An American dealer bought a table in Germany for 480 marks and sold th

Question

Exchange Rates in a Particular Year 
$1 = 5.3 francs 
$1 = 1.6 marks
 
An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in dollars?

(A) $0 
(B) $50
(C) $100 
(D) $150
(E) $200

PS39811.02

lacktutor · Accepted Answer

He bought a table for  \frac{480}{1.6} = $ 300

He sold it for  \frac{2385}{5.3}= \frac{23850}{53}= $ 450

--> Gross Profit:  450 -300 = $ 150.

Answer (D).

abannore · Answer

Answer: D

Cost price= 480 marks = $(480/1.6)=$300
Selling price= 2385 francs = $(2385/5.3)= $450

Profit= Selling price -Cost price = $450-$300= $150

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Lenel · Answer

Cost price= 480 marks = 480/1.6=$300
Selling price= 2385 francs = 23850/53=$450

Profit= Selling price -Cost price = $450-$300= $150

Answer: D

ScottTargetTestPrep · Answer

480 marks is 480/1.6 = 300 dollars.

2,385 francs is 2,385/5.3 = 450 dollars.

So, the profit is 150 dollars.

Answer: D

perfectreview · Answer

1.6 marks = $1

Multiply by 300 on both the sides 
=> (300)(1.6) marks = $(300)(1)
=> 480 marks = $300

5.3 francs = $1

Multiply by 450 on both the sides 
=> (450)(5.3) francs = $(450)(1)
=> 2385 francs = $450

Profit = $450 - $300 = $150

plaverbach · Answer

400/16?
Ok, easy!
300

But 2385/5.3?
Ive used 2385/5=479
 
479-300=179
X<179
D

CrackverbalGMAT · Answer

SOLUTION:

A NEW OG 2021 QUESTION

The price of buying (C.P) in dollars = 480 / 1.6

=300$
(As $1 = 1.6 marks)

The price of selling the table (S.P) in dollars = 2385 / 5.3

=450$
(As $1 = 5.3 francs)

Hence Profit of the dealer = SP-CP

= 450-300 = 150$ (OPTION D)

Hope this helps

Devmitra Sen(Math)

GMATinsight · Answer

Answer: Option D

Video solution by  GMATinsight

https://www.youtube.com/watch?v=HBxvTNTf-Y8

gmatpro15 · Answer

He bought a table for 480/1.6=$300

He sold it for 2385/5.3=$450

--> Gross Profit: 450−300=$150

Abhishek009 · Answer

CP = 480/1.6 = 300.00 ; SP = 2385/5.3 => 450.00

Profit = SP - CP => 450 - 300 = 150, Answer will be (D)

Ankur17000 · Answer

This might be an odd way of solving it but --> (2385*10)/53 - (480*10)/16
Here 480 is completely divisible by 16, but 53 is a prime number and the answers aren't in fractions so 2385 must be divisible by 53.

jawnjon · Answer

How are people calculating that 2385/5.3 = 450 without doing long division? I understand that since 48/16=3, you can easily reach that 480/1.6= 300, but how are people solving 2385/53? No one above has explained how they did it, so am curious to what methods people used (if any).

pabloq · Answer

I’m wondering this as well

Krunaal · Answer

You can write 2385/5.3 as 23850/53. Now you have to do the division, since the denominator is a prime no. While dividing you can intuitively figure out that the quotient can start with 4, since something around ~200 is getting divided by something around ~50.

MarcoPag · Answer

It punished me for trying to estimate. In under 2 mins its hard to assess if I should do long division so I usually avoid it. Any tips ? Feeling really slighted by this one

D3N0 · Answer

You can use the estimation in here, but with caution. See below.

For 480 Marks to dollors, you don't need any estimation as it is quite clearly divisible: 480/1.6 = 300

For 2385 francs you can use 5 instead of 5.3 = 23850/5 = 477

difference = 477-300 = 177 
now when you see the options, you see that there are 2 options 150 and 200 which could be the right answer for 177
From here,  remember that you reduced 5.3 to 5.   This means the actual value you should be getting is less than 477,   and the actual difference in price should be less than 177.  Hence, 150 is the right answer.

An American dealer bought a table in Germany for 480 marks and sold th

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An American dealer bought a table in Germany for 480 marks and sold th

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