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A dishonest retailer cheats his wholesaler and customer both.

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A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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New post 29 Jun 2020, 07:16
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A dishonest retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customers. What is profit percentage by selling the goods at Cost Price?

A. 34
B. 36
C. 32
D. 38
E. 40
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Re: A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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New post 29 Jun 2020, 07:25
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Explanation:

Profit % = {119 × (100/85)}−100
= 40 %

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Re: A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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New post 29 Jun 2020, 07:32
yashikaaggarwal wrote:
A dishonest retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customers. What is profit percentage by selling the goods at Cost Price?

A. 34%
B. 36%
C. 32%
D. 38%
E. 40%


Profit% = goods left * 100 / goods sold

lets suppose retailer buys goods worth 100, due to cheating he gets goods worth 119.
while selling he sells 15% less, so instead of selling 100 he only sells 85.

goods left = 119 - 85 = 34
goods sold = 85
P% = 34 * 100 / 85 = 40%
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A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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New post 29 Jun 2020, 07:41
IMO E

Total profit percentage = (119 x 100/85) - 100 = 3400/85 = 40%

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Re: A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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New post 30 Jun 2020, 11:53
Hello folks. A quick question re: this topic. I'm following the same logic as in the answers to the problem bellow:

"A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage." and the answer is 21%.

However, I end up with 36.85% rather than with 40%. My logic is that the trader will earn 1.19 when buying and then another 1.15 when selling. so, overall, it'll get to 1.19*1.15= 1.3685 which translates to 36.85% profit. Can someone, help me understand what I'm missing here. Or at least how the two problems differ?

Thanks
GMAT Club Bot
Re: A dishonest retailer cheats his wholesaler and customer both.   [#permalink] 30 Jun 2020, 11:53

A dishonest retailer cheats his wholesaler and customer both.

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