GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 22 Oct 2019, 04:25

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# A seller of a pen was asking for such price that would enable him to o

Author Message
TAGS:

### Hide Tags

VP
Joined: 31 Oct 2013
Posts: 1465
Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
A seller of a pen was asking for such price that would enable him to o  [#permalink]

### Show Tags

14 Apr 2019, 02:51
00:00

Difficulty:

25% (medium)

Question Stats:

73% (01:17) correct 27% (01:37) wrong based on 26 sessions

A seller of a pen was asking for such price that would enable him to offer 10% discount and make a profit of 20% on cost. If the cost of the pen was $30, what was his asking price ? A) 32 B) 34 C) 36 D) 38 E) 40 Senior PS Moderator Joined: 26 Feb 2016 Posts: 3333 Location: India GPA: 3.12 Re: A seller of a pen was asking for such price that would enable him to o [#permalink] ### Show Tags 14 Apr 2019, 03:01 1 KSBGC wrote: A seller of a pen was asking for such price that would enable him to offer 10% discount and make a profit of 20% on cost. If the cost of the pen was$ 30, what was his asking price ?

A) 32
B) 34
C) 36
D) 38
E) 40

The seller needs to be able to give a 10% discount and still make 20% on the cost price.

Since the cost of the pen was $30, he would have to sell at 1.2*30 = 36$ to make the 20% profit

Therefore, the marked price on the pen would have to $$\frac{36}{0.9} = \frac{360}{9}$$ = \$40(Option E)
_________________
You've got what it takes, but it will take everything you've got
Re: A seller of a pen was asking for such price that would enable him to o   [#permalink] 14 Apr 2019, 03:01
Display posts from previous: Sort by