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• ### $450 Tuition Credit & Official CAT Packs FREE January 15, 2019 January 15, 2019 10:00 PM PST 11:00 PM PST EMPOWERgmat is giving away the complete Official GMAT Exam Pack collection worth$100 with the 3 Month Pack ($299) • ### The winning strategy for a high GRE score January 17, 2019 January 17, 2019 08:00 AM PST 09:00 AM PST Learn the winning strategy for a high GRE score — what do people who reach a high score do differently? We're going to share insights, tips and strategies from data we've collected from over 50,000 students who used examPAL. # From the sale of sleeping bags, a retailer made a gross  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: ### Hide Tags Senior Manager Status: Finally Done. Admitted in Kellogg for 2015 intake Joined: 25 Jun 2011 Posts: 472 Location: United Kingdom Concentration: International Business, Strategy GMAT 1: 730 Q49 V45 GPA: 2.9 WE: Information Technology (Consulting) From the sale of sleeping bags, a retailer made a gross [#permalink] ### Show Tags Updated on: 10 Jun 2013, 03:54 00:00 Difficulty: 15% (low) Question Stats: 82% (01:30) correct 18% (01:48) wrong based on 133 sessions ### HideShow timer Statistics From the sale of sleeping bags, a retailer made a gross profit of 12% of the wholesale cost. If each sleeping bag was sold for$28, what was the wholesale cost per bag?

A. 3.00
B. 3.36
C. 24.64
D. 25.00
E. 31.36

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GMAT ==> 730

Originally posted by enigma123 on 10 Mar 2012, 13:16.
Last edited by Bunuel on 10 Jun 2013, 03:54, edited 2 times in total.
Edited the question and added the OA.
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Posts: 52108

### Show Tags

10 Mar 2012, 13:41
enigma123 wrote:
From the sale of sleeping bags, a retailer made a gross profit of 12% of the wholesale cost. If each sleeping bag was sold for $28, what was the wholesale cost per bag? A) 3 B) 3.36 C) 24.64 D) 25 E) 31.36 I don't have an OA. But anyone know how to solve this? Cost price * 1.12 = Selling price --> Cost price * 1.12 =$28 --> Cost price = $25. Answer: D. Actually even without any math only C and D make any sense, but since 24.64 * 1.12 won't be an integer ($28) then only answer choice D remains.
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Re: From the sale of sleeping bags, a retailer made a gross  [#permalink]

### Show Tags

17 May 2017, 04:42
From the sale of sleeping bags, a retailer made a gross profit of 12% of the wholesale cost. If each sleeping bag was sold for $28, what was the wholesale cost per bag? A. 3.00 B. 3.36 C. 24.64 D. 25.00 E. 31.36 Selling price of sleeping bag =$28
Profit on sleeping bag = 12%
Therefore Selling price = 112% of Cost price = $$\frac{112}{100}$$ x Cost price = 28
Cost Price = $$\frac{28 * 100}{112}$$ = $25 Answer D... _________________ Kindly press "+1 Kudos" to appreciate Target Test Prep Representative Status: Founder & CEO Affiliations: Target Test Prep Joined: 14 Oct 2015 Posts: 4518 Location: United States (CA) Re: From the sale of sleeping bags, a retailer made a gross [#permalink] ### Show Tags 19 May 2017, 05:26 enigma123 wrote: From the sale of sleeping bags, a retailer made a gross profit of 12% of the wholesale cost. If each sleeping bag was sold for$28, what was the wholesale cost per bag?

A. 3.00
B. 3.36
C. 24.64
D. 25.00
E. 31.36

Since the retailer made a profit of 12% of the wholesale cost:

profit = 0.12(cost)

revenue - cost = 0.12(cost)

28 - cost = 0.12(cost)

28 = 1.12c

28/1.12 = c

25 = c = wholesale cost

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Re: From the sale of sleeping bags, a retailer made a gross &nbs [#permalink] 19 May 2017, 05:26
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