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# The selling price of an article is equal to the cost of the

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Intern
Joined: 05 Oct 2007
Posts: 16

Kudos [?]: 86 [0], given: 0

The selling price of an article is equal to the cost of the [#permalink]

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30 Oct 2007, 11:10
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Difficulty:

25% (medium)

Question Stats:

70% (00:44) correct 30% (01:07) wrong based on 158 sessions

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The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price?

(1) The markup on the television set is 25 percent of the cost.

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30 Oct 2007, 11:52
rags wrote:
The selling price of an article is equal to the cost of the article plus the markup. The
markup on a certain television set is what percent of the selling price?
(1) The markup on the television set is 25 percent of the cost.
(2) The selling price of the television set is $250. A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient. B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient. C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient. D. EACH statement ALONE is sufficient. E. Statements (1) and (2) TOGETHER are NOT sufficient. Answer should be A: C + M = S st.1 M = 0.25C C + 0.25C = S C = S/1.25 M = (0.25/1.25) * S .......SUFF st.2 INSUFF Kudos [?]: 26 [0], given: 7 Intern Joined: 28 Oct 2013 Posts: 4 Kudos [?]: [0], given: 1 Re: The selling price of an article is equal to the cost of the [#permalink] ### Show Tags 24 May 2014, 21:26 Rephrasing the question Price = Cost + Markup Mark up % = Markup / Price i) Markup = 25% of Cost M = 0.25C P = 0.25 Cost + 1 Cost P = 1.25 Cost Markup % = 0.25/1.25 (Cancel the C) Markup % = 20% ii) Price =$250
250 = C + M
Linear equation. Two unknown variables. Not solveable

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Math Expert
Joined: 02 Sep 2009
Posts: 42246

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Re: The selling price of an article is equal to the cost of the [#permalink]

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25 May 2014, 03:16
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The selling price of an article is equal to the cost of the article plus the markup. The markup on a certain television set is what percent of the selling price?

Given: Price=Cost+Markup.
Question: $$\frac{Markup}{Price}=?$$

(1) The markup on the television set is 25 percent of the cost. $$Markup=0.25*Cost$$ --> $$Price=Cost+Markup=Cost+0.25*Cost=1.25*Cost$$ --> $$\frac{Markup}{Price}=\frac{0.25*Cost}{1.25*Cost}=0.2$$. Sufficient.

(2) The selling price of the television set is \$250. Not sufficient to get the ratio required.

OPEN DISCUSSION OF THIS QUESTION IS HERE: the-selling-price-of-an-article-is-equal-to-the-cost-of-the-138738.html

All OG13 questions with solutions are here: the-official-guide-quantitative-question-directory-143450.html
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Kudos [?]: 132652 [0], given: 12331

Re: The selling price of an article is equal to the cost of the   [#permalink] 25 May 2014, 03:16
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