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A computer appliance dealer bought a computer at a wholesale price of

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michaelkalend
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A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  23 May 2017, 00:18
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A computer appliance dealer bought a computer at a wholesale price of $500 and then sold it at a 20 percent discount off the suggested retail price. If the dealer made a 12 percent profit on the wholesale price, what was the suggested retail price of the computer?

A) $560
B) $580
C) $660
D) $700
E) $730
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Bunuel
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  23 May 2017, 00:34
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michaelkalend wrote:
A computer appliance dealer bought a computer at a wholesale price of $500 and then sold it at a 20 percent discount off the suggested retail price. If the dealer made a 12 percent profit on the wholesale price, what was the suggested retail price of the computer?

A) $560
B) $580
C) $660
D) $700
E) $730


The suggested retail price = x

The compute was actually sold for 0.8*x (at a 20 percent discount).

The dealer made a 12 percent profit on the wholesale price, so 0.8x = 500*1.12 --> x = 700.

Answer: D.
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michaelkalend
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  23 May 2017, 00:40
Bunuel wrote:
michaelkalend wrote:
A computer appliance dealer bought a computer at a wholesale price of $500 and then sold it at a 20 percent discount off the suggested retail price. If the dealer made a 12 percent profit on the wholesale price, what was the suggested retail price of the computer?

A) $560
B) $580
C) $660
D) $700
E) $730


The suggested retail price = x

The compute was actually sold for 0.8*x (at a 20 percent discount).

The dealer made a 12 percent profit on the wholesale price, so 0.8x = 500*1.12 --> x = 700.

Answer: D.


Thank you so much, Bunuel! You are awesome!
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  23 May 2017, 05:44
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michaelkalend wrote:
A computer appliance dealer bought a computer at a wholesale price of $500 and then sold it at a 20 percent discount off the suggested retail price. If the dealer made a 12 percent profit on the wholesale price, what was the suggested retail price of the computer?

A) $560
B) $580
C) $660
D) $700
E) $730


Wholesale price of computer = $500
Let the retail price be X.
Dealer made 12% profit on wholesale price = 20% discount on retail price
112% of 500 = 80% of X
\(\frac{112}{100}\) x 500 = \(\frac{80}{100}\) * X
560 = \(\frac{80}{100}\) * X
X = \(\frac{560 * 100}{80}\) = $700
Answer D...
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  24 May 2017, 00:23
Option D, I did it this way:
Find out the SP of the product, which will be $560 at 12% profit. Now we need to find RP from the given options.
So hit and trial with a little common sense for me and $700 will be the answer. I believe a lot of arithmetic questions can be done with hit and trial but not all.
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  25 May 2017, 15:44
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michaelkalend wrote:
A computer appliance dealer bought a computer at a wholesale price of $500 and then sold it at a 20 percent discount off the suggested retail price. If the dealer made a 12 percent profit on the wholesale price, what was the suggested retail price of the computer?

A) $560
B) $580
C) $660
D) $700
E) $730


We can let r = the suggested retail price of the computer.

Since the dealer sold the computer at a 20% discount off the suggested retail price, the dealer sold the computer for 0.8r. Since the dealer made a 12% profit, we can create the following equation to determine r:

revenue - cost = 0.12(cost)

0.8r - 500 = 0.12(500)

0.8r - 500 = 60

0.8r = 560

r = 560/0.8 = 700

Answer: D
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hassan233
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink] New post  21 Jul 2021, 23:04
"bought a computer at a wholesale price of $500"
W = Wholesale price
W = 500

"sold it at a 20 percent discount off the suggested retail price"
S = Selling price
R = Retail price
S = (.8)(R)

"the dealer made a 12 percent profit on the wholesale price"
aka, the dealers selling price is 12% of the wholesale price + the wholesale price
S = (1.12)(W)

(.8)(R) = (1.12)(W)
(.8)(R) = (1.12)(500)
(.8)(R) = 560
(4/5)(R) = 560
R = 560 * (5/4)
R = 2800/4
R = 700
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Re: A computer appliance dealer bought a computer at a wholesale price of [#permalink]
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