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# What was the price at which a merchant sold a certain

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What was the price at which a merchant sold a certain [#permalink]

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10 Oct 2005, 11:25
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What was the price at which a merchant sold a certain appliance?

(1) The merchant's gross profit on the appliance was 20 percent of the price at which the merchant sold the appliance.
(2) The price at which the merchant sold the appliance was $50 more than the merchant's cost of the appliance. Official Guide 12 Question  Question: 33 Page: 275 Difficulty: 600 Find All Official Guide Questions Video Explanations: [Reveal] Spoiler: OA _________________ The GMAT, too tough to be denied. Beat the tough questions... Manager Joined: 03 Oct 2005 Posts: 87 Followers: 1 Kudos [?]: 5 [0], given: 0 [#permalink] ### Show Tags 10 Oct 2005, 11:53 C it is. 20% profit by itself doesn't give us the cost.$50 profit also doesn't give us the cost.
Together we can tell that 20% is 50. And that will help us find the full price.
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15 Jan 2006, 22:33
1) All we can tell here is that the selling price is 120% of the cost price. But we can have several values representing this 120%. Insufficient.

2) Again, nothing we can tell here except selling price = x+50, assuming the cost price is x dollars. Insufficient.

Using 1) and 2), sufficient since we can equate the 120%x= x+50

Ans: C
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15 Jan 2006, 22:49
C + M = S (M is Margin)
M = 0.2S
Therfore C + 0.2S = S
C = 0.8S (Insufficient)

S = C + 50 (Insufficient)
Together we get

C = 0.8(C + 50)
C = 200
S = 250
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19 Jul 2006, 20:05
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'E' it is.

1) Insuff.
You do not know the price at which the merchant sold the appliance.

2) Insuff.
You do not know the merchantâ€™s cost of the appliance.

Together they are insufficient as well.
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19 Jul 2006, 21:49
M8 wrote:
'E' it is.

1) Insuff.
You do not know the price at which the merchant sold the appliance.

2) Insuff.
You do not know the merchantâ€™s cost of the appliance.

Together they are insufficient as well.

Statement I gross = 0.2 Selling price: INSUFFICIENT
Statement II Selling price= 50 + Cost: Insufficient

Combine
Grossprofit = selling price- cost price= 50
gross profit is 0.2 S from which u can find S
Ans is C
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19 Jul 2006, 22:11
Agree with C.

Statement 1-----> G.profit = 0.2 * S.P
Statement 2-----> C.P = 50 + S.P.

Now G.P = S.P - C.P = 50.
Put this in statement 1 equation and you have S.P.
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19 Jul 2006, 23:50
C.

1) CP + 20/100 *CP = SP
SP-CP = 20/100 *CP

Not Suff

2) SP-CP = 50

Not Suff

Together

20/100 *CP = 50
CP = 250
Hence SP = 300
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Re: data sufficiency question III [#permalink]

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21 Dec 2009, 09:33
IMO C

c/p=x
s/p=y.....?(we are asked to find y)
profit=y-x
s1)
profit=1/5(y)
y-x=1/5(y)
y=5/4(x)
x not know hence
not suff

s2) y-x=50
y can be anything
hence not suff

s1)+s2)--->1/5(y)=50--->y=250 hence suff
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Re: data sufficiency question III [#permalink]

