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A retailer sold an appliance for $80. If the retailer's gross profit

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goodglory
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A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   Updated on: 09 Oct 2019, 05:37
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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
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B

Originally posted by goodglory on 04 Dec 2007, 23:28.
Last edited by Bunuel on 09 Oct 2019, 05:37, edited 2 times in total.
Renamed the topic, edited the question, added the OA and moved to PS forum.
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GK_Gmat
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   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
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asdert
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   05 Dec 2007, 00:37
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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?

1/5=.2, thus:
80*.2=16.0=B
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GMATBLACKBELT
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   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
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   03 Apr 2014, 13:48
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Keep in mind the following Formula:
Profit= Selling Price- Cost

Cost=X
Selling Price= 80
Profit= 1/4(x) -->25% of the Cost

Now replace tha variables in the equation

1/4x = 80 - x
5/4x =80
x=64

The question ask for the profit so u just need to put tha value of x in the profit--> 1/4*(64) =16
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   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

Answer = C
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   23 Jun 2020, 23:16
Let CP be x.
Now, CP + profit = SP.
x + \(\frac{1}{4}\) x = 80

\(\frac{5}{4}\) x = 80.

We need the value of only profit i.e. we need the value of \(\frac{1}{4}\) x. Divide both sides by 5.

\(\frac{1}{4} x = \frac{80}{5}\)

Profit = 16$

OA,B
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
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   24 Jun 2020, 00:30
let sell price be s, cost price be c and profit be p
\(s=80, p=\frac{c}{4}\)
now, \(s-c=p\)
or, \(80-c=\frac{c}{4}\)
or, \(c=16*4\)

Therefore, profit = \(p = \frac{c}{4} = 16\)

Answer: B
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] A retailer sold an appliance for $80. If the retailer's gross profit   14 Nov 2023, 04:35
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
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