GMAT Question of the Day: Daily via email | Daily via Instagram New to GMAT Club? Watch this Video

 It is currently 24 Jan 2020, 04:57

### 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

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

# Patrick purchased 80 pencils and sold them at a loss

Author Message
TAGS:

### Hide Tags

Manager
Joined: 11 Feb 2014
Posts: 58
Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

22 Jun 2014, 11:14
4
13
00:00

Difficulty:

55% (hard)

Question Stats:

58% (01:55) correct 42% (02:08) wrong based on 230 sessions

### HideShow timer Statistics

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
Math Expert
Joined: 02 Sep 2009
Posts: 60644
Re: Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

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.

_________________
SVP
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1723
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Re: Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

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

Manager
Status: 2 months to go
Joined: 11 Oct 2015
Posts: 100
GMAT 1: 730 Q49 V40
GPA: 3.8
Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

23 May 2016, 12:13
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

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

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

Target Test Prep Representative
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 9125
Location: United States (CA)
Re: Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

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.

_________________

# Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
181 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

Director
Joined: 04 Aug 2010
Posts: 514
Schools: Dartmouth College
Re: Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

17 Jul 2018, 03:54
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

Since the two blue values above are equal, the given question stem is the same as the following:
The cost of EACH PENCIL is how many times the selling price of EACH PENCIL?

Let the selling price of each pencil = $1. Thus, the selling price of 80 pencils =$80.

Since Patrick's loss is equal to the selling price of 20 pencils, we get:
Loss = 20*1 = 20.

Since the 80 pencils are sold for $80 at a loss of$20, Patrick's cost for the 80 pencils must be $100. Since 80 pencils have a total cost of$100, the cost per pencil $$= \frac{100}{80} = \frac{5}{4} = 1.25$$.

Resulting ratio:
$$\frac{cost-per-pencil}{selling-price-per-pencil} = \frac{1.25}{1} = 1.25$$.

_________________
GMAT and GRE Tutor
New York, NY

Available for tutoring in NYC and long-distance.
VP
Joined: 31 Oct 2013
Posts: 1493
Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
Re: Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

27 Oct 2018, 05:07
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

loss = cp - sp

sp of 20 pencils = cp of 80 pencils - sp of 80 pencils

sp of 20 pencils + sp of 80 pencils = cp of 80 pencils

sp of 100 pencils = cp of 80 pencils.

Cp = 100

sp = 80.

Question : The cost of 80 pencils is how many times the selling price of 80 pencils

cost price of 80 pencils = 80

sp of 80 pencils:

sp of 100 pencils 80

sp of 1 pencil 80 /100

sp of 80 pencil 80 * 80 / 100 = 64.

So, selling price of 80 pencils = 64

80/ 64 = 1.25.

Intern
Joined: 05 Jul 2018
Posts: 3
Location: India
Concentration: Finance, Accounting
GPA: 4
Re: Patrick purchased 80 pencils and sold them at a loss  [#permalink]

### Show Tags

27 Oct 2018, 06:13
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

Source: Math bible Nova

Let the cost price of 80 pencils be C.P
And revenue from selling 80 pencils be S.P

Loss = (20/80)*S.P = 0.25 S.P ... eq1
and we know loss = C.P - S.P ..... eq2

C.P - S.P = 0.25 S.P
C.P = 1.25 S.P

Therefore C.P. is 1.25 times the S.P.
Re: Patrick purchased 80 pencils and sold them at a loss   [#permalink] 27 Oct 2018, 06:13
Display posts from previous: Sort by