gross profit

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sethn23: Junior | Next Rank: 30 Posts; Posts: 14; Joined: Wed Oct 01, 2008 5:59 pm

by sethn23 » Wed Oct 01, 2008 6:13 pm

Why this is giving me such a hard time I do not know but anyway here goes...

A retailer sold an appliance for 80$. The retailer's gross profit was 25% of the retailer's cost for the appliance. What was the retailers gross profit?

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Source: Beat The GMAT — Problem Solving | Wed Oct 01, 2008 6:13 pm

cramya: Legendary Member; Posts: 2467; Joined: Thu Aug 28, 2008 6:14 pmFollowed by: 11 members; Thanked: 331 times

by cramya » Wed Oct 01, 2008 6:46 pm

Let x be the cost price

125% of x = 80
x = 64

Check:

25% of 64 is 16 so 64+16 = 80)

Hope this helps

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sethn23: Junior | Next Rank: 30 Posts; Posts: 14; Joined: Wed Oct 01, 2008 5:59 pm

by sethn23 » Wed Oct 01, 2008 6:49 pm

ok sorry about that goof, i had mental freeze at gross profit. thanks

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cramya: Legendary Member; Posts: 2467; Joined: Thu Aug 28, 2008 6:14 pmFollowed by: 11 members; Thanked: 331 times

by cramya » Wed Oct 01, 2008 6:55 pm

We all have that at some point of time! Good Luck!

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cat er ina: Junior | Next Rank: 30 Posts; Posts: 23; Joined: Sat Feb 13, 2010 1:36 pm

by cat er ina » Sun Apr 25, 2010 10:26 am

cramya wrote:Let x be the cost price

125% of x = 80
x = 64

Check:

25% of 64 is 16 so 64+16 = 80)

Hope this helps

one thing i don t get is why 125% of 80? where do you get that from?

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frank1: Legendary Member; Posts: 537; Joined: Fri Jan 22, 2010 10:06 pmFollowed by: 1 member; Thanked: 14 times

by frank1 » Sun Apr 25, 2010 10:56 am

ans is 16 and easist of the lot i have seen so far in this forum....lol

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cat er ina: Junior | Next Rank: 30 Posts; Posts: 23; Joined: Sat Feb 13, 2010 1:36 pm

by cat er ina » Sun Apr 25, 2010 11:06 am

frank1 wrote:ans is 16 and easist of the lot i have seen so far in this forum....lol

really helpful of u

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