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A retailer sold an appliance for $80. If the retailer's gross profit SORT BY: Tags: Show Tags Hide Tags Intern Joined: 18 Nov 2007 Posts: 5 Own Kudos [?]: 121 [33] Given Kudos: 0 Most Helpful Reply Senior Manager Joined: 09 Aug 2006 Posts: 350 Own Kudos [?]: 976 [9] Given Kudos: 0 General Discussion Manager Joined: 09 Oct 2007 Posts: 241 Own Kudos [?]: 372 [3] Given Kudos: 1 VP Joined: 29 Mar 2007 Posts: 1150 Own Kudos [?]: 1741 [2] Given Kudos: 0 Re: A retailer sold an appliance for$80. If the retailer's gross profit [#permalink]
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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 Intern Joined: 26 Oct 2013 Posts: 18 Own Kudos [?]: 43 [2] Given Kudos: 4 Re: A retailer sold an appliance for$80. If the retailer's gross profit [#permalink]
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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] 2 Kudos 1 Bookmarks 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 Intern Joined: 12 Oct 2019 Posts: 47 Own Kudos [?]: 38 [0] Given Kudos: 8 Re: A retailer sold an appliance for$80. If the retailer's gross profit [#permalink]
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 LBS Moderator Joined: 30 Oct 2019 Posts: 834 Own Kudos [?]: 781 [0] Given Kudos: 1577 Re: A retailer sold an appliance for$80. If the retailer's gross profit [#permalink]
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 = $$p = \frac{c}{4} = 16$$

Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink] 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 retailer sold an appliance for$80. If the retailer's gross profit [#permalink]