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Is there a loss in transaction?

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Manager
Manager
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S
Joined: 05 Oct 2017
Posts: 65
GMAT 1: 560 Q44 V23
Is there a loss in transaction?  [#permalink]

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New post 30 Sep 2018, 01:13
2
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

62% (01:12) correct 38% (01:17) wrong based on 61 sessions

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Is there a loss in transaction?

1) 20% of Cost price is $20 more than 40% of selling price.
2) 30% of Cost price is $10 less than 20% of selling price.

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It’s not that I’m so smart, it’s just that I stay with problems longer. -- Albert Einstein

Math Expert
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V
Joined: 02 Aug 2009
Posts: 7427
Re: Is there a loss in transaction?  [#permalink]

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New post 30 Sep 2018, 02:18
Is there a loss in transaction?

1) 20% of Cost price is $20 more than 40% of selling price.
So \(\frac{20}{100}*C=20+S*\frac{40}{100}.....20C=2000+40S...C=100+2S\)
So Cost Price is more than Selling price
Therefore loss
Sufficient

2) 30% of Cost price is $10 less than 20% of selling price.
So \(\frac{30}{100}*C=S*\frac{20}{100}-10.....30C=20S-1000.........\)
So Cost Price is less than Selling price
Therefore profit
Sufficient

D..

Note.. you can't have two different answers from the two statements, so question is flaqed
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1) Absolute modulus : http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372
2)Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html
3) effects of arithmetic operations : https://gmatclub.com/forum/effects-of-arithmetic-operations-on-fractions-269413.html
4) Base while finding % increase and % decrease : https://gmatclub.com/forum/percentage-increase-decrease-what-should-be-the-denominator-287528.html


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G
Joined: 21 May 2016
Posts: 28
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Re: Is there a loss in transaction?  [#permalink]

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New post 02 Oct 2018, 01:42
1) 20/100∗C=20+S∗40/100
C=100+2S
Sufficient

2)30/100∗C=S∗20/100−10
30C+1000=20S
1.5C+50=S
Sufficient

Hence D
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Director
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D
Joined: 27 May 2012
Posts: 713
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Re: Is there a loss in transaction?  [#permalink]

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New post 20 Jan 2019, 08:08
aa008 wrote:
Is there a loss in transaction?

1) 20% of Cost price is $20 more than 40% of selling price.
2) 30% of Cost price is $10 less than 20% of selling price.


Dear Moderator,
Can we mark this question as poor quality as we seem to be getting two different answers from the two statements. Thank you.
_________________

- Stne

GMAT Club Bot
Re: Is there a loss in transaction?   [#permalink] 20 Jan 2019, 08:08
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Is there a loss in transaction?

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