GMAT Avengers Study Group Practice Question - Percentage - The Beat The GMAT Forum

GMAT Avengers Study Group Practice Question - Percentage

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helen.xia@mbawatch: Junior | Next Rank: 30 Posts; Posts: 11; Joined: Sun Jul 08, 2012 12:54 pmFollowed by: 3 members; Thanked: 2 times

by helen.xia@mbawatch » Sun Sep 22, 2013 9:33 am

FOR GMAT AVENGERS STUDY GROUP PARTICIPANTS - NO EXPERT REPLIES NEEDED

A store receives a shipment of the latest Shoot 'Em Up video game. 70% of the games is sold at 30% profit, and the remaining 30% is sold at a loss of 20%. What is the store's percentage gain or loss from the sale of this video game?

a) 10%
b) 15%
c) 20%
d) 25%
e) 30%

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Source: Beat The GMAT — Problem Solving | Sun Sep 22, 2013 9:33 am

theCodeToGMAT: Legendary Member; Posts: 1556; Joined: Tue Aug 14, 2012 11:18 pmFollowed by: 34 members; Thanked: 448 times; GMAT Score:650

by theCodeToGMAT » Sun Sep 22, 2013 9:41 am

Answer [spoiler][/spoiler]

What is the OA?

Steps to Solution:

Let units=1000
Cost price = 100

PROFIT CASE
UNIT = 700 (70%)
SP = 130 (30%)
Total revenue = 91,000

LOSS CASE
UNIT = 300
SP = 80
Total REVENUE = 24,000

Profit = 91000 + 24000 - 1000x100 = 15000

Percentage profit = 15000/100000 x 100 = 15%

R A H U L

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GMATGuruNY: GMAT Instructor; Posts: 15539; Joined: Tue May 25, 2010 12:04 pmFollowed by: 1906 members; Location: New York, NY; Thanked: 13060 times; GMAT Score:790

by GMATGuruNY » Sun Sep 22, 2013 10:05 am

helen.xia@mbawatch wrote:A store receives a shipment of the latest Shoot 'Em Up video game. 70% of the games is sold at 30% profit, and the remaining 30% is sold at a loss of 20%. What is the store's percentage gain or loss from the sale of this video game?

a) 10%
b) 15%
c) 20%
d) 25%
e) 30%

Of every 10 games, 7 yield a 30% profit, while 3 yield a 20% loss.
Average profit per 10 games = (7*30 - 3*20)/10 = 150/10 = 15.

The correct answer is B.

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ganeshrkamath: Master | Next Rank: 500 Posts; Posts: 283; Joined: Sun Jun 23, 2013 11:56 pmFollowed by: 26 members; Location: Bangalore, India; Thanked: 97 times; GMAT Score:750

by ganeshrkamath » Tue Sep 24, 2013 1:09 am

helen.xia@mbawatch wrote:FOR GMAT AVENGERS STUDY GROUP PARTICIPANTS - NO EXPERT REPLIES NEEDED

A store receives a shipment of the latest Shoot 'Em Up video game. 70% of the games is sold at 30% profit, and the remaining 30% is sold at a loss of 20%. What is the store's percentage gain or loss from the sale of this video game?

a) 10%
b) 15%
c) 20%
d) 25%
e) 30%

Let there be 100 games of price $1 each
Total cost price = 100
Total selling price = 70*1.3 + 30*0.8 = 91 + 24 = 115

Profit = 15%
Choose b

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