GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 17 Oct 2019, 16:56

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

An item, when sold at a certain price, yields r% profit. Had it been s

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Director
Director
avatar
V
Joined: 18 Feb 2019
Posts: 581
Location: India
GMAT 1: 460 Q42 V13
GPA: 3.6
An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 01 Mar 2019, 10:36
11
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

64% (02:31) correct 36% (02:26) wrong based on 107 sessions

HideShow timer Statistics

An item, when sold at a certain price, yields r% profit. Had it been sold for $s more, the profit percentage would have been t%. What is its cost price?

A. 100r/(t-s)
B. 100s/(t-r)
C. s/100(t-r)
D. st/100(t-r)
E. (t-r)/100s
Senior Manager
Senior Manager
User avatar
P
Joined: 03 Mar 2017
Posts: 367
Reviews Badge CAT Tests
Re: An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 01 Mar 2019, 20:58
1
Let the profit be p .
The CP be denoted by c

From the first case using Profit % formula.

r=(p*100)/c ---1

After S.P is increased by s$

t=((p+s)*100)/c----2

Therefore from 1 and 2

r/t=p/(p+s)

pr+sr=pt

p(t-r)=sr

Put value of r from e.q-1---

p(t-r)=s(p*100)/c

Both P got cancelled

(t-r)=100s/c

c=100s/(t-r)

IMO B.
_________________
--------------------------------------------------------------------------------------------------------------------------
All the Gods, All the Heavens, and All the Hells lie within you.
Senior Manager
Senior Manager
User avatar
P
Joined: 03 Mar 2017
Posts: 367
Reviews Badge CAT Tests
Re: An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 01 Mar 2019, 20:59
1
Quote:
Let the profit be p .
The CP be denoted by c


From the first case using Profit % formula.

Quote:
Profit%=(Profit*100)/C.P


r=(p*100)/c ---1

After S.P is increased by s$

t=((p+s)*100)/c----2

Therefore from 1 and 2

r/t=p/(p+s)

pr+sr=pt

p(t-r)=sr

Put value of r from e.q-1---

p(t-r)=s(p*100)/c

Both P got cancelled

(t-r)=100s/c

c=100s/(t-r)

IMO B.
_________________
--------------------------------------------------------------------------------------------------------------------------
All the Gods, All the Heavens, and All the Hells lie within you.
Intern
Intern
avatar
B
Joined: 18 Jan 2019
Posts: 28
Re: An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 02 Mar 2019, 01:45
warrior1991 wrote:
Let the profit be p .
The CP be denoted by c

From the first case using Profit % formula.

r=(p*100)/c ---1

After S.P is increased by s$

t=((p+s)*100)/c----2

Therefore from 1 and 2

r/t=p/(p+s)

pr+sr=pt

p(t-r)=sr

Put value of r from e.q-1---

p(t-r)=s(p*100)/c

Both P got cancelled

(t-r)=100s/c

c=100s/(t-r)

IMO B.


where did you get pr+sr=pt from? can you please explain this? Also is there any general topic that these equations are derived from?
Senior Manager
Senior Manager
User avatar
P
Joined: 03 Mar 2017
Posts: 367
Reviews Badge CAT Tests
Re: An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 02 Mar 2019, 02:36
Ish1996 wrote:
warrior1991 wrote:
Let the profit be p .
The CP be denoted by c

From the first case using Profit % formula.

r=(p*100)/c ---1

After S.P is increased by s$

t=((p+s)*100)/c----2

Therefore from 1 and 2

r/t=p/(p+s)

pr+sr=pt

p(t-r)=sr

Put value of r from e.q-1---

p(t-r)=s(p*100)/c

Both P got cancelled

(t-r)=100s/c

c=100s/(t-r)

IMO B.


where did you get pr+sr=pt from? can you please explain this? Also is there any general topic that these equations are derived from?


Read the equation just above the equation you talking about


Sent from my iPhone using GMAT Club Forum mobile app
_________________
--------------------------------------------------------------------------------------------------------------------------
All the Gods, All the Heavens, and All the Hells lie within you.
Manager
Manager
User avatar
B
Joined: 03 Sep 2018
Posts: 177
CAT Tests
An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 23 Aug 2019, 01:20
1
1
Above solutions are unnecessarily difficult

P=R-C

r(C)/100=R-C –> R=C(r/100+1)

t(C)/100=R+s-C –> t(C)/100=C(r/100+1)+s-C –> t(C)/100=r(C)/100+s –> C=S/((t-r)/100)=100(S)/(t-r)
Intern
Intern
avatar
B
Joined: 23 Jun 2019
Posts: 2
Location: United States
Concentration: Economics, Statistics
Re: An item, when sold at a certain price, yields r% profit. Had it been s  [#permalink]

Show Tags

New post 26 Aug 2019, 00:33
Essentially we are dealing with three numbers. Suppose we are starting with 20, after r% profit the number becomes 30 and adding 10 the number finally becomes 40. That is 20...30...40
Now r=50 [ increase is 50%]
S= 10
t= 100 [ increase is 100%]
If we substitute these values the correct expression must give the cost, which is 20.
A. 100r/(t-s) =100*50/90 [does not work]
B. 100s/(t-r) =100*10/50 =20 [works!]
C. s/100(t-r) = 10/100*50 [does not work]
D. st/100(t-r) =10*100/100*50 [does not wok]
E. (t-r)/100s = 50/100*10 [Does not work]

Therefore, B is the answer.

Please note that I avoided using 100 as the starting value because often time it cannot eliminate all the incorrect answers. Hope this helps!
GMAT Club Bot
Re: An item, when sold at a certain price, yields r% profit. Had it been s   [#permalink] 26 Aug 2019, 00:33
Display posts from previous: Sort by

An item, when sold at a certain price, yields r% profit. Had it been s

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne