.

Answer: A.
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Re: The selling price of an article is equal to the cost of the [#permalink]  11 Sep 2012, 08:00
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The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price?

(1) The markup on the television set is 25 percent of the cost.
(2) The selling price of the television set is $250. Markup = M Selling Price = P Cost = C P=C+M (1) M=0.25C C=4M Sub back into equation P=4M+M P=5M We want to find M/P which in this case is M/P = 1/5 or 20% so (1) is suff (2) 250 = M + C We cannot solve, so answer is A _________________ If you find my post helpful, please GIVE ME SOME KUDOS! Senior Manager Joined: 15 Jun 2010 Posts: 361 Schools: IE'14, ISB'14, Kellogg'15 WE 1: 7 Yrs in Automobile (Commercial Vehicle industry) Followers: 4 Kudos [?]: 81 [0], given: 50 Re: The selling price of an article is equal to the cost of the [#permalink] 12 Sep 2012, 04:32 Bunuel wrote: The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price? (1) The markup on the television set is 25 percent of the cost. (2) The selling price of the television set is$250.

From Question Stem => SP = CP + M. (M/SP) = ?? %
St 1: Sufficient: M=.25CP, So, SP=CP + .25CP = 1.25CP, Therefore M/SP x 100% = .25/1.25 x 100% = 20%

St 2: Insufficient: SP=$250= CP + M, Two variables with one equation. Hence cannot be solved. Hence Answer is A. _________________ Regards SD ----------------------------- Press Kudos if you like my post. Debrief 610-540-580-710(Long Journey): from-600-540-580-710-finally-achieved-in-4th-attempt-142456.html Senior Manager Joined: 24 Aug 2009 Posts: 282 Schools: Harvard, Columbia, Stern, Booth, LSB, Followers: 2 Kudos [?]: 138 [1] , given: 218 Re: The selling price of an article is equal to the cost of the [#permalink] 12 Sep 2012, 13:13 1 This post received KUDOS The question can be reduced to "What is the ratio of Markup to Selling Price" Let Cost Price = 100P Markup = M Thus Selling price (SP) = 100P +M...........(1) Statement 1 - M=25P ----> & SP =125P ------> Sufficient Statement 2 - SP=250---> No relative amount is given for M----> Thus insufficient Answer A _________________ If you like my Question/Explanation or the contribution, Kindly appreciate by pressing KUDOS. Kudos always maximizes GMATCLUB worth -Game Theory GMAT Club team member Joined: 02 Sep 2009 Posts: 11594 Followers: 1799 Kudos [?]: 9586 [0], given: 826 Re: The selling price of an article is equal to the cost of the [#permalink] 14 Sep 2012, 07:13 SOLUTION The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price? Given: Price=Cost+Markup. Question: \frac{Markup}{Price}=? (1) The markup on the television set is 25 percent of the cost. Markup=0.25*Cost --> Price=Cost+Markup=Cost+0.25*Cost=1.25*Cost --> \frac{Markup}{Price}=\frac{0.25*Cost}{1.25*Cost}=0.2. Sufficient. (2) The selling price of the television set is$250. Not sufficient to get the ratio required.

Answer: A.

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Re: The selling price of an article is equal to the cost of the   [#permalink] 14 Sep 2012, 07:13
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