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# A book is sold at a loss of 10%. By what percentage should have the

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Math Expert
Joined: 02 Aug 2009
Posts: 5339

Kudos [?]: 6103 [1], given: 121

A book is sold at a loss of 10%. By what percentage should have the [#permalink]

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04 Nov 2017, 03:15
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25% (medium)

Question Stats:

76% (00:56) correct 24% (01:13) wrong based on 44 sessions

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A book is sold at a loss of 10%. By what percentage should have the selling price of book been increased to earn a profit of 50%?

(A) $$40%$$
(B) $$55\frac{1}{5}%$$
(C) $$60%$$
(D) $$66\frac{2}{3}%$$
(E) Cannot be determined
[Reveal] Spoiler: OA

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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

Kudos [?]: 6103 [1], given: 121

BSchool Forum Moderator
Joined: 26 Feb 2016
Posts: 1691

Kudos [?]: 745 [2], given: 19

Location: India
WE: Sales (Retail)
A book is sold at a loss of 10%. By what percentage should have the [#permalink]

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04 Nov 2017, 04:07
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chetan2u wrote:
A book is sold at a loss of 10%. By what percentage should have the selling price of book been increased to earn a profit of 50%?

(A) $$40%$$
(B) $$55\frac{1}{5}%$$
(C) $$60%$$
(D) $$66\frac{2}{3}%$$
(E) Cannot be determined

Let the cost price of the book be 100$. If the book was sold at a loss of 10%, it would have been sold for 90$.
As we need to earn a profit of 50%, the selling price must have been 150$. There must be an increase of 60$ to the current price of 90\$.

Therefore, the selling price needs to be increased by $$\frac{60}{90}$$ or $$\frac{2}{3}$$rd of the price which is $$66\frac{2}{3}$$%(Option D)
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Kudos [?]: 745 [2], given: 19

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