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A cloth merchant

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by talaangoshtari » Wed Oct 07, 2015 7:16 am
A cloth merchant sells cloth at cost price but while selling he uses 80 cm scale instead of a meter scale. What is his profit percentage?

A. 20%
B. 25%
C. 30%
D. 35%
E. 40%
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by GMATGuruNY » Wed Oct 07, 2015 7:42 am
talaangoshtari wrote:A cloth merchant sells cloth at cost price but while selling he uses an 80 cm scale instead of a meter scale. What is his profit percentage?

A. 20%
B. 25%
C. 30%
D. 35%
E. 40%
Let the cost price per cm = $1.
Cost price of 80cm = 80*1 = $80.
Since 80cm are sold for the cost price of 100cm, the selling price = 100*1 = $100.
Profit/Cost = (100-80)/80 = 20/80 = 1/4 = 25%.

The correct answer is B.

What is the source of this problem?
The GMAT does not use the following phrases:
cost price, 80cm scale, meter scale.
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by talaangoshtari » Wed Oct 07, 2015 8:33 am
Hi GMATGuruNY,

Thank you for your response... I found it on the internet.
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