NEW HERE? LEARN MORE
closeclose
Last visit was: 25 Apr 2024, 10:11 It is currently 25 Apr 2024, 10:11
Decision Tracker
My Rewards
New posts
New comers' posts

Close
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
Your Progress

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
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

A store sold a packet of 10 identical pens for a total of x dollars.

SORT BY:
Date
Kudos
Tags:
Find Similar Topics 
Show Tags
Hide Tags
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 92914
Own Kudos [?]: 618967 [5]
Given Kudos: 81595
Send PM
CAT Tests Forum Quiz Mode
A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   09 Mar 2020, 06:21
5
Bookmarks
Expert Reply
00:00
A
B
C
D
E

Difficulty:

35% (medium)

Question Stats:

66% (01:35) correct 34% (01:40) wrong based on 199 sessions
Hide Show timer Statistics
A store sold a packet of 10 identical pens for a total of x dollars. The store originally purchased the packet of pens for 80% of the amount for which it sold the packet. In terms of x, how much profit did the store make on a single pen?

A. x/5

B. x/10

C. 4x/5

D. x/50

E. 4x/50
ShowHide Answer
Official Answer
D
User avatar
L
shameekv1989
Director
Director
Joined: 14 Dec 2019
Posts: 829
Own Kudos [?]: 888 [3]
Given Kudos: 354
Location: Poland
Concentration: Entrepreneurship, Strategy
Schools: Cambridge '22 (D) WBS (A$) IIMA PGPX'22 (D) WHU MBA (WD) ISB'22 (D)
GMAT 1: 640 Q49 V27
GMAT 2: 660 Q49 V31
GMAT 3: 720 Q50 V38
GPA: 4
WE:Engineering (Consumer Electronics)
Send PM
GMAT ToolKit User Reviews Badge
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   09 Mar 2020, 07:05
3
Kudos
Bunuel wrote:
A store sold a packet of 10 identical pens for a total of x dollars. The store originally purchased the packet of pens for 80% of the amount for which it sold the packet. In terms of x, how much profit did the store make on a single pen?

A. x/5

B. x/10

C. 4x/5

D. x/50

E. 4x/50


\(Selling Price per pen = \frac{x}{10}\)

\(Buying Price per pen = \frac{4x}{50}\) (For 10 pens)

\(Profit = \frac{x}{10} - \frac{4x}{50}\)

\(Profit = \frac{x}{50}\)

Answer - D
User avatar
L
yashikaaggarwal
Senior Moderator - Masters Forum
Joined: 19 Jan 2020
Posts: 3137
Own Kudos [?]: 2769 [1]
Given Kudos: 1510
Location: India
Schools: Cranfield (A) Warwick MiM "23 (M)
GPA: 4
WE:Analyst (Internet and New Media)
Send PM
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   09 Mar 2020, 06:44
1
Bookmarks
I don't know whether there is any mistake in the options or not. But the answer is 25% profit.
For instance:
He sell 10 pencil for 10 rupees each. Thus getting receipt of 100 rupees. And he bought it for 80% cost price which is 80.
So his profit will be 100-80/80*100 = 25%
{(S.P.-C.P.)/C.P.*100}
So if anyone know the solution to the confusion. Kindly revert.
Thank you.

Posted from my mobile device
User avatar
L
Kinshook
GMAT Club Legend
GMAT Club Legend
Joined: 03 Jun 2019
Posts: 5344
Own Kudos [?]: 3964 [0]
Given Kudos: 160
Location: India
Schools: HBS '22 CBS '22 Wharton '22
GMAT 1: 690 Q50 V34
WE:Engineering (Transportation)
Send PM
Reviews Badge
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   09 Mar 2020, 07:57
Bunuel wrote:
A store sold a packet of 10 identical pens for a total of x dollars. The store originally purchased the packet of pens for 80% of the amount for which it sold the packet. In terms of x, how much profit did the store make on a single pen?

A. x/5

B. x/10

C. 4x/5

D. x/50

E. 4x/50


Selling price of a pen = x/10
Cost price of a pen = .8x/10 = 8x/100 = 2x/25
Proft per pen = x/10 - 2x/25 = (5x-4x)/50 = x/50

IMO D
User avatar
L
Kinshook
GMAT Club Legend
GMAT Club Legend
Joined: 03 Jun 2019
Posts: 5344
Own Kudos [?]: 3964 [0]
Given Kudos: 160
Location: India
Schools: HBS '22 CBS '22 Wharton '22
GMAT 1: 690 Q50 V34
WE:Engineering (Transportation)
Send PM
Reviews Badge
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   09 Mar 2020, 07:58
yashikaaggarwal wrote:
I don't know whether there is any mistake in the options or not. But the answer is 25% profit.
For instance:
He sell 10 pencil for 10 rupees each. Thus getting receipt of 100 rupees. And he bought it for 80% cost price which is 80.
So his profit will be 100-80/80*100 = 25%
{(S.P.-C.P.)/C.P.*100}
So if anyone know the solution to the confusion. Kindly revert.
Thank you.

Posted from my mobile device


yashikaaggarwal

The question does not ask % profit but profit per pen (absolute value)
Please see my solution
User avatar
L
yashikaaggarwal
Senior Moderator - Masters Forum
Joined: 19 Jan 2020
Posts: 3137
Own Kudos [?]: 2769 [0]
Given Kudos: 1510
Location: India
Schools: Cranfield (A) Warwick MiM "23 (M)
GPA: 4
WE:Analyst (Internet and New Media)
Send PM
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   09 Mar 2020, 08:32
Kinshook wrote:
yashikaaggarwal wrote:
I don't know whether there is any mistake in the options or not. But the answer is 25% profit.
For instance:
He sell 10 pencil for 10 rupees each. Thus getting receipt of 100 rupees. And he bought it for 80% cost price which is 80.
So his profit will be 100-80/80*100 = 25%
{(S.P.-C.P.)/C.P.*100}
So if anyone know the solution to the confusion. Kindly revert.
Thank you.

Posted from my mobile device


yashikaaggarwal

The question does not ask % profit but profit per pen (absolute value)
Please see my solution


Yes. Got it now. Thank you
User avatar
SiddharthPatro
Intern
Intern
Joined: 30 Aug 2022
Posts: 4
Own Kudos [?]: 2 [0]
Given Kudos: 20
Location: India
Send PM
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink] New post   03 Sep 2022, 01:02
Ans
10 pens cost=x
cost of 1 pen=x/10

purchase cost for 10 pens=80 % of x
For 1 pen= (80/100)*(x/10)= 4/5*x/10

Profit for 1 pen= Revenue per Pen-Cost per Pen

=x/10 -{(4/5)*(x/10)}

Solving it by taking common LCM

=x/50

Answer is x/50
GMAT Club Bot
gmatclubot
Re: A store sold a packet of 10 identical pens for a total of x dollars. [#permalink]
03 Sep 2022, 01:02
Moderators:
Bunuel
Math Expert
92914 posts
yashikaaggarwal
Senior Moderator - Masters Forum
3137 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions