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08 Jun 2016, 10:29
2
3
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Difficulty:

35% (medium)

Question Stats:

76% (02:43) correct 24% (02:45) wrong based on 79 sessions

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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 $350 SC Moderator Joined: 13 Apr 2015 Posts: 1687 Location: India Concentration: Strategy, General Management GMAT 1: 200 Q1 V1 GPA: 4 WE: Analyst (Retail) Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th  [#permalink]

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08 Jun 2016, 10:43
2
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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Joined: 01 Nov 2015
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08 Jun 2016, 18:09
1
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 $336...............10% of 336 = 33.6, and 15% of 224 is .15*224 = 33.6... CORRECT _________________ 1) Absolute modulus : http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372 2)Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html 3) effects of arithmetic operations : https://gmatclub.com/forum/effects-of-arithmetic-operations-on-fractions-269413.html GMAT online Tutor Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 8787 Location: Pune, India Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th  [#permalink]

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08 Jun 2016, 20:51
1
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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Re: A man purchases 2 watches for $560. He sells one at 15% profit and th [#permalink] Show Tags 08 Jun 2016, 20:59 aayushagrawal wrote: A man purchases 2 watches for$ 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.

Intern
Joined: 14 Dec 2015
Posts: 46
Concentration: Entrepreneurship, General Management
WE: Information Technology (Computer Software)

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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 $350 Suppose price of one watch =x then price of another watch=560-x As per question one at 15% profit and the other at a loss of 10% x(1+15/100)+ (560-x)(1-10/100)=560(as no profit ,no loss). 115x/100+9*560/10-9X/10=560 25x=5600 x=224 so another =560-224=336 Ans C Current Student Joined: 18 Oct 2014 Posts: 843 Location: United States GMAT 1: 660 Q49 V31 GPA: 3.98 Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th  [#permalink]

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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 $350 x+y= 560 1.15 x+ .90y= 560 x+y = 1.15x + .90y .1y=.15x y=1.5x 2.5x= 560 x= 224 y=336 C is the answer _________________ I welcome critical analysis of my post!! That will help me reach 700+ Non-Human User Joined: 09 Sep 2013 Posts: 9423 Re: A man purchases 2 watches for$ 560. He sells one at 15% profit and th  [#permalink]

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