NEW HERE? LEARN MORE
closeclose
Last visit was: 23 Apr 2024, 18:12 It is currently 23 Apr 2024, 18:12
Decision Tracker
My Rewards
New posts
New comers' posts

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.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

The markup on a television set is 20 percent of the cost. The markup

SORT BY:
Date
Kudos
Tags:
Find Similar Topics 
Show Tags
Hide Tags
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 92883
Own Kudos [?]: 618599 [2]
Given Kudos: 81563
Send PM
CAT Tests Forum Quiz Mode
The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   04 Jun 2019, 01:11
2
Bookmarks
Expert Reply
00:00
A
B
C
D
E

Difficulty:

15% (low)

Question Stats:

81% (01:40) correct 19% (02:09) wrong based on 233 sessions
Hide Show timer Statistics
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price? (markup = selling price - cost)


(A) 8%

(B) 10%

(C) \(12 \frac{1}{2}\)%

(D) 15%

(E) \(16 \frac{2}{3}\)%


PS21236
ShowHide Answer
Official Answer
E
User avatar
P
Lampard42
Senior Manager
Senior Manager
Joined: 22 Nov 2018
Posts: 446
Own Kudos [?]: 491 [1]
Given Kudos: 292
Location: India
GMAT 1: 640 Q45 V35
GMAT 2: 740 Q49 V41
Send PM
GMAT ToolKit User
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   04 Jun 2019, 01:17
1
Kudos
Cost 100, Profit 20 therefore Selling price 120. Profit on Selling price is 20/120*100 = 16 2/3% Option E
User avatar
L
Archit3110
GMAT Club Legend
GMAT Club Legend
Joined: 18 Aug 2017
Status:You learn more from failure than from success.
Posts: 8018
Own Kudos [?]: 4095 [1]
Given Kudos: 242
Location: India
Concentration: Sustainability, Marketing
GMAT Focus 1:
545 Q79 V79 DI73
GPA: 4
WE:Marketing (Energy and Utilities)
Send PM
GMAT ToolKit User CAT Tests
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   04 Jun 2019, 04:26
1
Bookmarks
Bunuel wrote:
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price?
(markup = selling price - cost)

(A) 8%
(B) 10%
(C) 12 1/2%
(D) 15%
(E) 16 2/3%


cost = c
mark up = .2c
so sp= 1.2c
.2c/1,2c = 16 .6%
IMO E
User avatar
B
DarleneTran
Manager
Manager
Joined: 31 Dec 2017
Posts: 55
Own Kudos [?]: 24 [0]
Given Kudos: 0
Send PM
GMAT ToolKit User
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   05 Jun 2019, 02:33
markup (M) = selling price (S) - cost (C)
-->M=S - C-->S= M + C= 1.2C
M/S = 0.2C/1.2C = 1/6 (half of 1/3)= 0.167 (half of 1/3)--> E
User avatar
L
Abhishek009
Board of Directors
Joined: 11 Jun 2011
Status:QA & VA Forum Moderator
Posts: 6072
Own Kudos [?]: 4689 [0]
Given Kudos: 463
Location: India
GPA: 3.5
WE:Business Development (Commercial Banking)
Send PM
GMAT ToolKit User
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   05 Jun 2019, 12:28
Bunuel wrote:
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price?
(markup = selling price - cost)

(A) 8%
(B) 10%
(C) 12 1/2%
(D) 15%
(E) 16 2/3%


C = 100
M = 20
S = 120

So, M/S*100 = 20/120*100 = 16 2/3% , Answer must be (E)
User avatar
B
AyushCrackVerbal
CrackVerbal Representative
Joined: 13 May 2019
Posts: 66
Own Kudos [?]: 34 [0]
Given Kudos: 4
Send PM
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   07 Jun 2019, 20:25
Expert Reply
Let the cost price of the television be "\(x\)"

Since markup on the television set is 20% of the cost, Markup = 20 % of \(x = 0.2x\)

Markup = Selling Price - Cost Price

\(0.2x\) = Selling Price - \(x\)

Selling Price = \(1.2x\)

If markup is \(y\)% of the Selling Price, then:

\(y\) = Markup/Selling Price * 100 = \(\frac{0.2x}{1.2x}\) * 100 = \(\frac{1}{6}\) * 100 = 16 \(\frac{2}{3}\) %

