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An orange vendor makes a profit of 20% by selling orange at a certain

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Bunuel
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An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   10 Jul 2019, 02:04
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53% (02:09) correct 47% (01:55) wrong based on 119 sessions
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An orange vendor makes a profit of 20% by selling orange at a certain price. If he charges $1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.

(A) 4
(B) 4.8
(C) 5
(D) 6
(E) 7.2
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E
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   10 Jul 2019, 02:28
IMO : E
An orange vendor makes a profit of 20% by selling orange at a certain price. If he charges $1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.

(A) 4
(B) 4.8
(C) 5
(D) 6
(E) 7.2

Sol:

120/100*+1.2=140/100

(12/10)X +12/10=(14/10)x

12X+12=14X

2x=12

x=6, that means the price before profit is 6 and when we add 20% then we see that option A,B,C and D are all lower than (120/100)6,
only option left =7.2. .

to verify

7.2+1.2=8.4 and (8.4/6)*100=140/100= 40% profit.
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   10 Jul 2019, 02:30
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Bunuel wrote:
An orange vendor makes a profit of 20% by selling orange at a certain price. If he charges $1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.

(A) 4
(B) 4.8
(C) 5
(D) 6
(E) 7.2


Let cost price be c and selling price be s
s=1.2c
s+1.2 = 1.4c
1.2c + 1.2 = 1.4c
\(\frac{c}{c+1} = \frac{6}{7}\)
c=6
s=7.2

IMO E
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   10 Jul 2019, 08:06
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Normally the shopkeeper makes a profit of 20%.However if he charges 1.2 higher it results in profit of 40%

This implies $1.2 contributes 20% of profit.

Now its easy.Lets assume cost price is x.

So 20% of x = 1.2

0.20x = 1.2

x= 6

Now target question is to find the original price at which he sold an orange.

SP=CP+Profit = 6+1.2 = 7.2


Hope it helps!!
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   10 Jul 2019, 08:40
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Let the selling price(SP) with 20% profit be 1.2x, where x is Cost Price.

SP with 40% profit = 1.4x

Now,
1.4x - 1.2x = 1.2
.2x = 1.2
x= 6

SP with 20% profit = 1.2*6 = 7.2
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   19 Jul 2019, 12:30
Bunuel wrote:
An orange vendor makes a profit of 20% by selling orange at a certain price. If he charges $1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.

(A) 4
(B) 4.8
(C) 5
(D) 6
(E) 7.2


SP = 1.2*CP
Then according to the condition
1.2*CP + 1.2 = 1.4CP
0.2*CP = 1.2
CP = 6
Actual SP = 6*1.2 = 7.2
E is correct.
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink] New post   07 Aug 2019, 12:43
Bunuel wrote:
An orange vendor makes a profit of 20% by selling orange at a certain price. If he charges $1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.

(A) 4
(B) 4.8
(C) 5
(D) 6
(E) 7.2


given: price=p and cost=c…
before: (p-c/c)=1/5… p=c/5+c
after: (p+1.2-c)/c=2/5… p=2c/5+c-1.2
equate p and find c: c/5+c=2c/5+c-1.2… c/5=1.2… c=6
find p: p=c/5+c… p=6/5+6=7.2

Answer (E).
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Re: An orange vendor makes a profit of 20% by selling orange at a certain [#permalink]
07 Aug 2019, 12:43
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