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If the selling price is doubled 11 Dec 2015, 05:41
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If the selling price is doubled,the profit is trippled,what is the percentage of profit??

A) 50%
B) 100%
C) 150%
D) 200%
E) 250%

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If the selling price is doubled 11 Dec 2015, 05:51
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If the selling price is doubled,the profit is trippled,what is the percentage of profit??

1) 50%
2) 100%
3) 150%
4) 200%
5) 250%
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ans is 100%..
we can make two equations from the given info..
let selling price be S and cost price be C..
so profit=P=S-C...
if S is doubled profit is tripled..
so 3P=2S-C..
or S=2P...
therefore C=P..
% of profit=P/P=100%
B

Pl follow rules for posting the Q and add the OA
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If the selling price is doubled 11 Dec 2015, 06:46
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Let the profit be 10, then

SP-CP=10 and 2SP-CP=30
Solving the above equations we get SP=20 and CP=10, so CP=Profit

Hence the answer is B (100%)
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If the selling price is doubled 11 Dec 2015, 08:18
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% profit = profit / SP and not profit / CP

hence A

How on earth can the profit %age be 100% or more?? Through that logic also one can reject all except A
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If the selling price is doubled 11 Dec 2015, 08:37
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sandeepk123
% profit = profit / SP and not profit / CP

hence A

How on earth can the profit %age be 100% or more?? Through that logic also one can reject all except A
Show more

Hi,
profit is always on the cost price..
and yes profit can be any % even 1000%..
you have purchased a pen for 10 and sold it for 100... the profit will be 90/10*100 or 900%..
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If the selling price is doubled 11 Dec 2015, 08:43
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chetan2u
sandeepk123
% profit = profit / SP and not profit / CP

hence A

How on earth can the profit %age be 100% or more?? Through that logic also one can reject all except A

Hi,
profit is always on the cost price..
and yes profit can be any % even 1000%..
you have purchased a pen for 10 and sold it for 100... the profit will be 90/10*100 or 900%..
Show more

In the given example the profit will be 90% and not 900%.

I'll accept your point, if you could provide link of any company's annual report which shows that??
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If the selling price is doubled 11 Dec 2015, 08:57
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chetan2u
sandeepk123
% profit = profit / SP and not profit / CP

hence A

How on earth can the profit %age be 100% or more?? Through that logic also one can reject all except A

Hi,
profit is always on the cost price..
and yes profit can be any % even 1000%..
you have purchased a pen for 10 and sold it for 100... the profit will be 90/10*100 or 900%..

In the given example the profit will be 90% and not 900%.

I'll accept your point, if you could provide link of any company's annual report which shows that??
Show more

Hi,
you may have to google a bit for profit percentage...
and don't mix gross profit margin % and profit percentage...

However, I was just curious how will you calculate the loss percentage.....
say Ben purchased a pen for 100 and magnanimously sold it for 10 ...
what would be the loss %..
as per the logic conveyed it will be 90/10, which will be 900%...
but with the same logic can it be greater than 100%..
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If the selling price is doubled 11 Dec 2015, 09:05
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chetan2u

Hi,
you may have to google a bit for profit percentage...
and don't mix gross profit margin % and profit percentage...

However, I was just curious how will you calculate the loss percentage.....
say Ben purchased a pen for 100 and magnanimously sold it for 10 ...
what would be the loss %..
as per the logic conveyed it will be 90/10, which will be 900%...
but with the same logic can it be greater than 100%..
Show more

I googled and this is the top result:

Divide your gross profit by your total revenue generated. In this example, you would divide $1,800 by $11,800 to get 0.15. Multiply the result from Step 2 by 100 to find the gross profit margin percentage. Finishing the example, you would multiply 0.15 by 100 to find that your gross profit margin equals 15 percent.

The base is Revenue and not cost..

And yes, the net loss (or mod of loss) may be greater than 100%, in your mentioned case it will be -900% but the profit can never be >100% (and practically can neither be 100%)
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If the selling price is doubled 11 Dec 2015, 09:12
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chetan2u

Hi,
you may have to google a bit for profit percentage...
and don't mix gross profit margin % and profit percentage...

However, I was just curious how will you calculate the loss percentage.....
say Ben purchased a pen for 100 and magnanimously sold it for 10 ...
what would be the loss %..
as per the logic conveyed it will be 90/10, which will be 900%...
but with the same logic can it be greater than 100%..

I googled and this is the top result:

Divide your gross profit by your total revenue generated. In this example, you would divide $1,800 by $11,800 to get 0.15. Multiply the result from Step 2 by 100 to find the gross profit margin percentage. Finishing the example, you would multiply 0.15 by 100 to find that your gross profit margin equals 15 percent.

The base is Revenue and not cost..

The net loss in your mentioned case it will be -90%
Show more

Hi,
pl see the coloured portion and look for profit %..
you are giving formula of profit margin %..
when you google for profit %, google for profit % formula....
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If the selling price is doubled 11 Dec 2015, 09:15
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chetan2u

Hi,
pl see the coloured portion and look for profit %..
you are giving formula of profit margin %..
when you google for profit %, google for profit % formula....
Show more

OK got that...but will such an aspect be asked on the real GMAT? Provided the profit margin % is also there??
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If the selling price is doubled 11 Dec 2015, 09:20
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sandeepk123
chetan2u

Hi,
pl see the coloured portion and look for profit %..
you are giving formula of profit margin %..
when you google for profit %, google for profit % formula....

OK got that...but will such an aspect be asked on the real GMAT? Provided the profit margin % is also there??
Show more

GMAT will restrict to the profit % and profit margin % is not touched...

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