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18 Jan 2016, 23:48
1
3
00:00

Difficulty:

25% (medium)

Question Stats:

81% (01:52) correct 19% (02:13) wrong based on 115 sessions

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Sales price is $65, gross profit is 150% of cost, what is the value of gross profit? A. 32 B. 33 C. 39 D. 40 E. 42 Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 8397 Location: Pune, India Re: Sales price is$65, what is the value of gross profit?  [#permalink]

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19 Jan 2016, 00:03
1
2
fattty wrote:
Sales price is $65, gross profit is 150% of cost, what is the value of gross profit? A. 32 B. 33 C. 39 D. 40 E. 42 Cost + Profit = Sales Cost + (150/100)Cost = 65 Cost = 26 Profit = 65 - 26 = 39 Answer (C) _________________ Karishma Veritas Prep GMAT Instructor Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options > GMAT self-study has never been more personalized or more fun. Try ORION Free! Director Joined: 04 Dec 2015 Posts: 701 Location: India Concentration: Technology, Strategy Schools: ISB '19, IIMA , IIMB, XLRI WE: Information Technology (Consulting) Re: Sales price is$65, what is the value of gross profit?  [#permalink]

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23 May 2017, 16:21
1
fattty wrote:
Sales price is $65, gross profit is 150% of cost, what is the value of gross profit? A. 32 B. 33 C. 39 D. 40 E. 42 Given; Gross profit is 150% of cost price. Profit = Selling price - Cost price. Selling price =$65

Let the Cost price be X.

150% of X = 65 - X

$$\frac{150}{100}$$ * X = 65 - X

1.5X = 65 - X

2.5X =65

X = $26 Gross profit = 150% of 26 = 150/100 x 26 =$39.