GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 18 Aug 2018, 07:51

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

By selling 32 orange in a dollar, a man loses 40%. How many orange

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Manager
Manager
User avatar
Joined: 04 Aug 2013
Posts: 100
Location: India
Schools: McCombs '17
GMAT 1: 670 Q47 V35
GPA: 3
WE: Manufacturing and Production (Pharmaceuticals and Biotech)
CAT Tests
By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post Updated on: 09 Jul 2016, 23:19
10
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

65% (02:07) correct 35% (02:02) wrong based on 169 sessions

HideShow timer Statistics

By selling 32 orange in a dollar, a man loses 40%. How many orange must he sell in a dollar to gain 20% profit?

A. 16
B. 18
C. 20
D. 25
E. 28

Originally posted by anceer on 17 May 2015, 18:57.
Last edited by Bunuel on 09 Jul 2016, 23:19, edited 1 time in total.
Renamed the topic and edited the question.
Most Helpful Expert Reply
e-GMAT Representative
User avatar
P
Joined: 04 Jan 2015
Posts: 1897
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 18 May 2015, 05:28
4
6
Hi anceer,

You can use the relation between Cost Price & Selling Price to get to your answer.

Given
We are given that a person sells 32 oranges for a dollar to make a loss of 40%. We are asked to find the number of oranges he must sell in a dollar to make a profit of 20%

Approach
We know that Selling Price = Cost Price *( 1 - Loss%) and Selling Price = Cost Price ( 1 + Profit%) Since we know the selling price and the loss%, we can find out the cost price.

Once we know the cost price and we know that the person needs to make a profit of 20%, we can find the selling price which would give us the number of oranges he needs to sell to make 20% profit.

Working Out
The person sells 32 oranges in 1 dollar. So, his SP for 1 orange = \(\frac{1}{32}\). Since he has made a loss of 40%, we can write

SP = CP *(1 - 0.4) i.e. CP for one orange = \(\frac{1}{32* 0.6}\)

For the person to make 20% profit, he would need to have his SP = CP (1 + 0.2) = 1.2*CP. Since we know the CP of 1 orange, we can write

SP for one orange to make a profit of 20% = \(1.2 * \frac{1}{32*0.6}\) = \(\frac{1}{16}\) i.e. selling price of 1 orange to make a profit of 20% is \(\frac{1}{16}\) dollars. So he needs to sell 16 oranges for a dollar to make a profit of 20%.

In such questions avoid calculating numbers at each point as the numbers taken together will cancel out to give the final answer.

Hope this helps :)

Regards
Harsh
_________________








Register for free sessions
Number Properties | Algebra |Quant Workshop

Success Stories
Guillermo's Success Story | Carrie's Success Story

Ace GMAT quant
Articles and Question to reach Q51 | Question of the week

Must Read Articles
Number Properties – Even Odd | LCM GCD
Word Problems – Percentage 1 | Percentage 2 | Time and Work 1 | Time and Work 2 | Time, Speed and Distance 1 | Time, Speed and Distance 2
Advanced Topics- Permutation and Combination 1 | Permutation and Combination 2 | Permutation and Combination 3 | Probability
Geometry- Triangles 1 | Triangles 2 | Triangles 3 | Common Mistakes in Geometry
Algebra- Wavy line

Practice Questions
Number Properties 1 | Number Properties 2 | Algebra 1 | Geometry | Prime Numbers | Absolute value equations | Sets



| '4 out of Top 5' Instructors on gmatclub | 70 point improvement guarantee | www.e-gmat.com

General Discussion
Veritas Prep GMAT Instructor
User avatar
Joined: 23 Oct 2013
Posts: 144
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 17 May 2015, 19:18
4
3
This is a question that is much easier than it first appears. If you work with the percents directly, you can solve it very quickly. If the man sells 32 oranges for a dollar, he loses 40%. That means he is at 60% of his cost (100% - 40% = 60%). We are trying to figure out how many oranges he has to sell in order to make a 20% profit, or be at 120% (100% + 20% = 120%). 120% is double 60%, meaning that we simply cut the number of oranges in half to double our returns (from 60% to 120%), yielding 32/2 = 16 oranges, or answer choice A.

