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# If the marked price of a bike was \$6,250, what was the cost of the bik

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Math Expert
Joined: 02 Sep 2009
Posts: 53066
If the marked price of a bike was \$6,250, what was the cost of the bik  [#permalink]

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16 Oct 2018, 01:20
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Difficulty:

15% (low)

Question Stats:

96% (00:46) correct 4% (00:49) wrong based on 30 sessions

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If the marked price of a bike was \$6,250, what was the cost of the bike to the trader?

(1) The cost price, when raised by 25 percent was equal to the marked price.
(2) The bike was sold for \$5,500, which was 10 percent more than the cost to the trader.

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Joined: 18 Jul 2018
Posts: 680
Location: India
Concentration: Finance, Marketing
WE: Engineering (Energy and Utilities)
Re: If the marked price of a bike was \$6,250, what was the cost of the bik  [#permalink]

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16 Oct 2018, 02:28
From statement 1:

Let the cost price be x. When X is increased by 25%, it'll be equal to 6250. x = 6250/1.25 = 5000.
Sufficient.

From statement 2:

Selling price = 5500. = 1.1x
So cost price = 5500/1.1 = 5000.
Sufficient.

D is the answer.
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Director
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WE: Engineering (Real Estate)
Re: If the marked price of a bike was \$6,250, what was the cost of the bik  [#permalink]

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16 Oct 2018, 02:44
Bunuel wrote:
If the marked price of a bike was \$6,250, what was the cost of the bike to the trader?

(1) The cost price, when raised by 25 percent was equal to the marked price.
(2) The bike was sold for \$5,500, which was 10 percent more than the cost to the trader.

Find cost to trader.

Cost to trader * 1.25 = marked price.

Cost to trader * 1.25 = 6,250

We can find the cost sufficient.

Cost to trader * 1.10 = selling price

Cost to trader * 1.1 = 5,500

We can find the cost sufficient.

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Re: If the marked price of a bike was \$6,250, what was the cost of the bik   [#permalink] 16 Oct 2018, 02:44
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# If the marked price of a bike was \$6,250, what was the cost of the bik

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