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

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

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New post 30 Sep 2018, 20:04
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Question Stats:

55% (01:08) correct 45% (01:38) wrong based on 51 sessions

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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!!!..

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Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

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New post 30 Sep 2018, 20:12
2
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.
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Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

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New post 30 Sep 2018, 21:09
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.
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Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

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New post 01 Oct 2018, 00:36
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
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Re: John sold a book for $50. If he made a profit of 25% on it, by how muc  [#permalink]

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New post 05 Oct 2018, 09:17
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
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Re: John sold a book for $50. If he made a profit of 25% on it, by how muc   [#permalink] 05 Oct 2018, 09:17
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