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Register now and save up to $200 Available with Beat the GMAT members only code • Free Practice Test & Review How would you score if you took the GMAT Available with Beat the GMAT members only code • Magoosh Study with Magoosh GMAT prep Available with Beat the GMAT members only code • Get 300+ Practice Questions 25 Video lessons and 6 Webinars for FREE Available with Beat the GMAT members only code • 5 Day FREE Trial Study Smarter, Not Harder Available with Beat the GMAT members only code • Free Trial & Practice Exam BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • 5-Day Free Trial 5-day free, full-access trial TTP Quant Available with Beat the GMAT members only code • Most awarded test prep in the world Now free for 30 days Available with Beat the GMAT members only code ## PS Questions - Help This topic has 2 member replies f2001290 Master | Next Rank: 500 Posts Joined 10 Mar 2007 Posted: 400 messages Followed by: 1 members Upvotes: 1 #### PS Questions - Help Sun Mar 25, 2007 3:02 am 1. A merchant purchased a jacket for$60 and then determined a selling price that equalled the purchase price of the jacket plus a markup that was 25 percent of the selling price. During a sale, the merchant discounted the selling price by 20 percent and sold the jacket. What was the merchant's gross profit on this sale?
(A) $0 (B)$3
(C) $4 (D)$12
(E) $15 2. Four cups of milk are to be poured into a 2-cup bottle and a 4-cup bottle. If each bottle is to be filled to the same fraction of its capacity, how many cups of milk should be poured into the 4-cup bottle? (A) 2/3 (B) 7/3 (C) 5/2 (D) 8/3 (E) 3 3. On July 1, 1982, Ms. Fox deposited$10,000 in a new account at the annual interest rate of 12 percent compounded monthly. If no addi¬tional deposits or withdrawals were made and if interest was credited on the last day of each month, what was the amount of money in the account on September 1, 1982?
(A) $10,200 (B)$10,201
(C) $11,100 (D)$12,100
(E) \$12,544

dsuna Junior | Next Rank: 30 Posts
Joined
17 Mar 2007
Posted:
14 messages
Mon Mar 26, 2007 8:23 am
I think for the first problem the text says "markup that was 25 percent of the selling price" not from the merchant price.

jayhawk2001 Community Manager
Joined
28 Jan 2007
Posted:
789 messages
Followed by:
1 members
30
Sun Mar 25, 2007 10:04 am
1) selling price = 60 + .25*60 = 75.
Final price after discount = .8 * 75 = 60
Gross profit = 0

2) Let x be the fraction that each cup needs to be filled to
2x + 4x = 4
x = 2/3

3) Interest for first month = 10,000 * 12/100 * 1/12 = 100
Amount as of Aug 1 = 10000 + 100 = 10100

Interest for second month = 10100 * 12/100 * 1/12 = 101
Amount as of Sep 1 = 10100 + 101 = 10201

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