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A trader bought a consignment at a purchase price of $800 and sold it

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A trader bought a consignment at a purchase price of $800 and sold it  [#permalink]

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New post 24 Sep 2018, 05:43
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A
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  45% (medium)

Question Stats:

59% (02:03) correct 41% (01:55) wrong based on 17 sessions

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A trader bought a consignment at a purchase price of $800 and sold it for 20% less than the marked price. If the trader made a profit equivalent to 30% of the purchase price, what is the marked price of the consignment?

(A) $1000
(B) $1200
(C) $1300
(D) $1350
(E) $1500

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Re: A trader bought a consignment at a purchase price of $800 and sold it  [#permalink]

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New post 24 Sep 2018, 19:59
Bunuel wrote:
A trader bought a consignment at a purchase price of $800 and sold it for 20% less than the marked price. If the trader made a profit equivalent to 30% of the purchase price, what is the marked price of the consignment?

(A) $1000
(B) $1200
(C) $1300
(D) $1350
(E) $1500


Profit = 30% of 800 = 240

Selling price = 800+240 = 1040

But the selling price = 80% of marked price after 20% discount

i.e. 0.8 MP = 1040
i.e. marked Price = 1040/0.8 = 1300

Answer: Option C
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Re: A trader bought a consignment at a purchase price of $800 and sold it &nbs [#permalink] 24 Sep 2018, 19:59
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