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# At a selling price of \$273, a refrigerator yields a 30% profit on the

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Math Expert
Joined: 02 Sep 2009
Posts: 59561
At a selling price of \$273, a refrigerator yields a 30% profit on the  [#permalink]

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27 Feb 2018, 23:46
00:00

Difficulty:

5% (low)

Question Stats:

86% (01:32) correct 14% (01:43) wrong based on 34 sessions

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At a selling price of \$273, a refrigerator yields a 30% profit on the cost. What selling price will yield a 10% profit on the cost?

(A) \$210

(B) \$231

(C) \$221

(D) \$235

(E) \$240
Intern
Joined: 23 May 2015
Posts: 24
Re: At a selling price of \$273, a refrigerator yields a 30% profit on the  [#permalink]

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27 Feb 2018, 23:53
Let the Cost price be C
So ,
1.3C = 273 ( given ,SP=273 & Profit= 30%)
C=\$ 210

Next
SP(new) = C*1.1( profit 10%)
= 210*1.1
= \$231

Ans B

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e-GMAT Representative
Joined: 04 Jan 2015
Posts: 3158
Re: At a selling price of \$273, a refrigerator yields a 30% profit on the  [#permalink]

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28 Feb 2018, 11:32

Solution

We know,

• Selling price= Cost price + profit
• \$273 = Cost price+ 30% of cost price
• \$ 273= 1.3* cost price
• Cost price= \$210.

Thus, the cost price of refrigerator is \$210.

Now, we need to find the selling price when the same refrigerator is sold at 10% profit on cost.

Thus,
• Selling price= Cost price + profit
• Selling price= \$210+ 10% of \$210
• Selling price= \$210*1.1
• Selling price= \$231

Thus, the selling price after selling the refrigerator at 10% profit is \$231.

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Re: At a selling price of \$273, a refrigerator yields a 30% profit on the   [#permalink] 28 Feb 2018, 11:32
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