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

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Concentration: Accounting, Finance
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A seller of a pen was asking for such price that would enable him to o  [#permalink]

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New post 14 Apr 2019, 02:51
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A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

75% (01:11) correct 25% (01:33) wrong based on 8 sessions

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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
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Re: A seller of a pen was asking for such price that would enable him to o  [#permalink]

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New post 14 Apr 2019, 03:01
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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)
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Re: A seller of a pen was asking for such price that would enable him to o   [#permalink] 14 Apr 2019, 03:01
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