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11 Aug 2014, 11:34
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
70% (02:45) correct
30%
(02:50)
wrong
based on 499
sessions
History
Date
Time
Result
Not Attempted Yet
An importer wants to purchase N high quality cameras from Germany and sell them in Japan. The cost in Germany of each camera is E euros. He will sell them in Japan at Y yen each, which will bring in a profit, given that the exchange rate is C yen per euro. Given the exchange rate of D US dollars per euro, which of the following represents his profit in dollars?
(A) N(YC - DE)
(B) ND(YC - E)
(C) ND[(Y/C) - E]
(D) N[(Y/C) - DE]
(E) ND(Y - E)/C
:-)
(A) N(YC - DE)
(B) ND(YC - E)
(C) ND[(Y/C) - E]
(D) N[(Y/C) - DE]
(E) ND(Y - E)/C
For the OE to this problem, as well as a discussion of GMAT problems on Ratios & Rates, see:
https://magoosh.com/gmat/2014/rates-and-ratios/
Mike
https://magoosh.com/gmat/2014/rates-and-ratios/
Mike
11 Aug 2014, 14:37
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mikemcgarry
I think the BOLD text "He will sell them in Japan" should be "He will sell each of them in Japan". If he sells them ( all of N cameras) at Y yen, the answer will change a lot.
If he sell each of them at Y Yen, here is my solution:
Costs in Euro: E * N ( Euro)
Sales in Yen: N*Y (Y) --> Sales in Euro = N*Y/C (Y)
Profit: Sales - Costs = N*Y/C - E*N (Euro)
--> profit in USD = D*(N*Y/C - E*N) = D*N*(Y/C-E)
Answer is C
13 Aug 2014, 22:55
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Purchase from Germany
Quantity = n
Price = e euro
Total Cost = ne .............. (1)
Sell in Japan
Quantity = n
Price = y yen \(= \frac{y}{c}\) euro
Total Sell \(= \frac{ny}{c}\) ..................... (2)
Total Profit (In Euro) = (2) - (1)
\(= \frac{ny}{c} - ne\)
Total Profit (In Dollars)
\(= d(\frac{ny}{c} - ne)\)
\(= nd(\frac{y}{c} - e)\)
Answer = C
Quantity = n
Price = e euro
Total Cost = ne .............. (1)
Sell in Japan
Quantity = n
Price = y yen \(= \frac{y}{c}\) euro
Total Sell \(= \frac{ny}{c}\) ..................... (2)
Total Profit (In Euro) = (2) - (1)
\(= \frac{ny}{c} - ne\)
Total Profit (In Dollars)
\(= d(\frac{ny}{c} - ne)\)
\(= nd(\frac{y}{c} - e)\)
Answer = C
