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A shop buys items and sells them with adding 40% of the buying price.

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A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 21 Nov 2019, 01:58
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[GMAT math practice question]

A shop buys items and sells them with adding 40% of the buying price. When the shop sells the items with \($50\) discount each, it makes a \($300\) profit per item. What is the selling price?

A. \($1155\)

B. \($1225\)

C. \($1355\)

D. \($1455\)

E. \($1555\)

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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 21 Nov 2019, 20:09
1
I really don't understand this problem :(
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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 21 Nov 2019, 20:36
SiddharthR wrote:
I really don't understand this problem :(

The question has a mistake.
it's 40 % of the buying price, not 40.
It's a display error.

Please give kudos!! :thumbup:
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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post Updated on: 21 Nov 2019, 21:56
1
MathRevolution wrote:
[GMAT math practice question]

Editing the question:
A shop buys items and sells them with adding 40% of the buying price. When the shop sells the items with \($50\) discount each, it makes a \($300\) profit per item. What is the difference between the buying price and the selling price?
Find the Selling Price?
A. \($1155\)

B. \($1225\)

C. \($1355\)

D. \($1455\)

E. \($1555\)


Explanation:

Let C.P=X (which is buying price)
S.P= 1.4X
(S.P-C.P) - Discount = Profit
(1.4X-X) - 50 = 300
0.4X=350
X=875.
therefore, 875+350 = 1225$--- Answer B

Originally posted by rajatchopra1994 on 21 Nov 2019, 20:55.
Last edited by rajatchopra1994 on 21 Nov 2019, 21:56, edited 1 time in total.
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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 21 Nov 2019, 21:43
Shouldn't this question ask "What is the selling price?"

Doesn't the question "What is the difference between the buying price and the selling price?" imply $1225 (selling price) - $875 (buying price) = $350?

Perhaps I am misunderstanding something :)
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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 21 Nov 2019, 21:55
1
jnootenboom wrote:
Shouldn't this question ask "What is the selling price?"

Doesn't the question "What is the difference between the buying price and the selling price?" imply $1225 (selling price) - $875 (buying price) = $350?

Perhaps I am misunderstanding something :)


Yes, you are right. Already made a complaint with Bunuel. hope he will edit the Question soon.
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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 22 Nov 2019, 00:47
MathRevolution wrote:
[GMAT math practice question]

A shop buys items and sells them with adding 40% of the buying price. When the shop sells the items with \($50\) discount each, it makes a \($300\) profit per item. What is the difference between the buying price and the selling price?

A. \($1155\)

B. \($1225\)

C. \($1355\)

D. \($1455\)

E. \($1555\)


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Fixed the typo.
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Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 22 Nov 2019, 00:57
CP = x
SP = 1.4x
given
1.4x-50-x = 300
x= 875
so SP ; 1.4*875 ; 1225
IMO B

MathRevolution wrote:
[GMAT math practice question]

A shop buys items and sells them with adding 40% of the buying price. When the shop sells the items with \($50\) discount each, it makes a \($300\) profit per item. What is the difference between the buying price and the selling price?

A. \($1155\)

B. \($1225\)

C. \($1355\)

D. \($1455\)

E. \($1555\)
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Joined: 16 Aug 2015
Posts: 8251
GMAT 1: 760 Q51 V42
GPA: 3.82
Re: A shop buys items and sells them with adding 40% of the buying price.  [#permalink]

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New post 24 Nov 2019, 19:21
=>

Assume \(b\) and \(s\) are the buying price and the selling price, respectively.

We have \(1.4b – 50 = b + 300\) or \(0.4b = 350.\)

Then we have \(b= 875\) and \(s = 875 + 0.4(875) = 1225.\)

Therefore, B is the answer.
Answer: B
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Re: A shop buys items and sells them with adding 40% of the buying price.   [#permalink] 24 Nov 2019, 19:21
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