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A furniture dealer purchased a sofa and an armchair for the same 28 Oct 2023, 17:23
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45% (medium)

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76% (02:27) correct 24% (02:42) wrong based on 1037 sessions

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A furniture dealer purchased a sofa and an armchair for the same amount and sold the sofa for 20 percent more than the armchair. If the store's gross profit on the armchair was 10 percent the amount that the store paid for the armchair, then the store's gross profit on the sofa was what percent greater than its gross profit on the armchair?

A. 80%
B. 90%
C. 120%
D. 200%
E. 220%

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GMAT Focus 1: 735 Q90 V89 DI81
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A furniture dealer purchased a sofa and an armchair for the same 28 Oct 2023, 21:41
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nick13
A furniture dealer purchased a sofa and an armchair for the same amount and sold the sofa for 20 percent more than the armchair. If the store's gross profit on the armchair was 10 percent the amount that the store paid for the armchair, then the store's gross profit on the sofa was what percent greater than its gross profit on the armchair?

a.80%
b.90%
c.120%
d.200%
e.220%
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Let the Cost price be 100 for each.
So, the selling price of armchair is 1.1 * 100 or 110, that is profit is 10% of 100 or 10.
Also, the selling price of sofa is 20 percent more than the armchair or 1.2 * 110 or 132, that is profit is 32% of 100 or 32.

the store's gross profit on the sofa was what percent greater than its gross profit on the armchair
=> 32 is what percent greater than 10
\(100*\frac{32-10}{10}=220\)%

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A furniture dealer purchased a sofa and an armchair for the same 28 Oct 2023, 22:22
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nick13
A furniture dealer purchased a sofa and an armchair for the same amount and sold the sofa for 20 percent more than the armchair. If the store's gross profit on the armchair was 10 percent the amount that the store paid for the armchair, then the store's gross profit on the sofa was what percent greater than its gross profit on the armchair?

a.80%
b.90%
c.120%
d.200%
e.220%
Show more

"A furniture dealer purchased a sofa and an armchair for the same amount"

Let's assume that the furniture dealer purchased both the soft and the armchair for $100 each.

"...sold the sofa for 20 percent more than the armchair...."

The selling price of the armchair = $\(x\)

The selling price of the sofa = $\(1.2 * x\)

"...If the store's gross profit on the armchair was 10 percent the amount that the store paid for the armchair..."

Profit on the arm chair = 10% * $100 = $10

The selling price of the armchair = $\(x\) = $\(110\)

The selling price of the sofa = $\(1.2 * x\) = $\(132\)

...then the store's gross profit on the sofa was what percent greater than its gross profit on the armchair?...

Extra Profit = $132 - $110 = $22

Percentage = \(\frac{22}{10} * 100 = 220%\)

Option E
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A furniture dealer purchased a sofa and an armchair for the same 13 Jul 2024, 02:28
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Let x = the cost of the armchair and the sofa.

The profit on the armchair is 10% of the cost of the armchair = X/10
The revenue from the armchair is given by the formula: Revenue - Expenses = Profit => Revenue - X = X/10 =>
Revenue = 11x/10

The revenue from the sofa is 20% more than from the armchair = (120/100) * (11x/10) = 132x/100

The profit(revenue - expenses) from the sofa is (132x/100) - x = 32x/100

Percentage change formula: 100*(final - initial) / initial

100*(32x/100 - x/10) / x/10 = 100*((32 - 10)/100) / (1/10) = 22 / (1/10) = 220
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A furniture dealer purchased a sofa and an armchair for the same 14 Sep 2024, 10:57
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A furniture dealer purchased a sofa and an armchair for the same amount and sold the sofa for 20 percent more than the armchair. If the store's gross profit on the armchair was 10 percent the amount that the store paid for the armchair, then the store's gross profit on the sofa was what percent greater than its gross profit on the armchair?

S - Sofa
A - Armchair

S1 - Cost
A1 - Cost
S2 - Sell Price
A2 - Sell Price

((S2-S1)-(A2-A1))/(A2-A1)*100 = ?

S1=A1
S2=A2*120%

A2-A1=10%*A1
A2=110%*A1

S2-S1=A2*120%-A1=A2+A2*20%-A1
From above
--> =10%*A1+A2*20%=10%*A1+110%*A1*20%=32%*A1

((S2-S1)-(A2-A1))/(A2-A1)*100 = ?
(32%*A1-10%*A1)/(A2-A1) = 22%/10%*100 = 220%
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A furniture dealer purchased a sofa and an armchair for the same 25 Sep 2025, 06:12
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