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04 Dec 2007, 23:28
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Difficulty:

15% (low)

Question Stats:

76% (02:08) correct 24% (00:59) wrong based on 184 sessions

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A retailer sold an appliance for $80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit? A.$10
B. $16 C.$20
D. $24 E.$25
[Reveal] Spoiler: OA

Last edited by Bunuel on 03 Apr 2014, 09:37, edited 1 time in total.
Renamed the topic, edited the question, added the OA and moved to PS forum.
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04 Dec 2007, 23:32
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goodglory wrote:
A retailer sold an appliance for $80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit? A. 10 B. 16 C. 20 D. 24 E. 25 B. GP = Selling price - cost = 80-x 80-x = 1/4x x = 64 GP = 80-64 = 16 Senior Manager Joined: 09 Oct 2007 Posts: 466 Re: Gross Profit PLEASE HELP [#permalink] ### Show Tags 05 Dec 2007, 00:37 goodglory wrote: A retailer sold an appliance for$80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit?

1/5=.2, thus:
80*.2=16.0=B
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05 Dec 2007, 00:48
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goodglory wrote:
A retailer sold an appliance for $80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit? A. 10 B. 16 C. 20 D. 24 E. 25 Profit= Revenue - Cost. .25C= 80 -C 1.25C=80 so 5/4C=80 4/5*80=C --> 64 So 80-64= Profit. B GMAT Club Legend Joined: 09 Sep 2013 Posts: 16035 Re: A retailer sold an appliance for$80. If the retailer's [#permalink]

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03 Apr 2014, 07:41
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04 Apr 2014, 03:54
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80 has 25% profit included

Lets say product was obtained for x

$$\frac{125x}{100} = 80$$

x = 64

Profit earned = 80-64 = 16

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17 Mar 2017, 02:12
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).

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