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08 Jun 2016, 10:29
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A man purchases 2 watches for $560. He sells one at 15% profit and the other at a loss of 10%. He neither gains nor loses on the whole. Thus, the cost price of two watches are : A)$ 260 and $300 B)$210 and $350 C)$224 and $336 D)$560 and $560 E)$224 and $350 [Reveal] Spoiler: OA SC Moderator Joined: 13 Apr 2015 Posts: 1543 Location: India Concentration: Strategy, General Management WE: Information Technology (Consulting) Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th [#permalink]

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08 Jun 2016, 10:43
2
KUDOS
x + y = 560 --- (1)
1.15x + 0.9y = 560 --- (2)

(2) - (1) --> 0.15x - 0.1y = 0
15x = 10y
x/y = 2/3 = (2*112)/(3*112) = 224/336

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08 Jun 2016, 18:09
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Expert's post
aayushagrawal wrote:
A man purchases 2 watches for $560. He sells one at 15% profit and the other at a loss of 10%. He neither gains nor loses on the whole. Thus, the cost price of two watches are : A)$ 260 and $300 B)$210 and $350 C)$224 and $336 D)$560 and $560 E)$224 and $350 Hi, Another way from choices- firstly the sum of price of two watches = 560.... so our answer should also add up to 560... D and E can be eliminated.. Work on the remaining choices to see if 15% of lower price is equal to 10% of higher price.. A)$ 260 and $300.....10% of 300 = 30, but clearly 15% of 260 is not 30... Eliminate B)$210 and $350.........10% of 350 = 35, but clearly 15% of 210 will be in decimal... Eliminate C)$224 and $336...............10% of 336 = 33.6, and 15% of 224 is .15*224 = 33.6... CORRECT _________________ Absolute modulus :http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372 Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html BANGALORE/- Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 7878 Location: Pune, India Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th [#permalink]

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08 Jun 2016, 20:51
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Expert's post
aayushagrawal wrote:
A man purchases 2 watches for $560. He sells one at 15% profit and the other at a loss of 10%. He neither gains nor loses on the whole. Thus, the cost price of two watches are : A)$ 260 and $300 B)$210 and $350 C)$224 and $336 D)$560 and $560 E)$224 and $350 Use weighted averages: CPl/CPp = (15 - 0)/(0 - (-10)) = 3/2 Total cost price is$560 and cost price of the two watches are in the ratio 3:2. On the ratio scale 5 is equivalent to actual 560. So cost prices are $336 and$224.

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Get started with Veritas Prep GMAT On Demand for $199 Veritas Prep Reviews Senior Manager Joined: 18 Jan 2010 Posts: 257 Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th [#permalink]

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08 Jun 2016, 20:59
aayushagrawal wrote:
A man purchases 2 watches for $560. He sells one at 15% profit and the other at a loss of 10%. He neither gains nor loses on the whole. Thus, the cost price of two watches are : A)$ 260 and $300 B)$210 and $350 C)$224 and $336 D)$560 and $560 E)$224 and $350 Let initial costs are c1 and c2. Then; c1+c2 = 560 When he sells. 1.5c1+0.9c2 = 560 c1+c2 = 1.5c1+0.9c2 0.15c1 = 0.10c2 $$\frac{c1}{c2}$$ = $$\frac{10}{15}$$ = $$\frac{2}{3}$$ c1+c2 = 560 Then (2/3)c2+c2 = 560. c2 = 336; c1 = 224. C is the answer. Manager Joined: 14 Dec 2015 Posts: 50 Concentration: Entrepreneurship, General Management WE: Information Technology (Computer Software) A man purchases 2 watches for$ 560. He sells one at 15% profit and th [#permalink]

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08 Jun 2016, 23:12
15% profit is nullified by 10% loss that means cost of watch with 15% profit is lower than that of cost of other watch with 10% loss, and both the values should be same.
net profit = profit gained - loss incurred
0 = Profit - Loss --> Profit = Loss

so apply 15% to smaller number and 10% to lower number and check both the values are same.

A- 2.6*15 , 30 (not equal)
B- 2.1*15 , 35 (not equal)
C- 2.24*15, 33.6 (equal, I personally converted 15% to 3/20 for easy calculation as I was doing only mind calc)

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Re: A man purchases 2 watches for $560. He sells one at 15% profit and th [#permalink] ### Show Tags 09 Jun 2016, 07:22 aayushagrawal wrote: A man purchases 2 watches for$ 560. He sells one at 15% profit and the other at a loss of 10%. He neither gains nor loses on the whole. Thus, the cost price of two watches are :

A) $260 and$ 300
B) $210 and$ 350
C) $224 and$336
D) $560 and$560
E) $224 and$ 350

Suppose price of one watch =x
then price of another watch=560-x
As per question one at 15% profit and the other at a loss of 10%
x(1+15/100)+ (560-x)(1-10/100)=560(as no profit ,no loss).
115x/100+9*560/10-9X/10=560
25x=5600
x=224
so another =560-224=336
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Re: A man purchases 2 watches for $560. He sells one at 15% profit and th [#permalink] ### Show Tags 09 Jun 2016, 08:02 aayushagrawal wrote: A man purchases 2 watches for$ 560. He sells one at 15% profit and the other at a loss of 10%. He neither gains nor loses on the whole. Thus, the cost price of two watches are :

A) $260 and$ 300
B) $210 and$ 350
C) $224 and$336
D) $560 and$560
E) $224 and$ 350

x+y= 560

1.15 x+ .90y= 560
x+y = 1.15x + .90y
.1y=.15x

y=1.5x

2.5x= 560
x= 224
y=336

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Re: A man purchases 2 watches for $560. He sells one at 15% profit and th [#permalink] ### Show Tags 03 Jan 2018, 06:21 Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________ Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th   [#permalink] 03 Jan 2018, 06:21
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