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

Redeem
TTP OnDemand GMAT Video Course
Featured Course

Target Test Prep GMAT OnDemand

Scott Woodbury-Stewart’s private virtual classroom — 400 hours of master-class video lessons for the GMAT Focus Edition.

  • 715+ score guarantee — highest in the industry (99th percentile)
  • 52 chapters · 1,500+ lessons · 4,000+ practice questions
  • 400 hours of video · 1,500+ instructor-led HD smartboard lessons
  • 300,000+ students accepted to Harvard, Stanford, Wharton, Booth & Sloan & more
  • 24/7 live support + weekly Zoom office hours with GMAT instructors
  • TTP AI Assist — 24/7 AI-powered virtual tutor for instant help
  • 1,200+ flashcards + AI-powered study assistant & daily calendar
  • OnDemand, LiveTeach & GMAT Bootcamp formats available
  • Also: GRE, SAT Math & Executive Assessment courses
  • MBA Admissions Consulting now available
  • 🏆 2025 EdTech Breakthrough Award: Test Prep Solution Provider of the Year
  • 200,000+ students served
  • 5-day free trial — $0 to start, no auto-billing, cancel anytime
★★★★★ 5.0 (559 reviews)
130-pt guarantee
$0 to start then $127/mo
Start Free 5-Day Trial Read 559 Reviews →

Selling price

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Master | Next Rank: 500 Posts
Posts: 435
Joined: Wed Nov 16, 2011 7:27 amFollowed by: 16 members
Thanked: 48 times
by alex.gellatly » Thu Jun 28, 2012 9:31 pm
A store's selling price of $2,240 for a certain computer would yield a profit of 40 percent of the store's cost for the computer. What selling price would yield a profit of 50 percent of the computer's cost?

A. $2,400
B. $2,464
C. $2,650
D. $2,732
E. $2.800

Thanks
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3835
Joined: Fri Apr 02, 2010 10:00 pmFollowed by: 523 members
Location: Milpitas, CA
Thanked: 1854 times
GMAT Score:770

by Anurag@Gurome » Thu Jun 28, 2012 9:36 pm
alex.gellatly wrote:A store's selling price of $2,240 for a certain computer would yield a profit of 40 percent of the store's cost for the computer. What selling price would yield a profit of 50 percent of the computer's cost?
Say, cost of the computer = $C
Hence, (C + 40% of C) = 2,240 --> 1.4C = 2240 --> C = 2240/1.4

Now, for 50% profit, selling price should be (C + 50% of C) = 1.5C = 1.5*2240/1.4 = 15*2240/14 = 15*160 = 2400

The correct answer is A.
Anurag Mairal, Ph.D., MBA
GMAT Expert, Admissions and Career Guidance
Gurome, Inc.
1-800-566-4043 (USA)

Join Our Facebook Groups
GMAT with Gurome
https://www.facebook.com/groups/272466352793633/
Admissions with Gurome
https://www.facebook.com/groups/461459690536574/
Career Advising with Gurome
https://www.facebook.com/groups/360435787349781/
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Master | Next Rank: 500 Posts
Posts: 126
Joined: Sun Jun 24, 2012 10:11 amFollowed by: 7 members
Location: Chicago, IL
Thanked: 36 times

by tutorphd » Thu Jun 28, 2012 9:38 pm
Store cost = x
If the profit is 40% then the selling price 2240 = 1.40 x

Whe need to know selling price that is y = 1.50x

Divide the two equations to cancel x that we don't need: y/2240 = 1.50/1.40

y = $2400
Skype / Chicago quant tutor in GMAT / GRE
https://gmat.tutorchicago.org/
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
User avatar
GMAT Instructor
Posts: 15539
Joined: Tue May 25, 2010 12:04 pmFollowed by: 1906 members
Location: New York, NY
Thanked: 13060 times
GMAT Score:790

by GMATGuruNY » Fri Jun 29, 2012 3:46 am
alex.gellatly wrote:A store's selling price of $2,240 for a certain computer would yield a profit of 40 percent of the store's cost for the computer. What selling price would yield a profit of 50 percent of the computer's cost?

A. $2,400
B. $2,464
C. $2,650
D. $2,732
E. $2.800

Thanks
ALWAYS LOOK AT THE ANSWER CHOICES.

To increase the profit by 10%, 10% of the COST must be added to the selling price.
Increasing the SELLING PRICE by 10% = 2240 + 224 = 2464.
Since the cost is LESS than the selling price, adding 10% of the COST to the selling price must yield a value LESS than 2464.

The correct answer is A.
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
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1