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28 Oct 2010, 22:28
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
83% (01:56) correct
17%
(02:19)
wrong
based on 743
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A store’s selling price of $2240 for a certain computer would yield a profit of 40 percent of the store’s cost for the computer. What selling price would yield a profit of 50 percent of the computer’s cost?
(A) $2400
(B) $2464
(C) $2650
(D) $2732
(E) $2800
(A) $2400
(B) $2464
(C) $2650
(D) $2732
(E) $2800
ulm
Joined: 03 Jun 2010
Last visit: 20 Aug 2019
Posts: 95
Given Kudos: 40
Location: United States (MI)
Concentration: Marketing, General Management
Schools: Ross '15 (A) Darden '14 (D) Duke '15 (D)
WE:Business Development (Consumer Packaged Goods)
Products:
29 Oct 2010, 02:38
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If we talk about profit, it is an extra-price, so the total is 140%.
2240 -- 140%
x -- 150%
\(x=2240*150/140=2400\)
(A)
2240 -- 140%
x -- 150%
\(x=2240*150/140=2400\)
(A)
02 Dec 2015, 12:29
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I found the original buying price first because the math turned out to be easier.
2240 = X * 1.4 = X * (7/5). Therefore, X = 2240 * 5/7.
2240 is easily divided by 7 to be 320, which is then easily multiplied by 5 to give X = 1600. To get 50% profit, you need 1600 * 1.5 = 2400.
Answer: A
2240 = X * 1.4 = X * (7/5). Therefore, X = 2240 * 5/7.
2240 is easily divided by 7 to be 320, which is then easily multiplied by 5 to give X = 1600. To get 50% profit, you need 1600 * 1.5 = 2400.
Answer: A
