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

Redeem

shopkeeper fixes

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
GMAT Instructor
Posts: 3650
Joined: Wed Jan 21, 2009 4:27 am
Location: India
Thanked: 267 times
Followed by:80 members
GMAT Score:760

shopkeeper fixes

by sanju09 » Thu Apr 02, 2009 3:51 am
A shopkeeper fixes the marked price of a commodity 30 percent above its cost price. What percent of discount should he allow on the marked price so that he still gains 25 percent on selling it?
A. 5
B. 15/2
C. 50/3
D. 50/13
E. 25/13
The mind is everything. What you think you become. -Lord Buddha



Sanjeev K Saxena
Quantitative Instructor
The Princeton Review - Manya Abroad
Lucknow-226001

www.manyagroup.com
Top
Source: — Problem Solving |
Legendary Member
Posts: 1035
Joined: Wed Aug 27, 2008 10:56 pm
Thanked: 104 times
Followed by:1 members

by scoobydooby » Thu Apr 02, 2009 4:00 am
let CP be 100, so MP=130. SP=125 (25% profit)
discount always calculated on MP
so discount %: 125-130/130*100=50/130

hence D
Top
Legendary Member
Posts: 621
Joined: Wed Apr 09, 2008 7:13 pm
Thanked: 33 times
Followed by:4 members

Re: shopkeeper fixes

by vittalgmat » Thu Apr 02, 2009 1:36 pm
sanju09 wrote:A shopkeeper fixes the marked price of a commodity 30 percent above its cost price. What percent of discount should he allow on the marked price so that he still gains 25 percent on selling it?
A. 5
B. 15/2
C. 50/3
D. 50/13
E. 25/13
Sanju
I think D should be 50/130.

coz (125-130)/130 *100 = 50/130.

can u pls check ?

thanks
Top
User avatar
MBA Student
Posts: 1194
Joined: Sat Aug 16, 2008 9:42 pm
Location: Paris, France
Thanked: 71 times
Followed by:17 members
GMAT Score:710

by gmat740 » Thu Apr 02, 2009 5:00 pm
CP = x

MP = 1.3x

Let the Discount Be D %

Since profit has to be 25%

So Selling price SP = 1.25x

Discount offered = d% of 1.3x

Also SP after discount is (1.3x- 1.3x*d/100)

1.25x = (1.3x- 1.3x*d/100)

0.05x =( 1.3x)* d/100

d= 50/13

So answer is D

Always solve Questions by fundamental methods,break down the problem into its basic form because during the time of exam, you may forget the formulas.


Karan
Top
Post new topic Post Reply
• Page 1 of 1