Last visit was: 12 Oct 2024, 18:46 It is currently 12 Oct 2024, 18:46
Decision Tracker
My Rewards
Unanswered
Active Topics
New posts
New comers' posts
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.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

A dishonest retailer cheats his wholesaler and customer both. He purch

SORT BY:
Date
Kudos
Tags:
Find Similar Topics 
Show Tags
Hide Tags
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 96080
Own Kudos [?]: 667549 [4]
Given Kudos: 87605
Send PM
CAT Tests Forum Quiz Mode
A dishonest retailer cheats his wholesaler and customer both. He purch [#permalink] A dishonest retailer cheats his wholesaler and customer both. He purch   11 Jan 2022, 06:30
4
Bookmarks
Expert Reply
00:00
A
B
C
D
E

Difficulty:

95% (hard)

Question Stats:

46% (02:39) correct 54% (02:01) wrong based on 76 sessions
Hide Show DIFFICULTY AND TIMER STATISTICS
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. 32
B. 34
C. 36
D. 38
E. 40
ShowHide Answer
Official Answer
E
Most Helpful Reply
User avatar
G
sujoykrdatta
Tutor
Joined: 26 Jun 2014
Status:Mentor & Coach | GMAT Q51 | CAT 99.98
Posts: 450
Own Kudos [?]: 870 [5]
Given Kudos: 8
Send PM
Re: A dishonest retailer cheats his wholesaler and customer both. He purch [#permalink] A dishonest retailer cheats his wholesaler and customer both. He purch   11 Jan 2022, 10:05
2
Kudos
3
Bookmarks
Expert Reply
Bunuel
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. 32
B. 34
C. 36
D. 38
E. 40

When he purchases 19% more, it means that he manages to get 19% more quantity than what he was supposed to get at the price.
Thus, his profit = 19%

He sells 15% less
Thus, he gives 85 instead of giving 100 to the customer, making profit of 15 out of 85 = 15/85 x 100 ~ 17.6%

Thus, his net profit = successive profits of 19% and 17.6%
= 19 + 17.6 + 19 x 17.6/100
= 36.6 + 3.3
= 40%

Answer E


Alternative approach:

The person cheats 19% while buying and cheats 15% while selling
Thus, we can say that the selling price of 85 units is equal to the cost of 119 units
Thus, profit = 119 - 85 = 34
Percent profit = 34/85 x 100 = 40%

Answer E
General Discussion
User avatar
L
sayan640
Joined: 29 Oct 2015
Posts: 1236
Own Kudos [?]: 572 [0]
Given Kudos: 754
GMAT 1: 570 Q42 V28
Send PM
Reviews Badge CAT Tests Forum Quiz Mode
Re: A dishonest retailer cheats his wholesaler and customer both. He purch [#permalink] A dishonest retailer cheats his wholesaler and customer both. He purch   20 Sep 2024, 16:56
MartyMurray KarishmaB Can you please share its solution ?
User avatar
P
tgsankar10
Joined: 27 Mar 2024
Posts: 172
Own Kudos [?]: 215 [1]
Given Kudos: 68
Location: India
Send PM
Re: A dishonest retailer cheats his wholesaler and customer both. He purch [#permalink] A dishonest retailer cheats his wholesaler and customer both. He purch   20 Sep 2024, 23:35
1
Kudos
Lets say the retailer spends \($100\), he gets \(19\text{%}\) more of the product, and lets say it is \(119\) products.

He sells \(119\) products for \($x\) amount at the same cost price. The \(119\) products are \(15\text{%}\) less than what was paid for.

\(0.85x=119\)

\(x=\frac{119}{0.85}=140\)

He spent \($100\) and gets \($140\) at the end.

So \(40\text{%}\) profit

Answer: E
GMAT Club Bot
gmatclubot
Re: A dishonest retailer cheats his wholesaler and customer both. He purch [#permalink]
20 Sep 2024, 23:35
Moderator:
Bunuel
Math Expert
96080 posts