Last year 12.6 percent of the total value of all merchandise sold by

Question

Last year 12.6 percent of the total value of all merchandise sold by a certain department store was from the store's brand. If the revenue from the sale of the store's brand of merchandise last year was $7.2 million, approximately how many million dollars of revenue did the store earn from the sale of merchandise that was not the store's brand?

(A) 1
(B) 6
(C) 36
(D) 50
(E) 58

(A) 1
(B) 6
(C) 36
(D) 50
(E) 58

Shakemon · Accepted Answer

It should be noticed that 12.6 percent is roughly 1/8, meaning total value of all merchandise can be approximated by multiplying 8 by 7.2 million, which is 57.6 million. So, if we subtract store's brand revenue of 7.2 million from the total of 57.6 million, we get an approximate value close to 50 million. The answer is D.

gmatophobia · Answer

The total value of all merchandise sold =  $x

12.6 %  * x = 7.2*10^{6}

\frac{12.6}{100}*x = 7.2*10^{6}

x = \frac{7.2*10^{6}*100}{12.6}

x = \frac{72*10^{6}*10}{12.6}

x \approx 60*10^6

Percentage of merchandise that was not from the store's brand = 100% - 12.6% = 87.4%

Revenue from the sale of 87.4% of merchandise  \approx 87.4 % of  60*10^6

\approx 87 % of  60*10^6

\approx \frac{87}{100}*60*10^6

\approx 52.2*10^6

The closest option is 50

Option D

rakman123 · Answer

Simple Approach

First thing to ask yourself; 7.2m is 12.6% of what number (x)? Since the question says  approximate , let us round the numbers to 7m & 13%.
 
So, back to our Q --> 7=13/100(x) --> x≈53.

We already know 7 of that 53 is the stores own brand, the question asks for the rest of the amount excluding the stores brand.

So, 53-7 = 46

The closest option to 46 is 50, answer D.

ShilpiAgnihotrii · Answer

30 secs solution:

Approx ~12.5% makes 7.2 million
So, 1% is ~ 7.2/12.5 = 0.576

So remaining ~ 87.5% will make .576 * 87.5 ~ 50 millon

Ans: D

Gemmie · Answer

Revenue from store's brand: 12.6%
Revenue from other brands: 100% - 12.6% = 83.6%

=>  \frac{Others }{ Store} = \frac{83.6}{12.6} = \approx{\frac{84}{12}} = 7

Revenue from store's brand = 7.2 mil
Revenue from other brands =  7.2 * 7 \approx{7 * 7} = 49 \approx{50}

a191291r · Answer

Given that 12.6% gave a revenue of $7.2Mil

Eyeballing, we know that 12.5% is 1/8th of 100%

So, 1 in 8 parts is $7.2Mil, means rest of the chunk should be 7 in 8 parts.

So answer should be 7*7.2Mil = $50 Mil (approx)

Answer is D

I marked E because I had a brain fart and I calculated total revenue instead, which was $58 Mil.

AlieuK117 · Answer

The path that we took towards solving this involved Ratios and Approximation:

Approximation being the key word!

From the problem we are able to assert that 12.6% is equal to 7.2 Million and thusly a corresponding 87.4% will be equal to X. From this we should be able to set up two ratios.

/  - The relationship of the store brand specific merchandise to all other merchandise
  / x - The relationship of the revenue derived from the store brand specific merchandise to all other merchandise

From here we can attempt to cross-multiply (due to the uncomfortableness that decimals bring forth consider rounding...) so you should end up with the equation:

13x = 609 
Divide both sides by 13 
and you are left with  46 (Remainder 8)

Looking at the answer choices we should be comfortable in selecting  D  (As this is the closest to 46.8)

Last year 12.6 percent of the total value of all merchandise sold by

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