I hope this helps!
_________________

Brandon
Veritas Prep | GMAT Instructor

If you found this post helpful, please give me kudos!!! :)

Save $100 on Veritas Prep GMAT Courses And Admissions Consulting
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options.

Veritas Prep Reviews

Manager
Manager
User avatar
Joined: 04 Aug 2013
Posts: 100
Location: India
Schools: McCombs '17
GMAT 1: 670 Q47 V35
GPA: 3
WE: Manufacturing and Production (Pharmaceuticals and Biotech)
CAT Tests
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 17 May 2015, 21:11
Thanks Brandon. It really helps
but what if it ask for any other numbers such as 22% profit or any number else.
Manager
Manager
User avatar
Joined: 28 Dec 2012
Posts: 109
Location: India
Concentration: Strategy, Finance
WE: Engineering (Energy and Utilities)
GMAT ToolKit User
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 18 May 2015, 10:39
1
1
anceer wrote:
By selling 32 orange in a dollar, a man loses 40%. How many orange must he sell in a dollar to gain 20% profit?

A.16
B.18
C.20
D.25
E.28


Solution: simply use new quantity = 32* (100-60)/(100+20) = 16

I have the same logic as that of Brandon. Very elegantly solved by him!
_________________

Impossibility is a relative concept!!

Veritas Prep GMAT Instructor
User avatar
Joined: 23 Oct 2013
Posts: 144
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 18 May 2015, 17:51
sagarsir wrote:
anceer wrote:
By selling 32 orange in a dollar, a man loses 40%. How many orange must he sell in a dollar to gain 20% profit?

A.16
B.18
C.20
D.25
E.28


Solution: simply use new quantity = 32* (100-60)/(100+20) = 16

I have the same logic as that of Brandon. Very elegantly solved by him!


I like Sagarsir's approach. Harsh' approach also works, but he accidentally made a mistake in his math. His formula works, but CP for one orange is 1/32 divided by .6 (not multiplied by .6). 1.2*1/32 divided by .6 will get to 1/16, as he says. But Like Sagarsir states, there are easier ways to solve this problem!
_________________

Brandon
Veritas Prep | GMAT Instructor

If you found this post helpful, please give me kudos!!! :)

Save $100 on Veritas Prep GMAT Courses And Admissions Consulting
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options.

Veritas Prep Reviews

e-GMAT Representative
User avatar
P
Joined: 04 Jan 2015
Posts: 1897
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 18 May 2015, 23:15
VeritasPrepBrandon wrote:
sagarsir wrote:
anceer wrote:
By selling 32 orange in a dollar, a man loses 40%. How many orange must he sell in a dollar to gain 20% profit?

A.16
B.18
C.20
D.25
E.28


Solution: simply use new quantity = 32* (100-60)/(100+20) = 16

I have the same logic as that of Brandon. Very elegantly solved by him!


I like Sagarsir's approach. Harsh' approach also works, but he accidentally made a mistake in his math. His formula works, but CP for one orange is 1/32 divided by .6 (not multiplied by .6). 1.2*1/32 divided by .6 will get to 1/16, as he says. But Like Sagarsir states, there are easier ways to solve this problem!


Hi Brandon,

We are both saying the same thing :) . You are right to say that CP for one orange = \(\frac{SP}{0.6}\). Since SP for one orange = \(\frac{1}{32}\) that would give us CP = \(= \frac{1}{32} * \frac{1}{0.6}\) which is what I have mentioned in my solution :-D

Regards
Harsh
_________________








Register for free sessions
Number Properties | Algebra |Quant Workshop

Success Stories
Guillermo's Success Story | Carrie's Success Story

Ace GMAT quant
Articles and Question to reach Q51 | Question of the week

Must Read Articles
Number Properties – Even Odd | LCM GCD
Word Problems – Percentage 1 | Percentage 2 | Time and Work 1 | Time and Work 2 | Time, Speed and Distance 1 | Time, Speed and Distance 2
Advanced Topics- Permutation and Combination 1 | Permutation and Combination 2 | Permutation and Combination 3 | Probability
Geometry- Triangles 1 | Triangles 2 | Triangles 3 | Common Mistakes in Geometry
Algebra- Wavy line

Practice Questions
Number Properties 1 | Number Properties 2 | Algebra 1 | Geometry | Prime Numbers | Absolute value equations | Sets



| '4 out of Top 5' Instructors on gmatclub | 70 point improvement guarantee | www.e-gmat.com

Intern
Intern
avatar
Joined: 30 Sep 2013
Posts: 21
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 20 Jul 2015, 09:48
Please let me know my approach is correct or wrong.

