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# If a dealer had sold a stereo for \$600, he would have made a 20 percen

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Senior RC Moderator
Joined: 02 Nov 2016
Posts: 3449
GPA: 3.39
If a dealer had sold a stereo for \$600, he would have made a 20 percen  [#permalink]

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05 Jan 2019, 10:42
1
3
00:00

Difficulty:

15% (low)

Question Stats:

89% (01:28) correct 11% (01:35) wrong based on 49 sessions

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If a dealer had sold a stereo for \$600, he would have made a 20 percent profit. Instead, the dealer sold it for a 40 percent loss. At what price (\$) was the stereo sold?

A. 300
B. 315
C. 372
D. 400
E. 440

Source: Kaplan GMAT Math Workbook - Sixth Edition
Page# 302

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Joined: 01 May 2017
Posts: 82
Location: India
Re: If a dealer had sold a stereo for \$600, he would have made a 20 percen  [#permalink]

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05 Jan 2019, 18:41
1
If a dealer had sold a stereo for \$600, he would have made a 20 percent profit. Instead, the dealer sold it for a 40 percent loss. At what price (\$) was the stereo sold?

Selling Price = \$600
Cost price = (100/(Profit % + 100))*Selling price
CP = (100/120)*600
CP = 500\$

Sold it at 40% loss
SP = ((100-loss%)/100)*CP
SP = (60/100)*500\$
SP = 300\$

Option A is correct
Re: If a dealer had sold a stereo for \$600, he would have made a 20 percen   [#permalink] 05 Jan 2019, 18:41
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