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

It is currently 05 May 2016, 00:05
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

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

  post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Intern
Intern
avatar
Joined: 05 Oct 2007
Posts: 16
Followers: 0

Kudos [?]: 29 [0], given: 0

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

Show Tags

New post 30 Oct 2007, 11:10
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

72% (01:53) correct 28% (01:33) wrong based on 87 sessions

HideShow timer Statictics

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
Manager
User avatar
Joined: 02 Aug 2007
Posts: 146
Followers: 1

Kudos [?]: 25 [0], given: 0

 [#permalink]

Show Tags

New post 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
User avatar
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)
Followers: 1

Kudos [?]: 19 [0], given: 7

Re: DS - Percentage [#permalink]

Show Tags

New post 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
Intern
avatar
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

New post 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
Expert Post
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 32625
Followers: 5655

Kudos [?]: 68662 [0], given: 9817

Re: The selling price of an article is equal to the cost of the [#permalink]

Show Tags

New post 25 May 2014, 03:16
Expert's post
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.

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
_________________

New to the Math Forum?
Please read this: All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Re: The selling price of an article is equal to the cost of the   [#permalink] 25 May 2014, 03:16
    Similar topics Author Replies Last post
Similar
Topics:
1 Experts publish their posts in the topic In a certain store, the price of five pens is equal to the price of a Bunuel 4 16 Sep 2015, 04:38
11 Experts publish their posts in the topic If the total price of n equally priced shares of a certain s Bunuel 11 21 Jan 2014, 04:15
5 Experts publish their posts in the topic If the total price of n equally priced shares of a certain fozzzy 4 22 Jan 2013, 05:36
8 Experts publish their posts in the topic The selling price of an article is equal to the cost of the Bunuel 9 11 Sep 2012, 04:53
2 Experts publish their posts in the topic The selling price of an article is equal to the cost of the DeeptiM 4 01 Sep 2011, 10:20
Display posts from previous: Sort by

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

  post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| 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®.