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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, 03:53
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59% (01:50) correct 40% (00:54) wrong based on 96 sessions
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 [Reveal] Spoiler: OA _________________ Math Expert Joined: 02 Sep 2009 Posts: 15059 Followers: 2517 Kudos [?]: 15441 [0], given: 1550 Re: The selling price of an article is equal to the cost of the [#permalink] 11 Sep 2012, 03:54 Expert's post 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.

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Re: The selling price of an article is equal to the cost of the [#permalink]  11 Sep 2012, 07:00
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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: 363 Schools: IE'14, ISB'14, Kellogg'15 WE 1: 7 Yrs in Automobile (Commercial Vehicle industry) Followers: 5 Kudos [?]: 104 [0], given: 50 Re: The selling price of an article is equal to the cost of the [#permalink] 12 Sep 2012, 03:32 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 Director Joined: 24 Aug 2009 Posts: 514 Schools: Harvard, Columbia, Stern, Booth, LSB, Followers: 8 Kudos [?]: 293 [1] , given: 241 Re: The selling price of an article is equal to the cost of the [#permalink] 12 Sep 2012, 12:13 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 If you have any question regarding my post, kindly pm me or else I won't be able to reply Math Expert Joined: 02 Sep 2009 Posts: 15059 Followers: 2517 Kudos [?]: 15441 [0], given: 1550 Re: The selling price of an article is equal to the cost of the [#permalink] 14 Sep 2012, 06:13 Expert's post 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.

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Re: The selling price of an article is equal to the cost of the   [#permalink] 14 Sep 2012, 06:13
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