Kim sold five shirts in a day in her shop. What was the profit percent

Question

Kim sold five shirts in a day in her shop. What was the profit percent earned by her on the sale of these five shirts, if profit is just to be calculated as the difference between total selling price and total cost price of these five shirts, and profit percent would be the profit as a percentage of the total cost price?

(1) Kim gave a discount of 20% on the marked price of each shirt, and the marked price of each shirt was 50% higher than that shirt's cost price.

(2) All five shirts sold by Kim had the same cost price.

warrior1991 · Answer

IMO C

Without knowing the CP of 5 shirts we cannot get the exact value.
And st 2 makes it clear that the CP is same for all the 5 shirts.

CP = x
MP will be 1.5 x
and therefore SP will be 1.2 x

total CP 5x
total SP 6x
profit % = ((6x-5x)/5x )*100=20%

rakeshmishra5690 · Answer

1) let C.P of 5 shirts are a,b,c,d and e.
 M.P of 1st shirt = 1.5a
 S.P of 1st shirt = 1.5a * 0.8 = 1.2a
 similarly S.P of remain shirts = 1.2b, 1.2c, 1.2d and 1.2e
 Total C.P = a+b+c+d+e
 total SP = 1.2(a+b+c+d+e)
 total profit = 0.2(a+b+c+d+e)
Total % profit = 0.2(a+b+c+d+e)/(a+b+c+d+e)* 100
 = 20%

Sufficient

2) Clearly not sufficient. As we do not have any information to derive profit.

Ans A

bumpbot · Answer

Automated notice from GMAT Club BumpBot: 

A member just gave Kudos to this thread, showing it’s still useful. I’ve bumped it to the top so more people can benefit. Feel free to add your own questions or solutions.

 This post was generated automatically.

Kim sold five shirts in a day in her shop. What was the profit percent

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia