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10 Jul 2010, 21:33
4
00:00

Difficulty:

45% (medium)

Question Stats:

55% (01:12) correct 45% (00:39) wrong based on 100 sessions

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A Certain radio costs the merchant $72. At what price must the merchant sell this radio in order to make a profit of 20% of the selling price? A$86.4
B $92 C$90
D $144 E$148

(I keep on getting the wrong answer, please provide the exact method/technique to solve these questions)

Thanks
Farukh
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Joined: 03 Jun 2010
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Location: United States (MI)
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10 Jul 2010, 23:19
1
ulm wrote:
I've done it.
Let x be a selling price.
72+0.2x=x
x=90 (C)
0.2x is the 20% profit.
Where am i wrong?

This is the correct method. Ans is C
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+1 kudos me if this is of any help...

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Joined: 12 Jun 2010
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16 Jul 2010, 02:23
If selling price is Rs100 and profit is Rs20 (20%) which means cost price is Rs80

Now we will calculate what percent of cost price is profit, x% of 80 = 20

so x becomes 25%, now we know when profit percent is 20% of selling price then that is 25% of cost price,

In question Cost price is Rs72, 25% of 72 will give us profit = Rs18

So selling price = 72+18 = 90

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Joined: 06 May 2015
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06 Sep 2017, 21:42
The question says that what should be the selling price to earn a profit of 20% on the selling price.
90*.2=18
90-18=72. Hence C
Manager
Joined: 12 Feb 2017
Posts: 71

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07 Sep 2017, 01:11
Normally the profit is expressed as profit =Selling price - Cost price
But here we are told that the profit is 20 percent of Selling price .
Let the selling price be X then profit =0.2x
Now the profit according formula = X-72=0.2X
0.8X=72
X=90
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A Certain radio costs the merchant $72. At what price must the merchan [#permalink] ### Show Tags 09 Sep 2017, 12:14 farukhawais wrote: A Certain radio costs the merchant$72. At what price must the merchant sell this radio in order to make a profit of 20% of the selling price?

A $86.4 B$92
C $90 D$144
E $148 (I keep on getting the wrong answer, please provide the exact method/technique to solve these questions) Thanks Farukh This problem is just a little hard to translate. Instead of trying to determine "at what price," with a formula, I started with what is given and used logic. Start with "make a profit of 20 percent of the selling price": .20SP = $$\frac{1}{5}$$SP That's the desired profit. His cost is$72.

He needs to recoup that cost, and add profit. Once he does that (adds cost + profit) . . . he must have his sell price. (There is not much else the result of that sum could be.)

CP + profit = SP

CP = 72
profit = $$\frac{1}{5}$$SP

72 + $$\frac{1}{5}$$SP = SP
72 = $$\frac{4}{5}$$SP
72 * $$\frac{5}{4}$$ = SP
18 * 5 = SP
90 = SP

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Re: A Certain radio costs the merchant $72. At what price must the merchan [#permalink] ### Show Tags 11 Sep 2017, 11:42 farukhawais wrote: A Certain radio costs the merchant$72. At what price must the merchant sell this radio in order to make a profit of 20% of the selling price?

A $86.4 B$92
C $90 D$144
E $148 Let’s let r = selling price. We see that (r - 72) = profit, which is 20% of the selling price. Thus, we have: r - 72 = 0.2r 0.8r = 72 r = 72/0.8 = 720/8 = 90 Answer: C _________________ Scott Woodbury-Stewart Founder and CEO GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions Re: A Certain radio costs the merchant$72. At what price must the merchan   [#permalink] 11 Sep 2017, 11:42
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