saxenashobhit wrote:A chair store sold a certain chair to a collector for 40%more than the store had originally paid for the chair. When the collector tried to resell the chair to the store, the store bought it back at 60%of what the collector had paid. The shop then sold the chair again at a profit of 75%on its buyback price. If the difference between the chair's original cost to the shop and the amount the collector got from reselling it back to the shop is $176, for how much did the shop sell the chair the second time?
$1,243
$1,439
$1,617
$1,851
$2,025
Kaplan question 10 -
https://www.scribd.com/doc/58999877/GMAT ... et-6-Quant
Let original cost = 100.
Selling price with 40% increase = 140.
Buyback price = .6*140 = 84.
Difference between original cost and buyback price = 100-84 = 16.
Difference is supposed to be 176.
Since 176/16 = 11, all the numbers above must be multiplied by a factor of 11.
Thus, correct buyback price = 11*84 = 924.
Final selling price with 75% increase = (1.75)*924 = 1617.
The correct answer is
C.
Private tutor exclusively for the GMAT and GRE, with over 20 years of experience.
Followed here and elsewhere by over 1900 test-takers.
I have worked with students based in the US, Australia, Taiwan, China, Tajikistan, Kuwait, Saudi Arabia -- a long list of countries.
My students have been admitted to HBS, CBS, Tuck, Yale, Stern, Fuqua -- a long list of top programs.
As a tutor, I don't simply teach you how I would approach problems.
I unlock the best way for YOU to solve problems.
For more information, please email me (Mitch Hunt) at
[email protected].
Student Review #1
Student Review #2
Student Review #3
