Events & Promotions
|
|
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
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Apr 2808:00 AM PDT
-11:00 AM PDT
Whether you are just beginning your MBA journey or fine-tuning your path to a 700+ score, GMAT Day is designed to give you a competitive edge.
31 Jan 2020, 00:07
Kudos
Bookmarks
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
85%
(hard)
Question Stats:
64% (02:58) correct
36%
(02:56)
wrong
based on 181
sessions
History
Date
Time
Result
Not Attempted Yet
Adam and Bryan buy two articles for $1000 and $2000, respectively. Adam marks his goods up by x%, while Bryan marks his goods up by 2x% and offers a discount of x%. If both make the same non-zero profit, find the value of x.
A. 12.5%
B. 25%
C. 37%
D. 40%
E. 50%
A. 12.5%
B. 25%
C. 37%
D. 40%
E. 50%
31 Jan 2020, 00:28
Kudos
Bookmarks
One easy way is to work with options here.
Ideally we should have started with option C. However, 37 is hardly a number easy to work with. So let's start with option A instead:
Since A marks up by x%, his profit is also x% of $1000
= 12.5% of 1000
= $125
For B: price after marking up by 2x = 25% is
125% of 2000
= $2500
Price after discount of 12.5% (i.e. 1/8th discount)
= 2500 * (1 - 1/8)
=~ $2187
Thus, profit is $187 - doesn't match with that of A
Let's repeat the process with option B:
A's profit is x% of $1000
= 25% of 1000
= $250
For B: price after marking up by 2x = 50% is
150% of 2000
= $3000
Price after discount of 25% (i.e. 1/4th discount)
= 3000 * (1 - 1/4)
= $2250
Thus, profit is $250 - matches with that of A
Answer B
With equations, we would have:
Profit of A = x% of 1000 = $10x
For B: price after marking up by 2x = 50% is (100 + 2x)% of 2000
Price after discount of x%
= (100 - x)% of (100 + 2x)% of 2000
= $[0.2(100 - x)(100 + 2x)]
Thus, profit
= $[0.2(100 - x)(100 + 2x) - 2000]
We now need to equate the profits to calculate x - tough ask
Posted from my mobile device
Ideally we should have started with option C. However, 37 is hardly a number easy to work with. So let's start with option A instead:
Since A marks up by x%, his profit is also x% of $1000
= 12.5% of 1000
= $125
For B: price after marking up by 2x = 25% is
125% of 2000
= $2500
Price after discount of 12.5% (i.e. 1/8th discount)
= 2500 * (1 - 1/8)
=~ $2187
Thus, profit is $187 - doesn't match with that of A
Let's repeat the process with option B:
A's profit is x% of $1000
= 25% of 1000
= $250
For B: price after marking up by 2x = 50% is
150% of 2000
= $3000
Price after discount of 25% (i.e. 1/4th discount)
= 3000 * (1 - 1/4)
= $2250
Thus, profit is $250 - matches with that of A
Answer B
With equations, we would have:
Profit of A = x% of 1000 = $10x
For B: price after marking up by 2x = 50% is (100 + 2x)% of 2000
Price after discount of x%
= (100 - x)% of (100 + 2x)% of 2000
= $[0.2(100 - x)(100 + 2x)]
Thus, profit
= $[0.2(100 - x)(100 + 2x) - 2000]
We now need to equate the profits to calculate x - tough ask
Posted from my mobile device
31 Jan 2020, 00:54
Kudos
Bookmarks
Let's solve the question in an innovative manner:
The profits for A and B are equal, say P. However, for A and B, the cost of B is double of that of A
Thus, the percent profit of A is double of that of B
Percent profit of A = \(x%\)
Thus, Percent profit of B should be = \((x/2)%\)
Using successive percent change relation, we have:
Percent change of B
\(= 2x - x - (2x)(x)/100\)
\(= x - x^2/50\)
Thus:
\(x - x^2/50 = x/2\)
Solving:
\(x/2 = x^2/50\)
\(=> x = 25%\)
Answer B
Posted from my mobile device
The profits for A and B are equal, say P. However, for A and B, the cost of B is double of that of A
Thus, the percent profit of A is double of that of B
Percent profit of A = \(x%\)
Thus, Percent profit of B should be = \((x/2)%\)
Using successive percent change relation, we have:
Percent change of B
\(= 2x - x - (2x)(x)/100\)
\(= x - x^2/50\)
Thus:
\(x - x^2/50 = x/2\)
Solving:
\(x/2 = x^2/50\)
\(=> x = 25%\)
Answer B
Posted from my mobile device
