BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Gmat Prep: Profit / Loss & Rate

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Source: — Problem Solving |
Senior | Next Rank: 100 Posts
Posts: 48
Joined: Thu Dec 04, 2008 12:27 pm
Thanked: 1 times

by exhilaration » Sun May 31, 2009 5:22 pm
#1)

Profit: 1.2x = 96, so x = 16 profit
Loss: .8x = 96, x = 120 so 120 - 96 = 24 Loss

Net Loss = 24 - 16 = $8 Loss
Top
Master | Next Rank: 500 Posts
Posts: 487
Joined: Fri Mar 27, 2009 5:49 am
Thanked: 36 times

Re: Gmat Prep: Profit / Loss & Rate

by dtweah » Sun May 31, 2009 5:22 pm
exhilaration wrote:Once again, if someone can provide a solution that would be great!
SP-CP= Profit

Percent Profit= (SP-CP)/CP=1/5

Percent Loss = (CP-SP)/CP=1/5

SP-CP=CP/5
96=6CP/5
CP=80


CP-96=CP/5
4CP/5=96
CP=120

Combined 96 x 2 -(120+80)=-$8.00
Top
Senior | Next Rank: 100 Posts
Posts: 48
Joined: Thu Dec 04, 2008 12:27 pm
Thanked: 1 times

Re: Gmat Prep: Profit / Loss & Rate

by exhilaration » Sun May 31, 2009 5:37 pm
dtweah wrote:
exhilaration wrote:Once again, if someone can provide a solution that would be great!
SP-CP= Profit

Percent Profit= (SP-CP)/CP=1/5

Percent Loss = (CP-SP)/CP=1/5

SP-CP=CP/5
96=6CP/5
CP=80


CP-96=CP/5
4CP/5=96
CP=120

Combined 96 x 2 -(120+80)=-$8.00
Sounds good, but what about the second question?

I was thinking that the answer to it was....

10/25 = 2/5 + 50/40 = 1.65 gallons

60/1.65 = 36.xxx

Thanks!
Top
Master | Next Rank: 500 Posts
Posts: 103
Joined: Mon May 18, 2009 9:47 am
Thanked: 19 times

by raleigh » Sun May 31, 2009 5:53 pm
Second problem: average miles per gallon is total miles traveled / total gallons consumed.

We have 10 miles in the city, and 50 miles on the highway so the numerator is 60.

How many gallons are consumed in the 10 miles in the city?10mi*(1gal/25mi) = 10/25 gal = 2/5 gal.

How many gallons are consumed in the 50 miles on the highway? 50 mi * (1gal/40mi) = 50/40 gal = 5/4 gal.

So the average is 60 miles /( 2/5gal + 5/4gal) = 60/(8/20gal + 25/20gal) = 60mi/(33/20gal) = (60*20/33)(mi/gal) = (20*20/11)(mi/gal) = 400/11 (mi/gal)

Get out the long division and you get 36.something.
Top
Master | Next Rank: 500 Posts
Posts: 148
Joined: Wed Jun 03, 2009 8:04 pm
Thanked: 18 times
Followed by:1 members

by ghacker » Wed Jun 03, 2009 9:10 pm
Question 1

$96 can be broken down in to two parts I a 20% loss and II a20% profit

20% loss = 4/5 the original price loss(original price) = $120
20% profit =6/5 the original cost profit(original price) = $80

money spent on purchases = $(120+80) = $200

money received by the sale = $(96+96) = $192

Hence there is a loss of $ 8
Top
Junior | Next Rank: 30 Posts
Posts: 22
Joined: Fri Mar 06, 2009 3:36 pm

by muna_m » Thu Jun 04, 2009 12:27 pm
For the second question - I get 36 too and raleigh has explained it well.

But wondering what is the OA? I see 28 marked on the attachment!
Top
Master | Next Rank: 500 Posts
Posts: 103
Joined: Mon May 18, 2009 9:47 am
Thanked: 19 times

by raleigh » Thu Jun 04, 2009 2:16 pm
The marked answer is the answer he chose. When you verify the answer, the CAT puts a blue box around the choice. The OA isn't given for the second question.
Top
Legendary Member
Posts: 876
Joined: Thu Apr 10, 2008 8:14 am
Thanked: 13 times

by ketkoag » Sat Jun 06, 2009 6:52 am
raleigh wrote:Second problem: average miles per gallon is total miles traveled / total gallons consumed.

We have 10 miles in the city, and 50 miles on the highway so the numerator is 60.

How many gallons are consumed in the 10 miles in the city?10mi*(1gal/25mi) = 10/25 gal = 2/5 gal.

How many gallons are consumed in the 50 miles on the highway? 50 mi * (1gal/40mi) = 50/40 gal = 5/4 gal.

So the average is 60 miles /( 2/5gal + 5/4gal) = 60/(8/20gal + 25/20gal) = 60mi/(33/20gal) = (60*20/33)(mi/gal) = (20*20/11)(mi/gal) = 400/11 (mi/gal)

Get out the long division and you get 36.something.
agreed to this solution..same approach..
Top
Post new topic Post Reply
• Page 1 of 1