carcass wrote:
A photography dealer ordered 60 Model X cameras to be sold for$250 each, whichrepresents a 20 percent markup over the dealer's initialcost for each camera.
Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer's initial cost. What was the dealer's approximate profit or loss as a percent of the dealer's initial cost for the 60 cameras?
(A) 7% loss
(B) 13% loss
(C) 7% profit
(D) 13% profit
(E) 15% profit
have fun. is not difficult to conceptualize but is difficult because if you are not organized and clear you are get in trouble.
I would not show the OA but the rules are stringent. either way try on your own
Cost to dealer for 60 cameras = \(\frac{250}{1.2}*60\) = $12,500
Revenue for 54 cameras = 54*250 = $13,500
Revenue from 6 cameras = \(\frac{250}{2.4}*6\) = $625
Total Revenue = $14,125
Profit percent = \(\frac{14125-12500}{12500}\) = 13%
Answer is D.
Otherwise, If one were short on time and I had to guess, One can eliminate A,B & C by looking at the problem itself and improve my chances of guessing the right answer to 50% between D & E.
Kudos Please... If my post helped.