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# An American dealer bought a table in Germany for 480 marks and sold th

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Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
Cost price= 480 marks = 480/1.6=$300 Selling price= 2385 francs = 23850/53=$450

Profit= Selling price -Cost price = $450-$300= $150 Answer: D Target Test Prep Representative Joined: 14 Oct 2015 Status:Founder & CEO Affiliations: Target Test Prep Posts: 19190 Own Kudos [?]: 22715 [1] Given Kudos: 286 Location: United States (CA) Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink] 1 Bookmarks Expert Reply gmatt1476 wrote: Exchange Rates in a Particular Year$1 = 5.3 francs
$1 = 1.6 marks An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in dollars? (A)$0
(B) $50 (C)$100
(D) $150 (E)$200

480 marks is 480/1.6 = 300 dollars.

2,385 francs is 2,385/5.3 = 450 dollars.

So, the profit is 150 dollars.

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Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
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1.6 marks = $1 Multiply by 300 on both the sides => (300)(1.6) marks =$(300)(1)
=> 480 marks = $300 5.3 francs =$1

Multiply by 450 on both the sides
=> (450)(5.3) francs = $(450)(1) => 2385 francs =$450

Profit = $450 -$300 = $150 Retired Moderator Joined: 25 Mar 2014 Status:Studying for the GMAT Posts: 219 Own Kudos [?]: 490 [0] Given Kudos: 251 Location: Brazil Concentration: Technology, General Management GMAT 1: 700 Q47 V40 GMAT 2: 740 Q49 V41 (Online) WE:Business Development (Venture Capital) Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink] 400/16? Ok, easy! 300 But 2385/5.3? Ive used 2385/5=479 479-300=179 X<179 D GMAT Club Legend Joined: 03 Oct 2013 Affiliations: CrackVerbal Posts: 4915 Own Kudos [?]: 7817 [0] Given Kudos: 221 Location: India Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink] Top Contributor SOLUTION: A NEW OG 2021 QUESTION The price of buying (C.P) in dollars = 480 / 1.6 =300$
(As $1 = 1.6 marks) The price of selling the table (S.P) in dollars = 2385 / 5.3 =450$
(As $1 = 5.3 francs) Hence Profit of the dealer = SP-CP = 450-300 = 150$ (OPTION D)

Hope this helps
Devmitra Sen(Math)
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Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
gmatt1476 wrote:
Exchange Rates in a Particular Year
$1 = 5.3 francs$1 = 1.6 marks

An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in dollars?

(A) $0 (B)$50
(C) $100 (D)$150
(E) $200 PS39811.02 Solve the Official Questions more productively Click here and solve 1000+ Official Questions with Video solutions as Timed Sectional Tests and Dedicated Data Sufficiency (DS) Course Answer: Option D Video solution by GMATinsight Get TOPICWISE: Concept Videos | Practice Qns 100+ | Official Qns 50+ | 100% Video solution CLICK. Two MUST join YouTube channels : GMATinsight (1000+ FREE Videos) and GMATclub Manager Joined: 09 Aug 2022 Posts: 85 Own Kudos [?]: 23 [0] Given Kudos: 48 Location: India Concentration: General Management, Leadership GPA: 4 WE:Design (Real Estate) Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink] He bought a table for 480/1.6=$300

He sold it for 2385/5.3=$450 --> Gross Profit: 450−300=$150
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Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
gmatt1476 wrote:
Exchange Rates in a Particular Year
$1 = 5.3 francs$1 = 1.6 marks

An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in dollars?

(A) $0 (B)$50
(C) $100 (D)$150
(E) $200 PS39811.02 CP = 480/1.6 = 300.00 ; SP = 2385/5.3 => 450.00 Profit = SP - CP => 450 - 300 = 150, Answer will be (D) Intern Joined: 29 Nov 2023 Posts: 6 Own Kudos [?]: 1 [0] Given Kudos: 38 Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink] gmatt1476 wrote: Exchange Rates in a Particular Year$1 = 5.3 francs
$1 = 1.6 marks An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in dollars? (A)$0
(B) $50 (C)$100
(D) $150 (E)$200

PS39811.02

­This might be an odd way of solving it but --> (2385*10)/53 - (480*10)/16
Here 480 is completely divisible by 16, but 53 is a prime number and the answers aren't in fractions so 2385 must be divisible by 53.
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Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
How are people calculating that 2385/5.3 = 450 without doing long division? I understand that since 48/16=3, you can easily reach that 480/1.6= 300, but how are people solving 2385/53? No one above has explained how they did it, so am curious to what methods people used (if any).
Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
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