Gmat Prep: Profit / Loss & Rate

#1)

Profit: 1.2x = 96, so x = 16 profit
Loss: .8x = 96, x = 120 so 120 - 96 = 24 Loss

Net Loss = 24 - 16 = $8 Loss

exhilaration wrote:Once again, if someone can provide a solution that would be great!

SP-CP= Profit

Percent Profit= (SP-CP)/CP=1/5

Percent Loss = (CP-SP)/CP=1/5

SP-CP=CP/5
96=6CP/5
CP=80


CP-96=CP/5
4CP/5=96
CP=120

Combined 96 x 2 -(120+80)=-$8.00

dtweah wrote:

exhilaration wrote:Once again, if someone can provide a solution that would be great!

SP-CP= Profit

Percent Profit= (SP-CP)/CP=1/5

Percent Loss = (CP-SP)/CP=1/5

SP-CP=CP/5
96=6CP/5
CP=80


CP-96=CP/5
4CP/5=96
CP=120

Combined 96 x 2 -(120+80)=-$8.00

Sounds good, but what about the second question?

I was thinking that the answer to it was....

10/25 = 2/5 + 50/40 = 1.65 gallons

60/1.65 = 36.xxx

Thanks!

Second problem: average miles per gallon is total miles traveled / total gallons consumed.

We have 10 miles in the city, and 50 miles on the highway so the numerator is 60.

How many gallons are consumed in the 10 miles in the city?10mi*(1gal/25mi) = 10/25 gal = 2/5 gal.

How many gallons are consumed in the 50 miles on the highway? 50 mi * (1gal/40mi) = 50/40 gal = 5/4 gal.

So the average is 60 miles /( 2/5gal + 5/4gal) = 60/(8/20gal + 25/20gal) = 60mi/(33/20gal) = (60*20/33)(mi/gal) = (20*20/11)(mi/gal) = 400/11 (mi/gal)

Get out the long division and you get 36.something.

Question 1

$96 can be broken down in to two parts I a 20% loss and II a20% profit

20% loss = 4/5 the original price loss(original price) = $120
20% profit =6/5 the original cost profit(original price) = $80

money spent on purchases = $(120+80) = $200

money received by the sale = $(96+96) = $192

Hence there is a loss of $ 8

For the second question - I get 36 too and raleigh has explained it well.

But wondering what is the OA? I see 28 marked on the attachment!

The marked answer is the answer he chose. When you verify the answer, the CAT puts a blue box around the choice. The OA isn't given for the second question.

raleigh wrote:Second problem: average miles per gallon is total miles traveled / total gallons consumed.

We have 10 miles in the city, and 50 miles on the highway so the numerator is 60.

How many gallons are consumed in the 10 miles in the city?10mi*(1gal/25mi) = 10/25 gal = 2/5 gal.

How many gallons are consumed in the 50 miles on the highway? 50 mi * (1gal/40mi) = 50/40 gal = 5/4 gal.

So the average is 60 miles /( 2/5gal + 5/4gal) = 60/(8/20gal + 25/20gal) = 60mi/(33/20gal) = (60*20/33)(mi/gal) = (20*20/11)(mi/gal) = 400/11 (mi/gal)

Get out the long division and you get 36.something.

agreed to this solution..same approach..