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21 Dec 2009, 09:37
Expert's post
C..
SI tells us relation between profit and selling price..
SII gives us difference in cost and selling price ..we can take that as profit
so profit=$50 =.2 x s.p. _________________ Absolute modulus :http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372 Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html Director Status: No dream is too large, no dreamer is too small Joined: 14 Jul 2010 Posts: 650 Followers: 38 Kudos [?]: 694 [1] , given: 39 Re: DS: Appliance [#permalink] ### Show Tags 13 May 2011, 06:25 1 This post received KUDOS s= selling price c = cost price p = profit p = s - c (a) p=20%s, s-c= .20s 0.8s = c, no information is given about c. INSUF. (b) s = c + 50, no information of C INSUF. FOR C c + 50 - c = 0.20s .2s = 50 s = 250 Ans. C I give no new technique. Sorry! _________________ Collections:- PSof OG solved by GC members: http://gmatclub.com/forum/collection-ps-with-solution-from-gmatclub-110005.html DS of OG solved by GC members: http://gmatclub.com/forum/collection-ds-with-solution-from-gmatclub-110004.html 100 GMAT PREP Quantitative collection http://gmatclub.com/forum/gmat-prep-problem-collections-114358.html Collections of work/rate problems with solutions http://gmatclub.com/forum/collections-of-work-rate-problem-with-solutions-118919.html Mixture problems in a file with best solutions: http://gmatclub.com/forum/mixture-problems-with-best-and-easy-solutions-all-together-124644.html SVP Joined: 16 Nov 2010 Posts: 1673 Location: United States (IN) Concentration: Strategy, Technology Followers: 34 Kudos [?]: 465 [0], given: 36 Re: DS: Appliance [#permalink] ### Show Tags 13 May 2011, 06:59 Profit = SP - CP (1) Profit = 0.20SP => CP = 0.80SP Not Sufficient (2) 50 = SP - CP Not Sufficient (1) + (2) 0.20SP = 50 => SP = 250 Answer - C _________________ Formula of Life -> Achievement/Potential = k * Happiness (where k is a constant) GMAT Club Premium Membership - big benefits and savings VP Status: There is always something new !! Affiliations: PMI,QAI Global,eXampleCG Joined: 08 May 2009 Posts: 1353 Followers: 16 Kudos [?]: 209 [0], given: 10 Re: DS: Appliance [#permalink] ### Show Tags 13 May 2011, 07:56 clean C, where 0.2 * SP = 50 hence SP = 250 _________________ Visit -- http://www.sustainable-sphere.com/ Promote Green Business,Sustainable Living and Green Earth !! Manager Joined: 18 Aug 2011 Posts: 60 Followers: 1 Kudos [?]: 25 [0], given: 6 Re: a GWD math (4) , which hasn't been discussed [#permalink] ### Show Tags 20 Aug 2011, 10:34 Jasontuyj2012 wrote: What was the price at which a merchant sold a certain appliance? (1) The merchant's gross profit on the appliance was 20% of the price at which the merchant sold the appliance. (2) The price at which the merchant sold the appliance was$50 more than the merchant's cost of the appliance.

I chose E.

Clearly, both alone are not sufficient. The first gives a percentage, the second an absolute number, but we need both

1) (R - C)/R = 0.8
2) R - C = 50

Combine and solve => C
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Re: What was the price at which a merchant sold a certain [#permalink]

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13 Jul 2012, 18:57
Is "gross profit" equal to the difference between sale price and cost of good?
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Re: What was the price at which a merchant sold a certain [#permalink]

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14 Jul 2012, 04:00
Expert's post
dianamao wrote:
Is "gross profit" equal to the difference between sale price and cost of good?

Yes, {Gross Profit} = {Selling Price} - {Cost}

What was the price at which a merchant sold a certain appliance?

Question: {Selling Price}=?

(1) The merchant's gross profit on the appliance was 20 percent of the price at which the merchant sold the appliance --> {Selling Price} - {Cost} = 0.2*{Selling Price} --> 0.8*{Selling Price} = {Cost}. One equation two unknowns. Not sufficient.

(2) The price at which the merchant sold the appliance was $50 more than the merchant's cost of the appliance --> {Cost} +$50 = {Selling Price}. One equation two unknowns. Not sufficient.

(1)+(2) We have that 0.8*{Selling Price} = {Cost} and {Cost} +\$50 = {Selling Price}. So, we have two distinct linear equations with two unknowns, hence we can solve for each. Sufficient.

Hope it's clear.
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Re: What was the price at which a merchant sold a certain [#permalink]

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14 Jul 2012, 15:08
Okay thanks. What about "profit" is that the same as gross profit in terms of calculation?
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Re: What was the price at which a merchant sold a certain [#permalink]

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15 Jul 2012, 07:05
Expert's post
dianamao wrote:
Okay thanks. What about "profit" is that the same as gross profit in terms of calculation?

Yes, generally profit and gross profit are the same on the GMAT.
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Re: What was the price at which a merchant sold a certain [#permalink]

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07 Aug 2013, 05:32
profit=Q*Price-Costs, where Q stands for quantity of products sold
None of you mention Q in his calculations. Could you please shed some light on this
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Re: What was the price at which a merchant sold a certain [#permalink]

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07 Aug 2013, 05:35
Galiya wrote:
profit=Q*Price-Costs, where Q stands for quantity of products sold
None of you mention Q in his calculations. Could you please shed some light on this

I personally think this is not an issue;however, to clear the doubt, it reads "appliance". So it is singular.
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Re: What was the price at which a merchant sold a certain   [#permalink] 07 Aug 2013, 05:35

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