For 1 dollar i.e 100 cents , we are selling 32 oranges and getting a loss of 40%.
So in order to get no loss or no profit, I need to sell 32 oranges at 140 cents.
That means cost price of 32 oranges is 140 cents.

Now going by options, for example cost of price of 16 oranges is 70 cents, if I sell 16 oranges at 100 cents, I am likely to get 30% profit. That means if I sell 16 oranges, I mostly likes to get more than 20% profit. Likewise , I get the following profit percentages
for the following options
A) 16 oranges ~30% profit
B) 18 oranges ~22% profit
C) 20 oranges ~12% profit
D) 25 oranges ~9% loss
E) 28 oranges ~22% loss

This shows that option A i.e 16 orangs is sufficient to give us 20% profit.
Director
Director
User avatar
G
Joined: 23 Jan 2013
Posts: 598
Schools: Cambridge'16
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 06 Nov 2015, 22:37
x - expenses

0.6x after selling 32 oranges per 1$
want to get 1.2x

1.2x/0.6x=2, so should be 32/2=16 oranges

A
Intern
Intern
avatar
B
Joined: 04 Apr 2016
Posts: 1
Premium Member
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 09 Jul 2016, 13:22
1
Another simple solution can be :

By selling 32 Oranges in a dollar, a man loses 40% ---> Means it earns only only 60%
So, let say it earns $ 60 out of $ 100 ---> 40% loss

Total oranges sold = (60 x 32)
The same oranges has to be sold to make a 20% profit i.e to make $ 120

So, oranges per dollar for 20% profit or to make $ 120 = (60 x 32) / 120 = 16
VP
VP
avatar
P
Joined: 07 Dec 2014
Posts: 1068
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 10 Jul 2016, 11:26
let c=cost of oranges per dollar
p=selling price of oranges per dollar
x=# of oranges he needs to sell per dollar to make 20% profit
p/32=.6c
p/x=1.2c
.6c*32=1.2c*x
x=16
Intern
Intern
User avatar
B
Status: Current Student
Joined: 27 Mar 2014
Posts: 28
Location: Bangladesh
Concentration: Entrepreneurship, Finance
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 24 Feb 2018, 07:17
** The wording is somewhat ambiguous. If it were written as "32 oranges for a dollar", then the math would be easier.

$1 is actually 60% or \(\frac{3}{5}\) of total cost.
to calculate total cost, t: \(\frac{3}{5}*t=1 => t=\frac{5}{3}\) { which is the actual cost}
With 20% profit, selling price should be 120% or \(\frac{6}{5}\) of \(\frac{5}{3}\). that is: selling price= \(\frac{5}{3}*\frac{6}{5} = 2\)
Then $2 dollar must be earned from 32 oranges. So, We need to sell 16 oranges for a dollar.
Intern
Intern
avatar
Joined: 18 Jun 2017
Posts: 6
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange  [#permalink]

Show Tags

New post 24 Feb 2018, 07:31
$1 --> 32 oranges ---> Loss of 40 percent
Price per orange ---> $ 1/32 ---> Loss of 40 percent per orange
Let x be the cost price per orange
x - (40/100)x = 1/32
x= 5/(3*32)
Now, he has to make a profit of 20 %

New selling price per orange = x + (20/100)x = 6/5x
Substitute x;

Selling price per orange = $ 2/32 = $ 1/16

So, in $1 he can sell 16 oranges which is the answer.
Re: By selling 32 orange in a dollar, a man loses 40%. How many orange &nbs [#permalink] 24 Feb 2018, 07:31
Display posts from previous: Sort by

By selling 32 orange in a dollar, a man loses 40%. How many orange

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Events & Promotions

PREV
NEXT


cron

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.