sukhman wrote:If AJ sells an item at three-fourths of its selling price he incurs a loss of 4% . What will be the profit or loss percentage if he sells it at the actual selling price ?
a)30 b) 28 b) 14 c) 15 e)20
Let the cost price = 100.
A loss of 4% = 100 - (4% of 100) = 100-4 = 96.
Let x = the selling price.
Since the $4 loss occurs if the product is sold at 3/4 of the selling price, we get:
96 = (3/4)x
32 = (1/4)x
x = 128.
Profit at the selling price = (selling price) - (cost price) = 128-100 = 28.
Profit percentage = profit/cost = 28/100 = 28%.
The correct answer is
B.
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
