Last visit was: 24 Jul 2024, 10:58 It is currently 24 Jul 2024, 10:58
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.
Close
Request Expert Reply
Confirm Cancel
SORT BY:
Date
Tags:
Show Tags
Hide Tags
Senior Manager
Senior Manager
Joined: 04 Sep 2017
Posts: 325
Own Kudos [?]: 20699 [27]
Given Kudos: 61
Send PM
Director
Director
Joined: 25 Jul 2018
Posts: 663
Own Kudos [?]: 1150 [4]
Given Kudos: 69
Send PM
Current Student
Joined: 10 Jun 2018
Posts: 48
Own Kudos [?]: 87 [0]
Given Kudos: 36
Location: India
GMAT 1: 690 Q49 V34
Send PM
Manager
Manager
Joined: 21 Jan 2020
Posts: 51
Own Kudos [?]: 111 [0]
Given Kudos: 167
Location: India
GMAT 1: 600 Q47 V25
GPA: 4
Send PM
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)
Send PM
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.

Answer: D
Intern
Intern
Joined: 30 May 2020
Posts: 18
Own Kudos [?]: 16 [1]
Given Kudos: 1
Send PM
Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
1
Kudos
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)
Send PM
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
GMAT Club Legend
Joined: 03 Oct 2013
Affiliations: CrackVerbal
Posts: 4915
Own Kudos [?]: 7817 [0]
Given Kudos: 221
Location: India
Send PM
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 :thumbsup:
Devmitra Sen(Math)
GMAT Club Legend
GMAT Club Legend
Joined: 08 Jul 2010
Status:GMAT/GRE Tutor l Admission Consultant l On-Demand Course creator
Posts: 6031
Own Kudos [?]: 13825 [0]
Given Kudos: 125
Location: India
GMAT: QUANT+DI EXPERT
Schools: IIM (A) ISB '24
GMAT 1: 750 Q51 V41
WE:Education (Education)
Send PM
Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
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



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
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)
Send PM
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
Board of Directors
Joined: 11 Jun 2011
Status:QA & VA Forum Moderator
Posts: 6047
Own Kudos [?]: 4768 [0]
Given Kudos: 463
Location: India
GPA: 3.5
WE:Business Development (Commercial Banking)
Send PM
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
Intern
Joined: 29 Nov 2023
Posts: 6
Own Kudos [?]: 1 [0]
Given Kudos: 38
Send PM
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.
User avatar
Intern
Intern
Joined: 25 Mar 2024
Posts: 4
Own Kudos [?]: 13 [0]
Given Kudos: 8
Location: United States
Send PM
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).
GMAT Club Bot
Re: An American dealer bought a table in Germany for 480 marks and sold th [#permalink]
Moderator:
Math Expert
94606 posts