A
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Hmmm, I've read this question several times and still have no idea what it's asking.coolhabhi wrote:If the selling price of an article is doubled, then it's loss percent is converted into equal profit percent. The loss percent on the article is
A) 26.66%
B) 33%
C) 33.33%
D) 34%
I took that out in the interests of diplomacy - maybe the guy who wrote this question will one day be my student, or my boss, or whatever ... and maybe he doesn't care for Lewis Carroll.Brent@GMATPrepNow wrote:Ahhhhh!
BTW, I loved the Lewis Carroll reference in your original response
So, I guess the answer is "none of the above," since 33 1/3% is not among the answer choices
Cheers,
Brent
We can PLUG IN THE ANSWERS, which represent the value of x.Because of a clerical error, a shirt was marked with a selling price that was x% less than the cost price of the shirt. After the error was discovered, the selling price of the shirt was doubled, with the result that the corrected selling price was x% greater than the cost price of the shirt. What is the value of x?
12.5 %
25%
33 1/3%
40%
50%
Loss percent is defined as (loss/cost price) × 100% and profit percent is defined as (profit/cost price) x 100%. We can assume that if the article is sold at its original selling price, a loss will incur (even though the problem didn't clearly mention it). However, if the article is sold at double of its original selling price, a profit will incur. Thus let's let s = the original selling price and c = the cost price. Therefore, the loss = c - s if the article is sold at price s and the profit = 2s - c if the article is sold at price 2s. Since we are given that the loss percent = the profit percent, We can create the following equation:coolhabhi wrote:If the selling price of an article is doubled, then it's loss percent is converted into equal profit percent. The loss percent on the article is
A) 26.66%
B) 33%
C) 33.33%
D) 34%
The first statement rendered to make X positive:Matt@VeritasPrep wrote:Yup, Mitch, I think you've got it! The confusing thing about "loss percent" in that definition I found is that it's treated as a positive value even though it isn't actually positive.
For anyone out there who wants more practice, the spirit of this problem reminds me of this (hellacious) problem from an old American High School Math Exam:
An article costing C dollars is sold for $100 at a loss of x percent of the selling price. It is then resold at a profit of x percent of the new selling price S. If the difference between S and C is $1.11..., then x is
A:: Undetermined
B:: 80/9
C:: 10
D:: 95/9
E:: 100/9
