GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 24 May 2019, 09:21

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.

Close

Request Expert Reply

Confirm Cancel

A book store bought copies of a new book by a popular author

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

Hide Tags

 
Magoosh GMAT Instructor
User avatar
G
Joined: 28 Dec 2011
Posts: 4485
A book store bought copies of a new book by a popular author  [#permalink]

Show Tags

New post 08 Jan 2014, 12:56
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

77% (02:37) correct 23% (03:18) wrong based on 149 sessions

HideShow timer Statistics

A book store bought copies of a new book by a popular author, in anticipation of robust sales. The store bought 400 copies from their supplier, each copy at wholesale price W. The store sold the first 150 copies in the first week at 80% more than W, and then over the next month, sold a 100 more at 20% more than W. Finally, to clear shelf space, the store sold the remaining copies to a bargain retailer at 40% less than W. What was the bookstore’s net percent profit or loss on the entire lot of 400 books?
(A) 30% loss
(B) 10% loss
(C) 10% profit
(D) 20% profit
(E) 60% profit


For more practice problems on percents, as well as the OE for this particular question, see:
http://magoosh.com/gmat/2013/gmat-quant ... -percents/

Mike :-)

_________________
Mike McGarry
Magoosh Test Prep


Education is not the filling of a pail, but the lighting of a fire. — William Butler Yeats (1865 – 1939)
Manager
Manager
User avatar
Status: Work hard in silence, let success make the noise
Joined: 25 Nov 2013
Posts: 130
Location: India
Concentration: Finance, General Management
GMAT 1: 540 Q50 V15
GMAT 2: 640 Q50 V27
GPA: 3.11
WE: Consulting (Computer Software)
Re: A book store bought copies of a new book by a popular author  [#permalink]

Show Tags

New post 08 Jan 2014, 13:22
3
C.P. = 400W
S.P. = 1.8W*150 + 1.2W*100 + 0.6W*150 = 480W
Since, S.P. > C.P., there is net profit.
Profit = S.P. - C.P. = 480W - 400W = 80W
Profit % = (Profit/C.P.)*100 = (80W/400W)*100 = 20%

So, the correct answer is D.
_________________
Sahil Chaudhary
If you find this post helpful, please take a moment to click on the "+1 KUDOS" icon.
My IELTS 7.5 Experience
From 540 to 640...Done with GMAT!!!
http://www.sahilchaudhary007.blogspot.com
Retired Moderator
User avatar
Joined: 20 Dec 2013
Posts: 171
Location: United States (NY)
GMAT 1: 640 Q44 V34
GMAT 2: 710 Q48 V40
GMAT 3: 720 Q49 V40
GPA: 3.16
WE: Consulting (Venture Capital)
GMAT ToolKit User Reviews Badge
Re: A book store bought copies of a new book by a popular author  [#permalink]

Show Tags

New post 08 Jan 2014, 19:54
[[w(150)(1.8)+w(100)(1.2)+w(150)(0.6)]/400w] - 1

[50[(3)(1.8) + (2)(1.2) + (3)(0.6)] / (50)(8)] - 1

[(5.4 + 2.4 + 1.8)/8] - [8/8]

+1.6/8

+20%
_________________
Manager
Manager
avatar
B
Joined: 17 Aug 2015
Posts: 99
GMAT ToolKit User
Re: A book store bought copies of a new book by a popular author  [#permalink]

Show Tags

New post 15 Jul 2017, 06:07
The percentage profit does not depend on how many books the person bought or at what price the person bought if we know the above.
Say the person purchased 4 books at $10 each. Here w = 10 . So according to the question the person sold (150/400)*4 books at $18, 100/400* 4 books at $12 and remaining 150 at $6.
So the rev = 1.5*18+1.5*6+12 = 27+12+9 = 48.
Cost is $40 = 4*10. % profit is 20%.
Manager
Manager
avatar
S
Joined: 11 Apr 2018
Posts: 128
Location: India
GPA: 4
WE: Information Technology (Computer Software)
GMAT ToolKit User CAT Tests
Re: A book store bought copies of a new book by a popular author  [#permalink]

Show Tags

New post 12 Apr 2019, 10:15
The store bought 400 copies, each copy at wholesale price W => CP = 400W.
The store sold the first 150 copies at 80% more than W = \(SP_1\) = 150 x 1.80W = 270W.
sold a 100 more at 20% more than W = \(SP_2\) = 100 x 1.20W = 120W.
sold the remaining copies( 400 - 150 -100 ) to a bargain retailer at 40% less than W. = \(SP_3\) = 150 x 0.60W = 90W.
SP = 270W + 120W + 90W = 480W.

Profit = SP - CP = 480W - 400W = 80W.

Profit % = \(\frac{80W}{400W} X 100\) = 20.

Answer: D.
GMAT Club Bot
Re: A book store bought copies of a new book by a popular author   [#permalink] 12 Apr 2019, 10:15
Display posts from previous: Sort by

A book store bought copies of a new book by a popular author

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.