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by GmatKiss » Mon Oct 31, 2011 12:22 am
On a certain item, a discount of x% on the marked price gives a trader a profit of 2x% on the cost price. Is his profit more than 40% of the cost price?

A. The marked price is more than 1.8 times the cost price
B. The marked price is more than 1.7 times the cost price
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Source: — Data Sufficiency |
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by gmatblood » Mon Oct 31, 2011 12:24 am
IMO:D
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by shankar.ashwin » Mon Oct 31, 2011 12:44 am
Edited..

Since the problem is generic, assume values to simplify it.

I'll start with (2) because (1) is higher marked price.

From (2). Marked price = 1.7 CP
Assume CP=100, MP = 170.

now, (100+2x)/100 * CP = (100-x)/100 * MP

(100+2x)/100 * 100 = (100-x)/100 * 170

x > 19% (Profit > 38% - Cant say)

From(1) similarly we get x > 21% (Profit > 42% - Sufficient.)

Should be A
Last edited by shankar.ashwin on Mon Oct 31, 2011 2:14 am, edited 2 times in total.
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by ripulgupta » Mon Oct 31, 2011 1:59 am
For a profit of 40% the selling price of the item has to be at least 1.75 times Cost price.

1) Says more than 1.8 thus profit is more than 40% - Sufficient
2) Says selling price more than 1.7 times. It could be less than 1.75 or more than 1.75 - Not sufficient

My answer is A
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