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GMAT Avengers Study Group Practice Question - Percentage

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GMAT Avengers Study Group Practice Question - Percentage

by helen.xia@mbawatch » Sun Sep 22, 2013 9:33 am
FOR GMAT AVENGERS STUDY GROUP PARTICIPANTS - NO EXPERT REPLIES NEEDED

A store receives a shipment of the latest Shoot 'Em Up video game. 70% of the games is sold at 30% profit, and the remaining 30% is sold at a loss of 20%. What is the store's percentage gain or loss from the sale of this video game?

a) 10%
b) 15%
c) 20%
d) 25%
e) 30%
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by theCodeToGMAT » Sun Sep 22, 2013 9:41 am
Answer [spoiler][/spoiler]

What is the OA?

Steps to Solution:

Let units=1000
Cost price = 100

PROFIT CASE
UNIT = 700 (70%)
SP = 130 (30%)
Total revenue = 91,000

LOSS CASE
UNIT = 300
SP = 80
Total REVENUE = 24,000

Profit = 91000 + 24000 - 1000x100 = 15000

Percentage profit = 15000/100000 x 100 = 15%
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by GMATGuruNY » Sun Sep 22, 2013 10:05 am
helen.xia@mbawatch wrote:A store receives a shipment of the latest Shoot 'Em Up video game. 70% of the games is sold at 30% profit, and the remaining 30% is sold at a loss of 20%. What is the store's percentage gain or loss from the sale of this video game?

a) 10%
b) 15%
c) 20%
d) 25%
e) 30%
Of every 10 games, 7 yield a 30% profit, while 3 yield a 20% loss.
Average profit per 10 games = (7*30 - 3*20)/10 = 150/10 = 15.

The correct answer is B.
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by ganeshrkamath » Tue Sep 24, 2013 1:09 am
helen.xia@mbawatch wrote:FOR GMAT AVENGERS STUDY GROUP PARTICIPANTS - NO EXPERT REPLIES NEEDED

A store receives a shipment of the latest Shoot 'Em Up video game. 70% of the games is sold at 30% profit, and the remaining 30% is sold at a loss of 20%. What is the store's percentage gain or loss from the sale of this video game?

a) 10%
b) 15%
c) 20%
d) 25%
e) 30%
Let there be 100 games of price $1 each
Total cost price = 100
Total selling price = 70*1.3 + 30*0.8 = 91 + 24 = 115

Profit = 15%
Choose b

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