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Updated on: 10 Oct 2017, 21:34
1
4
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Difficulty:

25% (medium)

Question Stats:

72% (01:43) correct 28% (02:20) wrong based on 70 sessions

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The percentage profit earned by selling an article for $1920 is equal in the percentage loss incurred by selling the same article for$1280. At what price should the article be sold to make 25% profit?

A) 2000
B) 2200
C) 2400
D) 2600
E) 2800

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Originally posted by varun4s on 10 Oct 2017, 19:30.
Last edited by Bunuel on 10 Oct 2017, 21:34, edited 1 time in total.
Renamed the topic.
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18 Dec 2018, 23:28
I've got no idea what the above explanation is (not saying it's wrong). Someone please explain it.

Percent profit = |Percent loss|, since percent loss will be a negative, can represent it as -(percent loss)

(1920-x)/x = -(1280-x)/x
Multiply both sides by x
(1920-x)=x-1280
3200=2x
1600=x

This solves for x, but not for the 25% increase from x

125/100·1600=5·400=2000

A
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Re: The percentage profit earned by selling an article for $1920 is equal [#permalink] Show Tags 19 Dec 2018, 00:47 1 Let the percentage (profit or Loss) in each case be x% Let the cost price be$C

Then , 1920 = C * $$\frac{(100 + x )}{100}$$ (Profit of x%)
1280 = C * $$\frac{(100 - x)}{100}$$ (Loss of x%)

Adding the two equations,

1920 + 1280 = 2C

C = 1600

Now, to make 25% profit,

Selling Price = 1600 *$$\frac{125}{100}$$

= 2000 Choice A
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21 Dec 2018, 05:54
1
gota900 wrote:
Bunuel, could you please step in here? No explanation seems to do the trick sufficiently...

I'm confused!

Here is an easy solution: https://gmatclub.com/forum/the-percenta ... l#p1941691 C there stands for the COST. Recall that both profit and loss are calculated on the cost of an item.
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Re: The percentage profit earned by selling an article for $1920 is equal [#permalink] Show Tags 21 Dec 2018, 09:18 varun4s wrote: The percentage profit earned by selling an article for$1920 is equal in the percentage loss incurred by selling the same article for $1280. At what price should the article be sold to make 25% profit? A) 2000 B) 2200 C) 2400 D) 2600 E) 2800 (1920-x)/x = (x-1280)/x x= 1600 x-1600/1600 = 25/100 x =$2000 IMO A
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Re: The percentage profit earned by selling an article for $1920 is equal [#permalink] 21 Dec 2018, 09:18 Display posts from previous: Sort by The percentage profit earned by selling an article for$1920 is equal

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