Jennifer can buy watches at a price of B dollars per watch, which she marks up by a certain percentage...

This topic has expert replies
Moderator
Posts: 1991
Joined: 15 Oct 2017
Followed by:6 members

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

Source: Magoosh

Jennifer can buy watches at a price of B dollars per watch, which she marks up by a certain percentage before selling. If she makes a total profit of T by selling N watches, then in terms of B and T and N, what is the percent of the markup from her buy price to her sell price?

A. 100T/(NB)
B. TB/(100N)
C. 100TN/B
D. ((T/N) – B)/(100B)
E. 100(T – NB)/N

The OA is A

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 6362
Joined: 25 Apr 2015
Location: Los Angeles, CA
Thanked: 43 times
Followed by:26 members
BTGmoderatorLU wrote:
Tue Jul 21, 2020 5:21 am
Source: Magoosh

Jennifer can buy watches at a price of B dollars per watch, which she marks up by a certain percentage before selling. If she makes a total profit of T by selling N watches, then in terms of B and T and N, what is the percent of the markup from her buy price to her sell price?

A. 100T/(NB)
B. TB/(100N)
C. 100TN/B
D. ((T/N) – B)/(100B)
E. 100(T – NB)/N

The OA is A
Solution:

If we let m be the markup percentage, we can create the equation:

N * [B(1 + m/100) - B] = T

B + mB/100 - B = T/N

mB/100 = T/N

m = T/N * 100/B = 100T/(NB)

Answer: A

Scott Woodbury-Stewart
Founder and CEO
[email protected]

Image

See why Target Test Prep is rated 5 out of 5 stars on BEAT the GMAT. Read our reviews

ImageImage