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The percentage profit earned by selling an article for $1920 is equal

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The percentage profit earned by selling an article for $1920 is equal  [#permalink]

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New post Updated on: 10 Oct 2017, 20:34
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A
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C
D
E

Difficulty:

  25% (medium)

Question Stats:

72% (01:42) correct 28% (02:15) wrong based on 66 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, 18:30.
Last edited by Bunuel on 10 Oct 2017, 20:34, edited 1 time in total.
Renamed the topic.
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Re: The percentage profit earned by selling an article for $1920 is equal  [#permalink]

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New post 10 Oct 2017, 18:34
2
Percent Profit/Loss = x

C + xC = 1920
C - xC = 1280

Solving for C => 2C = 3200 => C = 1600

Sale Price with 25% profit => 1.25*1600 = 2000. So, answer is A.
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Re: The percentage profit earned by selling an article for $1920 is equal  [#permalink]

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New post 18 Dec 2018, 22:28
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

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Re: The percentage profit earned by selling an article for $1920 is equal  [#permalink]

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New post 18 Dec 2018, 23:47
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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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Re: The percentage profit earned by selling an article for $1920 is equal  [#permalink]

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New post 21 Dec 2018, 02:46
Bunuel, could you please step in here? No explanation seems to do the trick sufficiently...

I'm confused!
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Re: The percentage profit earned by selling an article for $1920 is equal  [#permalink]

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New post 21 Dec 2018, 04:54
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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]

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New post 21 Dec 2018, 08:18
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, 08:18
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