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05 Jun 2018, 11:11
Kudos
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
80% (01:31) correct
20%
(01:50)
wrong
based on 188
sessions
History
Date
Time
Result
Not Attempted Yet
Marvin bought video games at a standard price of $40 per video game. If he sold all video games that he bought at same price of $X each, what percentage profit did he make in this transaction?
(1) Instead of $X, if he had sold each video game at a price of $X/2, with the same cost price of $40, he would have incurred a loss of 37.5% in this transaction.
(2) Instead of $X, if he had sold each video game at a price of $(2*X), with the same cost price of $40, he would have gained 150% in this transaction.
(1) Instead of $X, if he had sold each video game at a price of $X/2, with the same cost price of $40, he would have incurred a loss of 37.5% in this transaction.
(2) Instead of $X, if he had sold each video game at a price of $(2*X), with the same cost price of $40, he would have gained 150% in this transaction.
05 Jun 2018, 13:48
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amanvermagmat
From the question stem, we have the cost price of each video game.
We are told the price at which he sells each video game - $X
1. If he sold the video game at $X/2, he would have incurred a loss
of 37.5%. With this information and the cost price presented in the
question stem, we can find the value of X. (Sufficient)
2. If he sold the video game at $2X, he would have gained an overall
profit of 150%. With this information and the cost price presented in the
question stem, we can find the value of X. (Sufficient - Option D)
14 Aug 2024, 21:43
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