Johny bought a book and sold it at a loss of 10%.

Question

Johny bought a book and sold it at a loss of 10%.If he had bought it for 20% less and sold for 55$ more, he would have made a profit of 40%. What was the cost of the book?
A) 150$
B) 250$
C) 350$
D) 450$
E) None of these

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Kinshook · Accepted Answer

Given: Johny bought a book and sold it at a loss of 10%.If he had bought it for 20% less and sold for 55$ more, he would have made a profit of 40%. 
Asked: What was the cost of the book?

Let the cost of the book be $x
Selling price = .9x

If he had bought it for 20% less and sold for 55$ more, he would have made a profit of 40%. 
New cost price = .8x
New Selling price = .9x + 55
.9x + 55$ = 1.4(.8x) = 1.12x
.22x = 55$
x = 55$/.22 = 250$

IMO B

chetan2u · Answer

Let the cost price be x.

(1) The book is sold at a loss of 10% or at a price of 0.9x

(2) If he had bought it for 20% less and sold for 55$ more, he would have made a profit of 40%
So cost price becomes 20% less or 0.8x, and selling price becomes 0.9x+55, the profit would be 40% or 40*0.8x

0.9x+55-0.8x=0.4*0.8x.......55=0.32x-0.1x=0.22x 
 5500=22x......x=250$

B

ThatDudeKnows · Answer

I'm not going to pass up an opportunity to Plug In The Answers! I like trying B and D.

B:
Bought for $250. Sold for $225.
Bought for 20% less is $200. Sold for $55 more is $280.
Is that a profit of 40%? Yep.

Answer choice B.

ThatDudeKnowsPITA

GMThntr · Answer

If it sold for 0.9x+55 the profit would be 0.8x×0.4. 0.9x+55-0.8x=0.32x
X=250

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Johny bought a book and sold it at a loss of 10%.

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