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

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Intern
Joined: 05 Oct 2007
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The selling price of an article is equal to the cost of the [#permalink]

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30 Oct 2007, 11:10
2
This post was
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Difficulty:

25% (medium)

Question Stats:

72% (01:50) correct 28% (01:26) wrong based on 100 sessions

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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. OPEN DISCUSSION OF THIS QUESTION IS HERE: the-selling-price-of-an-article-is-equal-to-the-cost-of-the-138738.html [Reveal] Spoiler: OA Last edited by Bunuel on 25 May 2014, 03:15, edited 1 time in total. Renamed the topic, edited the question and added the OA. Manager Joined: 02 Aug 2007 Posts: 146 Followers: 1 Kudos [?]: 30 [0], given: 0 [#permalink] ### Show Tags 30 Oct 2007, 11:24 1) INSUFF We can get markup in terms of cost, but we don't know cost 2) INSUFF No information on the markup and cost Incorrect, see answer below. Last edited by yuefei on 30 Oct 2007, 11:55, edited 1 time in total. Current Student Joined: 08 Oct 2007 Posts: 169 Location: Berkeley, CA Schools: Berkeley-Haas MBA WE 1: Investment Management (fund of funds) WE 2: Private Equity ($2bn generalist fund)
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30 Oct 2007, 11:52
rags 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. A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient. B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient. C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient. D. EACH statement ALONE is sufficient. E. Statements (1) and (2) TOGETHER are NOT sufficient. Answer should be A: C + M = S st.1 M = 0.25C C + 0.25C = S C = S/1.25 M = (0.25/1.25) * S .......SUFF st.2 INSUFF Intern Joined: 28 Oct 2013 Posts: 4 Followers: 0 Kudos [?]: 0 [0], given: 1 Re: The selling price of an article is equal to the cost of the [#permalink] ### Show Tags 24 May 2014, 21:26 Rephrasing the question Price = Cost + Markup Mark up % = Markup / Price i) Markup = 25% of Cost M = 0.25C P = 0.25 Cost + 1 Cost P = 1.25 Cost Markup % = 0.25/1.25 (Cancel the C) Markup % = 20% ii) Price =$250
250 = C + M
Linear equation. Two unknown variables. Not solveable
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Re: The selling price of an article is equal to the cost of the [#permalink]

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25 May 2014, 03:16
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.

OPEN DISCUSSION OF THIS QUESTION IS HERE: the-selling-price-of-an-article-is-equal-to-the-cost-of-the-138738.html

All OG13 questions with solutions are here: the-official-guide-quantitative-question-directory-143450.html
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Re: The selling price of an article is equal to the cost of the   [#permalink] 25 May 2014, 03:16
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