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18 Mar 2022, 04:15
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
85%
(hard)
Question Stats:
63% (03:20) correct
37%
(02:56)
wrong
based on 227
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Suppose that, at current exchange rates, $1 (US) is equivalent to Q euros, and 1 euro is equivalent to 7Q Chinese Yuan. Suppose that K kilograms of Chinese steel, worth F Chinese Yuan per kilogram, sold to a German company that paid in euros, can be fashioned into N metal frames for chairs. These then are sold to an American company, where plastic seats & backs will be affixed to these frames. If the German company made a total net profit of P euros on this entire transaction, how much did the US company pay in dollars for each frame?
(A) \(\frac{KF}{7NQ^2} + \frac{P}{NQ}\)
(B) \(\frac{KF}{7NQ} - \frac{P}{N}\)
(C) \(\frac{KF}{7NQ} + \frac{PQ}{N}\)
(D) \(7QKF - \frac{P}{N}\)
(E) \(7Q^2KF + \frac{PQ}{N}\)
Are You Up For the Challenge: 700 Level Questions
(A) \(\frac{KF}{7NQ^2} + \frac{P}{NQ}\)
(B) \(\frac{KF}{7NQ} - \frac{P}{N}\)
(C) \(\frac{KF}{7NQ} + \frac{PQ}{N}\)
(D) \(7QKF - \frac{P}{N}\)
(E) \(7Q^2KF + \frac{PQ}{N}\)
Are You Up For the Challenge: 700 Level Questions
21 Mar 2022, 18:41
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Bunuel
Suppose that, at current exchange rates, $1 (US) is equivalent to Q euros, and 1 euro is equivalent to 7Q Chinese Yuan. Suppose that K kilograms of Chinese steel, worth F Chinese Yuan per kilogram, sold to a German company that paid in euros, can be fashioned into N metal frames for chairs. These then are sold to an American company, where plastic seats & backs will be affixed to these frames. If the German company made a total net profit of P euros on this entire transaction, how much did the US company pay in dollars for each frame?
(A) \(\frac{KF}{7NQ^2} + \frac{P}{NQ}\)
(B) \(\frac{KF}{7NQ} - \frac{P}{N}\)
(C) \(\frac{KF}{7NQ} + \frac{PQ}{N}\)
(D) \(7QKF - \frac{P}{N}\)
(E) \(7Q^2KF + \frac{PQ}{N}\)
(A) \(\frac{KF}{7NQ^2} + \frac{P}{NQ}\)
(B) \(\frac{KF}{7NQ} - \frac{P}{N}\)
(C) \(\frac{KF}{7NQ} + \frac{PQ}{N}\)
(D) \(7QKF - \frac{P}{N}\)
(E) \(7Q^2KF + \frac{PQ}{N}\)
Breaking Down the Info:
The strategy is to put everything in dollars since that is our final answer's currency.
$1 USD is equivalent to Q euros, which is equivalent to \(7Q^2\) yuan. Then K kilograms of Chinese steel is worth KF yuan, which is worth $\(\frac{KF}{7Q^2}\). Profit = Revenue - Cost, the revenue of the German company was how much the US company paid. The profit for the German company is P euros = $\(\frac{P}{Q}\).
Then Revenue = Profit + Cost = $\(\frac{P}{Q} + \frac{KF}{7Q^2}\). Finally divide by N to get the per frame cost.
Answer: A
General Discussion
17 Jan 2025, 11:56
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Hello from the GMAT Club BumpBot!
Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
