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

It is currently 22 Oct 2018, 15:54

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

John sold a book for $50. If he made a profit of 25% on it, by how muc

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

Hide Tags

Math Expert
User avatar
V
Joined: 02 Aug 2009
Posts: 6979
John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

Show Tags

New post 30 Sep 2018, 21:04
2
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

58% (00:47) correct 42% (01:16) wrong based on 45 sessions

HideShow timer Statistics

John sold a book for $50. If he made a profit of 25% on it, by how much should he increase the price if he wants to earn 50% on the book?
(A) $5
(B) $10
(C) $20
(D) $25
(E) $50


New question!!!..

_________________

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


GMAT online Tutor

Director
Director
User avatar
G
Joined: 31 Oct 2013
Posts: 652
Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

Show Tags

New post 30 Sep 2018, 21:12
1
chetan2u wrote:
John sold a book for $50. If he made a profit of 25% on it, by how much should he increase the price if he wants to earn 50% on the book?
(A) $5
(B) $10
(C) $20
(D) $25
(E) $50


New question!!!..



Current Selling price = 50

profit % = 25

So we can calculate the cost price of the book as follow:

(50 / 125)*100 = 40

cp = 40


Now we want to gain 50%.

Selling price new: (40*150 )/ 100 = 60.

Difference between new selling price and old selling price = 60 - 50 = 10

so we have to increase 10 $ to gain 50% on the book .

The best answer is B.
Manager
Manager
User avatar
B
Joined: 24 Nov 2017
Posts: 58
Location: India
GMAT 1: 720 Q51 V36
Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

Show Tags

New post 30 Sep 2018, 22:09
chetan2u wrote:
John sold a book for $50. If he made a profit of 25% on it, by how much should he increase the price if he wants to earn 50% on the book?
(A) $5
(B) $10
(C) $20
(D) $25
(E) $50


New question!!!..


Initial Selling Price = $50.
Profit = 25% of cost
Expressing profit as fraction 25% = 1/4 of cost.

SP = CP + Profit
50 = CP + 1/4 CP
Or 5/4 CP = 50
CP = 50*(4/5) = 40.

If John wants a profit of 50%, his selling price should be 40 + 50% of 40 = 40 + 20 = $60.
Initial selling price = $50.
So, he has to increase his SP by $10.
_________________

An IIM C Alumnus - Class of '94
GMAT Tutor at Wizako GMAT Classes & Online Courses

Senior Manager
Senior Manager
User avatar
G
Joined: 17 Jan 2017
Posts: 295
Location: India
GPA: 4
WE: Information Technology (Computer Software)
Premium Member CAT Tests
Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

Show Tags

New post 01 Oct 2018, 01:36
chetan2u wrote:
John sold a book for $50. If he made a profit of 25% on it, by how much should he increase the price if he wants to earn 50% on the book?
(A) $5
(B) $10
(C) $20
(D) $25
(E) $50


New question!!!..


Current price of the book \(= 50$\)
Let the initial price be\('x'\)
Profit of 25% i.e., \(50$ = x(1+25/100)\)
\(50$ = x (125/100)\)
\(x = 50/1.25\)
\(x = 40$\)
Initial price of book \(= 40$\)
To earn 50% profit \(= 40*(50/100) = 20$\)
Therefore, John needs to sell the book at \(= 40+20 = 60$\)
Current price \(= 50$\)
Price needed to increase \(= 60-50 = 10$\)

Hence B
_________________

Only those who risk going too far, can possibly find out how far one can go

Intern
Intern
avatar
B
Joined: 16 Jan 2017
Posts: 7
Premium Member CAT Tests
Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

Show Tags

New post 05 Oct 2018, 10:17
SP=$50
(1.25)*CP=50
So, CP=40
Now, Profit=50-40=$10
this means, 25% profit=$10
50% profit=$20
thus, increase in price=$20-$10=$10
GMAT Club Bot
Re: John sold a book for $50. If he made a profit of 25% on it, by how muc &nbs [#permalink] 05 Oct 2018, 10:17
Display posts from previous: Sort by

John sold a book for $50. If he made a profit of 25% on it, by how muc

  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®.