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

It is currently 23 Sep 2018, 15:34

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

Evans sold apples at 125% of the cost price.What is the profit percent

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

Hide Tags

Manager
Manager
User avatar
G
Joined: 17 Oct 2016
Posts: 94
Location: India
Concentration: General Management, Healthcare
GMAT 1: 640 Q40 V38
GMAT 2: 680 Q48 V35
GPA: 3.05
WE: Pharmaceuticals (Health Care)
Premium Member Reviews Badge CAT Tests
Evans sold apples at 125% of the cost price.What is the profit percent  [#permalink]

Show Tags

New post 01 Sep 2017, 20:49
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

92% (00:32) correct 8% (01:38) wrong based on 25 sessions

HideShow timer Statistics

Evans sold apples at 125% of the cost price.What is the profit percent made by selling 100 apples?

A. 0%

B. 20%

C. 25%

D. 33.33%

E. 50 %

_________________

Sometimes you have to burn yourself to the ground before you can rise like a phoenix from the ashes.

Dr. Pratik



BSchool Forum Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3138
Location: India
GPA: 3.12
Premium Member CAT Tests
Re: Evans sold apples at 125% of the cost price.What is the profit percent  [#permalink]

Show Tags

New post 01 Sep 2017, 22:49
The best method is to assume that the cost price of the apples was 4$.
Since Evans sold the apples at 125%, he sold the apples at a price of \(\frac{125}{100}*4 = 5$\)

When Evans sells 100 apples, he makes a gross profit of 100$[SP(500$) - CP(400$)]

Profit percentage is \(\frac{100}{400} * 100 = 25\)%(Option C)
_________________

You've got what it takes, but it will take everything you've got

Intern
Intern
avatar
B
Joined: 08 Aug 2017
Posts: 20
Location: United States (CA)
Schools: IIMA
GMAT 1: 640 Q49 V28
GMAT 2: 690 Q48 V37
GPA: 4
Re: Evans sold apples at 125% of the cost price.What is the profit percent  [#permalink]

Show Tags

New post 01 Sep 2017, 23:04
Isn't this just 125 minus 100, 25%? Why all the calculation @pushpitkc

Sent from my ZTE A2017U using GMAT Club Forum mobile app
Manager
Manager
avatar
B
Joined: 22 May 2017
Posts: 117
Evans sold apples at 125% of the cost price.What is the profit percent  [#permalink]

Show Tags

New post 01 Sep 2017, 23:28
This does not require calculation. From stmnt we can know ans is 25%

To break it down
Given
SP = 125/100 CP
SP = CP + 25/100 CP
SP = CP + Profit

Profit % is independent of number of articles
Hence profit is 25%

Alternatively
Consider CP = 100
Therefore SP =125/100 *100 =125
Profit % = (125-100)/100 = 25

Posted from my mobile device
_________________

Kudos please if explanation helped
-------------------------------------------------------------------------------------------------
Don't stop when you are tired , stop when you are DONE .

BSchool Forum Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3138
Location: India
GPA: 3.12
Premium Member CAT Tests
Evans sold apples at 125% of the cost price.What is the profit percent  [#permalink]

Show Tags

New post 01 Sep 2017, 23:46
1
vvijay26 wrote:
Isn't this just 125 minus 100, 25%? Why all the calculation pushpitkc

Sent from my ZTE A2017U using GMAT Club Forum mobile app


I apologize for the lengthy calculations vvijay26 :-)
_________________

You've got what it takes, but it will take everything you've got

GMAT Club Bot
Evans sold apples at 125% of the cost price.What is the profit percent &nbs [#permalink] 01 Sep 2017, 23:46
Display posts from previous: Sort by

Evans sold apples at 125% of the cost price.What is the profit percent

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

Events & Promotions

PREV
NEXT


Copyright

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®.