On selling 144 bicycles, John lost selling price of 6 bicycles. His percentage loss is
A) 4%
B) 6%
C) 8%
D) 10%
A) 4%
B) 6%
C) 8%
D) 10%
Would I be right in saying 6/144 * 100% = 4.17%
Therefore Answer A 4%?
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Or...Mathsbuddy wrote:Would I be right in saying 6/144 * 100% = 4.17%
Therefore Answer A 4%?
144+6 = Original value of all bikes = 150
6/150 * 100% =4% exactly
Therefore Answer A 4%
I reckon it is this latter reason, although the multiple choice would have given the same answer.
Any comments anyone?
-
GMATinsight
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@Mathsbuddy:
The second explanation is correct but the first one is fundamentally wrong.
If we assume that every cycle's Selling price was $1 then the Total revenue earned is $144 and the loss is $6 therefore the Total cost = 144+6 = $150
Therefore, Loss% = [Total S.P.-Total C.P.]*100/Total C.P. = (150-144)*100/150 = 6*100/150 = 4% ANSWER
The second explanation is correct but the first one is fundamentally wrong.
If we assume that every cycle's Selling price was $1 then the Total revenue earned is $144 and the loss is $6 therefore the Total cost = 144+6 = $150
Therefore, Loss% = [Total S.P.-Total C.P.]*100/Total C.P. = (150-144)*100/150 = 6*100/150 = 4% ANSWER
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-
GMATinsight
- Legendary Member
- Posts: 1100
- Location: New Delhi, India
- Thanked: 205 times
@Mathsbuddy:
The second explanation is correct but the first one is fundamentally wrong.
If we assume that every cycle's Selling price was $1 then the Total revenue earned is $144 and the loss is $6 therefore the Total cost = 144+6 = $150
Therefore, Loss% = [Total S.P.-Total C.P.]*100/Total C.P. = (150-144)*100/150 = 6*100/150 = 4% ANSWER[/quote]
The second explanation is correct but the first one is fundamentally wrong.
If we assume that every cycle's Selling price was $1 then the Total revenue earned is $144 and the loss is $6 therefore the Total cost = 144+6 = $150
Therefore, Loss% = [Total S.P.-Total C.P.]*100/Total C.P. = (150-144)*100/150 = 6*100/150 = 4% ANSWER[/quote]
"GMATinsight"Bhoopendra Singh & Sushma Jha
Most Comprehensive and Affordable Video Course 2000+ CONCEPT Videos and Video Solutions
Whatsapp/Mobile: +91-9999687183 l [email protected]
Contact for One-on-One FREE ONLINE DEMO Class Call/e-mail
Most Efficient and affordable One-On-One Private tutoring fee - US$40-50 per hour
Most Comprehensive and Affordable Video Course 2000+ CONCEPT Videos and Video Solutions
Whatsapp/Mobile: +91-9999687183 l [email protected]
Contact for One-on-One FREE ONLINE DEMO Class Call/e-mail
Most Efficient and affordable One-On-One Private tutoring fee - US$40-50 per hour
