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An item, when sold at a certain price, yields r% profit. Had it been s
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01 Mar 2019, 10:36
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64% (02:31) correct 36% (02:26) wrong based on 107 sessions
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An item, when sold at a certain price, yields r% profit. Had it been sold for $s more, the profit percentage would have been t%. What is its cost price? A. 100r/(ts) B. 100s/(tr) C. s/100(tr) D. st/100(tr) E. (tr)/100s
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Re: An item, when sold at a certain price, yields r% profit. Had it been s
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01 Mar 2019, 20:58
Let the profit be p . The CP be denoted by c From the first case using Profit % formula. r=(p*100)/c 1 After S.P is increased by s$ t=((p+ s)*100)/c2 Therefore from 1 and 2 r/t=p/(p+s) pr+sr=pt p(tr)=sr Put value of r from e.q1 p(tr)=s(p*100)/c Both P got cancelled (tr)=100s/c c=100s/(tr) IMO B.
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Re: An item, when sold at a certain price, yields r% profit. Had it been s
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01 Mar 2019, 20:59
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)/c2 Therefore from 1 and 2 r/t=p/(p+s) pr+sr=pt p(tr)=sr Put value of r from e.q1 p(tr)=s(p*100)/c Both P got cancelled (tr)=100s/c c=100s/(tr) IMO B.
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Re: An item, when sold at a certain price, yields r% profit. Had it been s
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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)/c2
Therefore from 1 and 2
r/t=p/(p+s)
pr+sr=pt
p(tr)=sr
Put value of r from e.q1
p(tr)=s(p*100)/c
Both P got cancelled
(tr)=100s/c
c=100s/(tr)
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?



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Re: An item, when sold at a certain price, yields r% profit. Had it been s
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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)/c2
Therefore from 1 and 2
r/t=p/(p+s)
pr+sr=pt
p(tr)=sr
Put value of r from e.q1
p(tr)=s(p*100)/c
Both P got cancelled
(tr)=100s/c
c=100s/(tr)
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
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Manager
Joined: 03 Sep 2018
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An item, when sold at a certain price, yields r% profit. Had it been s
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23 Aug 2019, 01:20
Above solutions are unnecessarily difficult
P=RC
r(C)/100=RC –> R=C(r/100+1)
t(C)/100=R+sC –> t(C)/100=C(r/100+1)+sC –> t(C)/100=r(C)/100+s –> C=S/((tr)/100)=100(S)/(tr)



Intern
Joined: 23 Jun 2019
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Location: United States
Concentration: Economics, Statistics

Re: An item, when sold at a certain price, yields r% profit. Had it been s
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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/(ts) =100*50/90 [does not work] B. 100s/(tr) =100*10/50 =20 [works!] C. s/100(tr) = 10/100*50 [does not work] D. st/100(tr) =10*100/100*50 [does not wok] E. (tr)/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!




Re: An item, when sold at a certain price, yields r% profit. Had it been s
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26 Aug 2019, 00:33






