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Profit and loss

Problem Solving — algebra and arithmetic (GMAT Focus Edition)
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Source: — Quantitative Reasoning |
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by kartikshah » Fri Jul 20, 2012 9:50 am
Let cost price be Rs 100
Profit = 25%
Profit in Rupees will be Rs 25
Therefore selling price is Rs 125.

When CP is Rs 100, SP is Rs 125
What is CP ? when SP is Rs 250

= ( 250 * 100 ) / 125
= Rs 200/-

Therefore if this cycle had been sold for Rs 210, the profit would have been Rs 10/-
Profit % = (10/200) * 100 = 5%

Hope this helps!
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by Brent@GMATPrepNow » Sun Jul 22, 2012 7:05 am
R.k91 wrote:a man sold a cycle for Rs.250 at a profit of 25 percent. What would have bee gained or lost percent, if It had been sold for Rs.210?
Here's another approach:

Let X be the wholesale price of the cycle.
If the profit is 25%, then the retail price of the cycle was X + 0.25X (aka 1.25X)
We're told that the retail price is Rs.250, so we can write the equation 1.25X = 250
Divide both sides of the equation by 1.25 to get X = Rs.200
So, if the cycle sold for Rs.210, the profit would be Rs.10
This represents a 5% profit, since 10/200 = 5/100 = 5%

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Brent
Brent Hanneson - Creator of GMATPrepNow.com
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