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

It is currently 13 Dec 2018, 07:42

R1 Admission Decisions:

Stanford Chat (Calls Started)  |  Wharton Chat  (Calls Expected Soon)  |  Fuqua Chat (Calls Expected Soon)


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
Events & Promotions in December
PrevNext
SuMoTuWeThFrSa
2526272829301
2345678
9101112131415
16171819202122
23242526272829
303112345
Open Detailed Calendar
  • The winning strategy for 700+ on the GMAT

     December 13, 2018

     December 13, 2018

     08:00 AM PST

     09:00 AM PST

    What people who reach the high 700's do differently? We're going to share insights, tips and strategies from data we collected on over 50,000 students who used examPAL.
  • GMATbuster's Weekly GMAT Quant Quiz, Tomorrow, Saturday at 9 AM PST

     December 14, 2018

     December 14, 2018

     09:00 AM PST

     10:00 AM PST

    10 Questions will be posted on the forum and we will post a reply in this Topic with a link to each question. There are prizes for the winners.

If the cost price of 20 articles is equal to the selling price of 25

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

Hide Tags

Manager
Manager
avatar
Joined: 22 Sep 2010
Posts: 77
If the cost price of 20 articles is equal to the selling price of 25  [#permalink]

Show Tags

New post 19 Oct 2010, 04:33
1
14
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

64% (00:58) correct 36% (00:54) wrong based on 270 sessions

HideShow timer Statistics

If the cost price of 20 articles is equal to the selling price of 25 articles, what is the % profit or loss made by the merchant?

A. 25% loss
B. 25% profit
C. 20% loss
D. 20% profit
E. 5% profit
Intern
Intern
avatar
Joined: 14 Oct 2010
Posts: 4
Re: If the cost price of 20 articles is equal to the selling price of 25  [#permalink]

Show Tags

New post 19 Oct 2010, 05:43
3
Let the cost price of 1 article be $1.
Therefore, cost price of 20 articles = 20 * 1 = $20

The selling price of 25 articles = cost price of 20 articles = $20.

Now, we know the selling price of 25 articles. Let us find the cost price of 25 articles.

Cost price of 25 articles = 25 * 1 = $25.

Therefore, profit made on sale of 25 articles = Selling price of 25 articles - cost price of 25 articles

= 20 - 25 = -$5.

As the profit is in the negative, the merchant has made a loss of $5.

Therefore, % loss = loss/cp * 100
% loss = -5/25 * 100 = 20% loss.
Veritas Prep GMAT Instructor
User avatar
P
Joined: 16 Oct 2010
Posts: 8673
Location: Pune, India
Re: If the cost price of 20 articles is equal to the selling price of 25  [#permalink]

Show Tags

New post Updated on: 19 Oct 2010, 10:30
Let cost price of one article be c and selling price of one article be s.
We need to find profit/loss% which is equal to ((s-c)/c) x 100 = (s/c - 1) x 100

Given that 20c = 25s. Then s/c = 4/5
Profit% = (4/5 - 1) x 100 = -20%

Note: It is preferable to use as few variables as possible but in situations where cp of n articles = sp of m articles, it is better to use different variables for clarity.
_________________

Karishma
Veritas Prep GMAT Instructor

Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options >


Originally posted by VeritasKarishma on 19 Oct 2010, 06:18.
Last edited by VeritasKarishma on 19 Oct 2010, 10:30, edited 1 time in total.
Current Student
User avatar
B
Status: DONE!
Joined: 05 Sep 2016
Posts: 377
Re: If the cost price of 20 articles is equal to the selling price of 25  [#permalink]

Show Tags

New post 18 Oct 2016, 14:14
1
Think of it this way...

we can create the following equation --> 20x = 25y

Plug in random values for x and y, such as x=5 & y=4

Then use percentage change eqn to solve for answer: (4-5)/5 = -20%
Intern
Intern
avatar
B
Joined: 25 Mar 2018
Posts: 13
Location: India
Concentration: Leadership, Strategy
Schools: ISB '20
WE: Analyst (Energy and Utilities)
GMAT ToolKit User Reviews Badge
Re: If the cost price of 20 articles is equal to the selling price of 25  [#permalink]

Show Tags

New post 26 Nov 2018, 02:25
pzazz12 wrote:
If the cost price of 20 articles is equal to the selling price of 25 articles, what is the % profit or loss made by the merchant?

A. 25% loss
B. 25% profit
C. 20% loss
D. 20% profit
E. 5% profit



Lets cost price = C, Selling price = S

4C = 5S, for profit or loss , equation is (C-S)*100/C

ie ., (C-(4C/5))*100/C which gives -20% , which is a 20% loss.
GMAT Club Bot
Re: If the cost price of 20 articles is equal to the selling price of 25 &nbs [#permalink] 26 Nov 2018, 02:25
Display posts from previous: Sort by

If the cost price of 20 articles is equal to the selling price of 25

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


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®.