GmatKiss wrote:A man sold 20 articles for $60 and gained 20%. How many articles should he sell for $90 to incur a loss 20%?
A. 45
B. 36
C. 40
D. 50
E. 48
Plug in to determine by what fraction the selling price must be reduced to make a 20% loss.
Let cost = 10.
Based upon this cost:
Selling price to make a 20% profit = 12.
Selling price to make a 20% loss = 8.
Thus, the selling price needed to make a 20% loss = 8/12 = 2/3 of the selling price needed to make a 20% profit.
In the problem above:
Selling price per article to make 20% profit = 60/20 = 3.
Thus, to make a 20% loss, selling price per article = (2/3)*3 = 2.
Number of articles sold for $90 at this reduced price = 90/2 = 45.
The correct answer is
A.
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