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Manhattan GMAT Test: Percent

Expert replies
by preciousrain7 » Sun Apr 13, 2008 10:42 am
I am having a hard time understanding the language in the problem.
Thanks in advance!

A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of $45. By how many more dollars does he need to increase the price to achieve a 100% markup?

a. 1
b. 2
c. 3
d. 4
e. 5

answer is: e
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Source: — Problem Solving |

by simplyjat » Sun Apr 13, 2008 10:46 am
mark up is equivalent to increase.
The question says 180%X = 45. What is (200%-180%)X, or what is 20%X?
simplyjat
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by ritz » Sun Apr 13, 2008 1:37 pm
read it actively (start thinking mentally as you read the problem) & you will not have any problem what so ever..

A retailer bought a shirt at wholesale (X) and marked it up 80% (marked it up 80%, i.e. 180X/100)to its initial retail price of $45 (hmm, so that means 180X/100 = 45). By how many more dollars does he need to increase the price to achieve a 100% (what is 200X/100)markup?

Once you read it this way, you will know that you need to find
first, X
Then 2X
& then 1.8X is to be substracted to get the annswer as out of 2X, 1.8X increase has already been done.

Hope this helps.
regards
Ritz
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by preciousrain7 » Sun Apr 13, 2008 1:45 pm
ritz wrote:read it actively (start thinking mentally as you read the problem) & you will not have any problem what so ever..

A retailer bought a shirt at wholesale (X) and marked it up 80% (marked it up 80%, i.e. 180X/100)to its initial retail price of $45 (hmm, so that means 180X/100 = 45). By how many more dollars does he need to increase the price to achieve a 100% (what is 200X/100)markup?

Once you read it this way, you will know that you need to find
first, X
Then 2X
& then 1.8X is to be substracted to get the annswer as out of 2X, 1.8X increase has already been done.

Hope this helps.
regards
Ritz
Thanks! Ill try the technique for future questions!
Join the discussion

by cjiang16 » Wed Apr 16, 2008 5:11 pm
Good solution
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Re: Manhattan GMAT Test: Percent

by netigen » Wed Apr 16, 2008 5:43 pm
preciousrain7 wrote:I am having a hard time understanding the language in the problem.
Thanks in advance!

A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of $45. By how many more dollars does he need to increase the price to achieve a 100% markup?

a. 1
b. 2
c. 3
d. 4
e. 5

answer is: e
I agree with the poster the question is not correctly worded and it should read "marked it up 80% of its initial retail price to $45" otherwise one can easily read the Q as saying that the 80% markup happened on the original price of $45
Join the discussion

Re: Manhattan GMAT Test: Percent

by preciousrain7 » Sat Apr 19, 2008 11:06 am
netigen wrote:
preciousrain7 wrote:I am having a hard time understanding the language in the problem.
Thanks in advance!

A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of $45. By how many more dollars does he need to increase the price to achieve a 100% markup?

a. 1
b. 2
c. 3
d. 4
e. 5

answer is: e
that was my problem too. it confused the hell out of me!

I agree with the poster the question is not correctly worded and it should read "marked it up 80% of its initial retail price to $45" otherwise one can easily read the Q as saying that the 80% markup happened on the original price of $45
Join the discussion