Last visit was: 25 Apr 2026, 21:03 It is currently 25 Apr 2026, 21:03
Home
Messages
Tests
Schools
Events
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
Back to Forum
Create Topic
User avatar
Bunuel
User avatar
Math Expert
Joined: 02 Sep 2009
Last visit: 25 Apr 2026
Posts: 109,830
Own Kudos:
811,294
 [5]
Given Kudos: 105,886
Products:
GMAT Club Tests Forum Quiz
Expert
Expert reply
Active GMAT Club Expert! Tag them with @ followed by their username for a faster response.
Posts: 109,830
Kudos: 811,294
 [5]
Mr. Joe bought two plots and asks his two children, Prince & Cherry 08 Nov 2021, 03:15
Kudos
Add Kudos
5
Bookmarks
Bookmark this Post
00:00
Start Timer
Pause Timer
Resume Timer
Show Answer
Hide
Show
History
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!

Difficulty:

45% (medium)

Question Stats:

71% (02:23) correct 29% (02:40) wrong based on 310 sessions

History

Date
Time
Result
Not Attempted Yet
Mr. Joe bought two plots and asks his two children, Prince & Cherry, to sell them. Both sold the plots at the same price of $9100 each. Mr. Joe got a profit of 30% on the plot sold by Prince and loss of 30% on the plot sold by Cherry. If expenses are disregarded, what was the overall profit or loss on the two plots sold?

A. $1000 Profit
B. $1200 Loss
C. $1800 Profit
D. $1800 Loss
E. None of these
ShowHide Answer
Official Answer
D
User avatar
chetan2u
User avatar
GMAT Expert
Joined: 02 Aug 2009
Last visit: 25 Apr 2026
Posts: 11,229
Own Kudos:
45,020
 [1]
Given Kudos: 335
Status:Math and DI Expert
Location: India
Concentration: Human Resources, General Management
GMAT Focus 1: 735 Q90 V89 DI81
Products:
My Reviews
Expert
Expert reply
GMAT Focus 1: 735 Q90 V89 DI81
Posts: 11,229
Kudos: 45,020
 [1]
Mr. Joe bought two plots and asks his two children, Prince & Cherry 08 Nov 2021, 03:50
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Bunuel
Mr. Joe bought two plots and asks his two children, Prince & Cherry, to sell them. Both sold the plots at the same price of $9100 each. Mr. Joe got a profit of 30% on the plot sold by Prince and loss of 30% on the plot sold by Cherry. If expenses are disregarded, what was the overall profit or loss on the two plots sold?

A. $1000 Profit
B. $1200 Loss
C. $1800 Profit
D. $1800 Loss
E. None of these
Show more

Let us calculate for each.

Prince
SP=9100
Profit = 30%
Thus 130% of CP = 9100 => \(CP=9100*\frac{100}{130}=7000\)

Cherry
SP=9100
Loss = 30%
Thus 70% of CP = 9100 => \(CP=9100*\frac{100}{70}=13000\)

Total cost = 13000+7000 = 20000
Total amount recieved after selling = 2*9100 = 18200
Loss = 20000-18200 = 1800


D
User avatar
Vishnubhat
User avatar
Joined: 31 May 2024
Last visit: 07 Jan 2026
Posts: 1
Own Kudos:
1
 [1]
Given Kudos: 11
Posts: 1
Kudos: 1
 [1]
Mr. Joe bought two plots and asks his two children, Prince & Cherry 20 Jun 2024, 07:46
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
by another method which says to use x^2/100 in qns of these kind . we get 30*30/100 which is 9 . clear my confusion please
User avatar
pierjoejoe
User avatar
Joined: 30 Jul 2024
Last visit: 29 Jul 2025
Posts: 126
Own Kudos:
57
Given Kudos: 425
Location: Italy
Concentration: Accounting, Finance
GMAT Focus 1: 645 Q84 V84 DI78
GPA: 4
WE:Research (Technology)
GMAT Focus 1: 645 Q84 V84 DI78
Posts: 126
Kudos: 57
Mr. Joe bought two plots and asks his two children, Prince & Cherry 10 Oct 2024, 13:05
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Vishnubhat
by another method which says to use x^2/100 in qns of these kind . we get 30*30/100 which is 9 . clear my confusion please
Show more
that formula is useful to calculate the total decrease after a first increase and than a decrease of the same percentage (ex 30% in this case)

that -9% you get has a MEANING --> in this specific case the problem states that 30% is the percentage LOSS or PROFIT.

the percentage loss or profit is just the profit (revenues-costs) over the costs. here we have the "revenues" --> 9100. but we do not have the cost.

so we can calculate that 9%, but to obtain the total loss or profit you have to calculate the costs nonetheless.

how to calculate the costs? we know that:
one child has sold at a loss of 30% for 9100 --> meaning he has bought the land at a higher price --> cost *(1 - 30%) = 9100 --> cost = 9100/0.7 = 13.000
the other has sold at a profit of 30% for 9100 --> meaning that he has bought the land at a lower price --> cost *(1 + 30%) = 9100 --> cost = 9100/1.3 = 7.000

now we know the total cost for both childs --> 13.000 + 7.000 = 20.000$

we know that the total loss suffered is 9% (ON THE COST) --> 20.000$ * 9% = 1800 is the loss.


but be careful! because once you have the costs for each child, and you also know the revenues --> we can more easily calculate the profit and loss
first child --> 9100 - 13.000 = -3900 loss
second child --> 9100 - 7.000 = 2100 profit

total loss = 2100 -3900 = -1800
Moderators:
Bunuel
Math Expert
109830 posts
Krunaal
Tuck School Moderator
852 posts