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sritamasia
27 Nov 2021, 16:12
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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:
66% (01:49) correct
34%
(01:30)
wrong
based on 119
sessions
History
Date
Time
Result
Not Attempted Yet
What is the ratio of the cost price of a Hershey's Chocolate to its selling price?
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
Attachments
profit-and-loss-Discounts-and-Marked-Price.png [ 4.75 KiB | Viewed 1758 times ]
29 Nov 2021, 01:43
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Let the:
Marked Price = M
Selling Price = S
Cost Price = C
What is: (C / S) = ?
(1) M = 2(S)
Not sufficient
(2)
%Discount given is the percentage off of the Marked Price ——> that brings you to the final Selling Price of the item
%Discount = (M - S) / S * [100%]
And
%Profit = (S - C) / C * [100%]
Statement 2 tells us:
(M - S) / S = (S - C) / C
Not sufficient alone
Together
We are only looking for the ratio of (C / S)
Since statement 1 gives us a relationship in which the marked price (M) is in terms of the Sales Price (S) —->
We can put statement 2’s equation in terms of just C and S and find the ratio of Cost Price to Sales Price.
From here, you can logically see that the statements together are sufficient or proceed with the algebra to be sure
M = 2(S) ——-> substituting this in for M = Marked Price into statement 2’s equation we get:
(2S - S) / 2S = (S - C) / C
The S variable cancels out on the left hand side and we have
(1 / 2) = (S - C) / C
C = 2S - 2C
3C = 2S
(C / S) = (2 / 3)
C together sufficient
Posted from my mobile device
Marked Price = M
Selling Price = S
Cost Price = C
What is: (C / S) = ?
(1) M = 2(S)
Not sufficient
(2)
%Discount given is the percentage off of the Marked Price ——> that brings you to the final Selling Price of the item
%Discount = (M - S) / S * [100%]
And
%Profit = (S - C) / C * [100%]
Statement 2 tells us:
(M - S) / S = (S - C) / C
Not sufficient alone
Together
We are only looking for the ratio of (C / S)
Since statement 1 gives us a relationship in which the marked price (M) is in terms of the Sales Price (S) —->
We can put statement 2’s equation in terms of just C and S and find the ratio of Cost Price to Sales Price.
From here, you can logically see that the statements together are sufficient or proceed with the algebra to be sure
M = 2(S) ——-> substituting this in for M = Marked Price into statement 2’s equation we get:
(2S - S) / 2S = (S - C) / C
The S variable cancels out on the left hand side and we have
(1 / 2) = (S - C) / C
C = 2S - 2C
3C = 2S
(C / S) = (2 / 3)
C together sufficient
sritamasia
What is the ratio of the cost price of a Hershey's Chocolate to its selling price?
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
Posted from my mobile device
29 Nov 2021, 09:07
Kudos
Bookmarks
sritamasia
What is the ratio of the cost price of a Hershey's Chocolate to its selling price?
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
Question stem, rephrased:
What is the value of S/C ?
Statement 1:
M = 2S
S = M/2
Since the selling price is half of the marked price, the discount = 50%.
No information about C.
INSUFFiCIENT.
Statement 2:
Case 1: discount = profit = 50% --> info given in Statement 1
Since the selling price is 150% of the cost price -- yielding 50% profit -- we get:
S = 1.5C
S/C = 1.5
Case 2: discount = profit = 10%
Since the selling price is 110% of the cost price -- yielding 10% profit -- we get:
S = 1.1C
S/C = 1.1
Since S/C can be different values, INSUFFICIENT.
Statements combined:
Only Case 1 satisfies both statements.
Thus:
S/C = 1.5
SUFFICIENT.
