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

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Math Expert
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V
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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New post 27 Feb 2018, 23:46
00:00
A
B
C
D
E

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
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B
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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New post 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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Re: At a selling price of $273, a refrigerator yields a 30% profit on the  [#permalink]

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New post 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.

Answer: B
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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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At a selling price of $273, a refrigerator yields a 30% profit on the

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