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A retailer sold an appliance for 30 percent above cost,

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by Jay@ManhattanReview » Tue Oct 08, 2019 9:13 pm
swerve wrote:A retailer sold an appliance for 30 percent above cost, which represented a gross profit of $21.00. For what price did the retailer sell the appliance?

A. $27.30
B. $51.00
C. $63.00
D. $70.00
E. $91.00

The OA is E

Source: GMAT Paper Tests
Say the cost price is $100; thus, profit = 30% of 100 = $30 and the selling price = $130.

Thus, actual selling price = (130/30)*21.00 = $91

The correct answer: E

Hope this helps!

-Jay
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