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06 Dec 2021, 04:30
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
85%
(hard)
Question Stats:
65% (03:17) correct
35%
(03:22)
wrong
based on 62
sessions
History
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Not Attempted Yet
Anna bought Item X from a manufacturer at a cost price of $CX and she wanted to sell the item for $SX. However, she decided instead to offer a discount of 25% on $SX, and after selling Item X at the discounted price she earned a profit of 20%. Later, Anna bought Item Y at a cost price that is 20% greater than $CX and she wanted to sell Item Y for $SY. If she instead offered a discount of 16.67% on $SY and sold Item Y at the discounted price for a profit of 33.33%, then which of the following is closest to the percentage by which $SY is greater than $SX?
(A) 10%
(B) 20%
(C) 25%
(D) 30%
(E) 40%
(A) 10%
(B) 20%
(C) 25%
(D) 30%
(E) 40%
Given: Anna bought Item X from a manufacturer at a cost price of $CX and she wanted to sell the item for $SX. However, she decided instead to offer a discount of 25% on $SX, and after selling Item X at the discounted price she earned a profit of 20%. Later, Anna bought Item Y at a cost price that is 20% greater than $CX and she wanted to sell Item Y for $SY.
Asked: If she instead offered a discount of 16.67% on $SY and sold Item Y at the discounted price for a profit of 33.33%, then which of the following is closest to the percentage by which $SY is greater than $SX?
Cost price of item X = $CX
Selling price of item X = $SX
Selling price after 25% discount = .75 $SX
After selling Item X at the discounted price she earned a profit of 20%.
.75$SX = 1.2*$CX
$SX = 1.6$CX
Later, Anna bought Item Y at a cost price that is 20% greater than $CX and she wanted to sell Item Y for $SY.
New cost price = 1.2 $CX
New Selling price = $SY
She instead offered a discount of 16.67% on $SY and sold Item Y at the discounted price for a profit of 33.33%.
Selling price after 16.67% discount = 5/6 $SY
4/3 * 6/5 $CX = 5/6 $SY
$SY = 1.92 $CX = 1.2 (1.6$CX) = 1.2 $SX
$SY is 20% greater than $SX
IMO B
Asked: If she instead offered a discount of 16.67% on $SY and sold Item Y at the discounted price for a profit of 33.33%, then which of the following is closest to the percentage by which $SY is greater than $SX?
Cost price of item X = $CX
Selling price of item X = $SX
Selling price after 25% discount = .75 $SX
After selling Item X at the discounted price she earned a profit of 20%.
.75$SX = 1.2*$CX
$SX = 1.6$CX
Later, Anna bought Item Y at a cost price that is 20% greater than $CX and she wanted to sell Item Y for $SY.
New cost price = 1.2 $CX
New Selling price = $SY
She instead offered a discount of 16.67% on $SY and sold Item Y at the discounted price for a profit of 33.33%.
Selling price after 16.67% discount = 5/6 $SY
4/3 * 6/5 $CX = 5/6 $SY
$SY = 1.92 $CX = 1.2 (1.6$CX) = 1.2 $SX
$SY is 20% greater than $SX
IMO B
06 Dec 2021, 22:07
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shubhokarr
We know the relation between market price (SX & SY here), discount and profit as:
(1 + m/100)(1 - d/100) = (1 + p/100)
For item X
(1 + m/100)(1 - 1/4) = (1 + 1/5)
(1 + m/100) = 8/5
This means SX = 8/5 *CX
For item Y
(1 + m/100)(1 - 1/6) = (1 + 1/3)
(1 + m/100) = 8/5
So SY = (8/5)*CY = (8/5)*(6/5)*CX
So SY = (6/5)*SX i.e. SY is 20% more than SX.
Answer (B)
Check: https://www.gmatclub.com/forum/veritas-prep-resource-links-no-longer-available-399979.html#/2011/0 ... nt-profit/
