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Pinku: Junior | Next Rank: 30 Posts; Posts: 17; Joined: Thu Jul 22, 2010 3:15 pm

by Pinku » Wed Jul 28, 2010 4:21 pm

A merchant made a profit of $5 on the sale of a sweater that cost the merchant $18. What is the
profit expressed as a percent of the merchant's cost?
Give your answer to the nearest tenth of a percent.

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Source: Beat The GMAT — Problem Solving | Wed Jul 28, 2010 4:21 pm

Patrick_GMATFix: GMAT Instructor; Posts: 1052; Joined: Fri May 21, 2010 1:30 amFollowed by: 98 members; Thanked: 335 times

by Patrick_GMATFix » Wed Jul 28, 2010 5:44 pm

Hey Pinku,

What is the source of the question please (is it a GMAT question)? Are there answer choices?

Profit = 5

Merchant's cost = 18.

Profit as a percentage of Merchant's cost = 5/18 = .278 or 27.8%

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Rahul@gurome: GMAT Instructor; Posts: 1179; Joined: Sun Apr 11, 2010 9:07 pmFollowed by: 88 members; Location: Milpitas, CA; Thanked: 447 times

by Rahul@gurome » Wed Jul 28, 2010 5:49 pm

Pinku wrote:A merchant made a profit of $5 on the sale of a sweater that cost the merchant $18. What is the
profit expressed as a percent of the merchant's cost?
Give your answer to the nearest tenth of a percent.

Profit% = (Profit/Cost Price)*100 = (5/18)*100 = 27.7%

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selango: Legendary Member; Posts: 1460; Joined: Tue Dec 29, 2009 1:28 amFollowed by: 7 members; Thanked: 135 times

by selango » Wed Jul 28, 2010 6:26 pm

Pinku this seems like GRE questions?If so this is not the forum to post GRE questions.

--Anand--

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