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If John purchased goods for $1050

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Senior Manager
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Joined: 13 Jan 2018
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Location: India
Concentration: Operations, General Management
GMAT 1: 580 Q47 V23
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If John purchased goods for $1050  [#permalink]

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New post 26 Oct 2018, 20:14
6
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A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

75% (03:14) correct 25% (02:59) wrong based on 34 sessions

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If John purchased goods for $1050, and sold \(\frac{1}{3}\)rd of these goods at a loss of 12%, then at what gain percent should remainder goods be sold to gain 18% on the whole transaction?

A. 31%
B. 33%
C. 43%
D. 67%
E. 77%

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If John purchased goods for $1050  [#permalink]

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New post 27 Oct 2018, 00:42
2
Using alligation ,
\(\frac{x-18}{18-(-12)} = \frac{1}{2}\)
2x - 36 = 30
x = 33

Can be done with weighted average formula as well

or the classic

\(350 * \frac{88}{100} + 700 \frac{(100+k)}{100} = 1050 * \frac{118}{100}\)
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Re: If John purchased goods for $1050  [#permalink]

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New post 27 Oct 2018, 03:14
1
eswarchethu135 wrote:
If John purchased goods for $1050, and sold \(\frac{1}{3}\)rd of these goods at a loss of 12%, then at what gain percent should remainder goods be sold to gain 18% on the whole transaction?

A. 31%
B. 33%
C. 43%
D. 67%
E. 77%



Given: John sells 1/3rd of the overall stock at a loss of 12%

We are asked to find at which gain must he sell the remaining 2/3rd of the stock

Let's call that margin - x%. Since the ratio at which the stock is sold is 1:2,
we can deduce the following equatation -> \(1*0.88 + 2*x = 3*1.18\)

Simplifying that further, we get \(2x = 3.54 - 0.88 = 2.66\) -> \(x = \frac{2.66}{2} = 1.33\)

Therefore, the remaining goods are sold at 33%(Option B) more to realize the 18% overall profit margin.
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Re: If John purchased goods for $1050   [#permalink] 27 Oct 2018, 03:14
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