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# Patrick purchased 80 pencils and sold them at a loss

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Manager
Joined: 11 Feb 2014
Posts: 67
Patrick purchased 80 pencils and sold them at a loss [#permalink]

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22 Jun 2014, 11:14
2
8
00:00

Difficulty:

45% (medium)

Question Stats:

62% (01:34) correct 38% (01:40) wrong based on 142 sessions

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Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 20 pencils. The cost of 80 pencils is how many times the selling price of 80 pencils?

(A) 0.75
(B) 0.8
(C) 1
(D) 1.2
(E) 1.25

Source: Math bible Nova
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Joined: 02 Sep 2009
Posts: 46035
Re: Patrick purchased 80 pencils and sold them at a loss [#permalink]

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22 Jun 2014, 11:38
2
1
Game wrote:
Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 20 pencils. The cost of 80 pencils is how many times the selling price of 80 pencils?

(A) 0.75
(B) 0.8
(C) 1
(D) 1.2
(E) 1.25

Source: Math bible Nova

Say the cost price of 80 pencils was $80 ($1 per pencil) and the selling price of 1 pencil was p.

Selling at a loss: 80 - 80p = 20p --> p = 4/5.

(cost price)/(selling price) = 1/(4/5) = 5/4 = 1.25.

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Re: Patrick purchased 80 pencils and sold them at a loss [#permalink]

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23 Jun 2014, 00:10
Let cost price of 80 pencils = 80c

Let selling price of 80 pencils = 80s ............ (1)

Pencils sold at a loss equal to the selling price of 20 pencils

80c - 80s = 20s

80c = 100s

$$s = \frac{4c}{5}$$

Selling price of 80 pencils $$= 80 * \frac{4c}{5} = 64c$$ ........... From (1)

Require to find

Cost of 80 pencils = How many times Selling Price of 80 pencils

80c = 64c x ???

Answer $$= \frac{80}{64} = \frac{5}{4} = 1.25$$

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Manager
Status: 2 months to go
Joined: 11 Oct 2015
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GMAT 1: 730 Q49 V40
GPA: 3.8
Patrick purchased 80 pencils and sold them at a loss [#permalink]

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23 May 2016, 12:13
Game wrote:
Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 20 pencils.
The cost of 80 pencils is how many times the selling price of 80 pencils?

(A) 0.75
(B) 0.8
(C) 1
(D) 1.2
(E) 1.25

$$selling price = p$$
$$cost = c$$

since we have incurred a loss equal to the cost of 20 pencils

$$80p-80c=20c$$
$$80p=100c$$
and given that the problem is asking us how many times the cost is equal to the selling price

we can calculate p:

$$p = \frac{100}{80} c$$ or -> $$p = \frac{5}{4} c$$ -> $$p = 1,25 c$$

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Re: Patrick purchased 80 pencils and sold them at a loss [#permalink]

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09 Oct 2017, 17:24
Game wrote:
Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 20 pencils. The cost of 80 pencils is how many times the selling price of 80 pencils?

(A) 0.75
(B) 0.8
(C) 1
(D) 1.2
(E) 1.25

We can let c = the cost per pencil and p = the selling price per pencil; thus:

80p - 80c = -20p

100p = 80c

The problem is asking for the ratio of 80c to 80p. Since 80c = 100p, 80c/80p = 100p/80p = 10/8 = 5/4 = 1.25.

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Re: Patrick purchased 80 pencils and sold them at a loss   [#permalink] 09 Oct 2017, 17:24
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# Patrick purchased 80 pencils and sold them at a loss

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