The correct answer is E
User avatar
L
ScottTargetTestPrep
Target Test Prep Representative
Joined: 14 Oct 2015
Status:Founder & CEO
Affiliations: Target Test Prep
Posts: 18753
Own Kudos [?]: 22041 [0]
Given Kudos: 283
Location: United States (CA)
Send PM
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   09 Jun 2019, 19:05
Expert Reply
Bunuel wrote:
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price?
(markup = selling price - cost)

(A) 8%
(B) 10%
(C) 12 1/2%
(D) 15%
(E) 16 2/3%


The markup is 0.2c, and thus the selling price = c + 0.2c = 1.2c. Therefore, the markup is:

0.2c/(1.2c) = 0.2/1.2 = 2/12 = 1/6 = 16 ⅔%

Answer: E
User avatar
L
Abhishek009
Board of Directors
Joined: 11 Jun 2011
Status:QA & VA Forum Moderator
Posts: 6072
Own Kudos [?]: 4689 [0]
Given Kudos: 463
Location: India
GPA: 3.5
WE:Business Development (Commercial Banking)
Send PM
GMAT ToolKit User
The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   22 May 2020, 09:23
Bunuel wrote:
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price? (markup = selling price - cost)


(A) 8%

(B) 10%

(C) \(12 \frac{1}{2}\)%

(D) 15%

(E) \(16 \frac{2}{3}\)%


PS21236


\(CP = 100\) , \(Markup = 20\) & \(SP = 120\)

Markup is what percent of the selling price -

\(\frac{20}{120}*100\) = \(16 \frac{2}{3}\)% , Answer must be (E)
User avatar
L
TheNightKing
VP
VP
Joined: 18 Dec 2017
Posts: 1170
Own Kudos [?]: 991 [0]
Given Kudos: 421
Location: United States (KS)
GMAT 1: 600 Q46 V27
Send PM
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   01 Jun 2020, 21:42
Bunuel wrote:
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price? (markup = selling price - cost)


(A) 8%

(B) 10%

(C) \(12 \frac{1}{2}\)%

(D) 15%

(E) \(16 \frac{2}{3}\)%


PS21236


CP= 100

SP=120 (Markup + CP)

Markup is what % of SP? 20 is what percent of 120? 1/6 = 16.67%

Answer E
User avatar
G
Basshead
Director
Director
Joined: 09 Jan 2020
Posts: 967
Own Kudos [?]: 223 [1]
Given Kudos: 434
Location: United States
Send PM
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   27 Nov 2020, 12:41
1
Bookmarks
Bunuel wrote:
The markup on a television set is 20 percent of the cost. The markup is what percent of the selling price? (markup = selling price - cost)


(A) 8%

(B) 10%

(C) \(12 \frac{1}{2}\)%

(D) 15%

(E) \(16 \frac{2}{3}\)%


PS21236


cost = \(100\)
markup = \(20\)
selling price = \(120\)

\(\frac{20}{120} = \frac{1}{6} = 16.66\)%

Answer is E.
User avatar
L
EgmatQuantExpert
e-GMAT Representative
Joined: 04 Jan 2015
Posts: 3726
Own Kudos [?]: 16831 [0]
Given Kudos: 165
Send PM
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   28 Nov 2020, 00:49
Expert Reply

Solution



Given
In this question, we are given that
    • The markup on a television set is 20 percent of the cost
    • Markup = selling price – cost

To find
We need to determine
    • The markup is what percent of the selling price

Approach and Working out
Assuming that the television set is sold at the markup price only, if
    • Cost price = 100
    • Then, markup value = profit = 20% of cost price = 20% of 100 = 20
    • Hence, the selling price = 100 + 20 = 120
Therefore, markup as a percentage of the selling price = (20/120) * 100 = 16.67%

Thus, option E is the correct answer.

Correct Answer: Option E
User avatar
B
charlie-23
Intern
Intern
Joined: 22 Jul 2023
Posts: 41
Own Kudos [?]: 15 [0]
Given Kudos: 14
Location: India
Concentration: Entrepreneurship, Finance
Send PM
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink] New post   04 Sep 2023, 04:39
Mark Cost = Selling price - Cost
Cost = 100/20 Mark Cost

MC = SP - 5 MC
MC/CP = 1/6

E
GMAT Club Bot
gmatclubot
Re: The markup on a television set is 20 percent of the cost. The markup [#permalink]
04 Sep 2023, 04:39
Moderators:
Bunuel
Math Expert
92883 posts
yashikaaggarwal
Senior Moderator - Masters Forum
3137 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions