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09 Jul 2018, 18:45
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Q14 
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IMG_20180710_071518.jpg [ 76.82 KiB | Viewed 1412 times ]
Sent from my Redmi Note 3 using GMAT Club Forum mobile app
11 Jul 2018, 17:03
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This question is not complete as there is no information whether profit remains same, reduces or increases and by what factor. By wording of question, it seems to indicates that cost price of product in 2007 is same as selling price in 2006. Assuming that profit is kept at same level as earlier, new selling price (New SP) will be per below.
New SP = P + Old SP
Question is asking ratio of Old SP by New SP. Therefore, ratio = Old SP/New SP => Old SP/(P+Old SP)
Clearly, the ratio has to be less than 1 (assuming profit is positive).
But with no information given about profit, we can't answer whether it will be .66 or .8.
New SP = P + Old SP
Question is asking ratio of Old SP by New SP. Therefore, ratio = Old SP/New SP => Old SP/(P+Old SP)
Clearly, the ratio has to be less than 1 (assuming profit is positive).
But with no information given about profit, we can't answer whether it will be .66 or .8.
