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

Redeem

Profit and loss

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
Newbie | Next Rank: 10 Posts
Posts: 8
Joined: Sat Jun 02, 2012 12:09 am

Profit and loss

by R.k91 » Sat Jul 21, 2012 12:15 am
Zahid sells a watch to Abrar at a gain of 10% and Abrar sells it to Suhail at a gain of 5%. If suhail has to pay Rs.462 for it, the cost price of the watch for Zahid is???/
Top
Source: — Problem Solving |
User avatar
Master | Next Rank: 500 Posts
Posts: 210
Joined: Thu Mar 08, 2012 11:24 pm
Thanked: 62 times
Followed by:3 members

by niketdoshi123 » Sat Jul 21, 2012 1:05 am
R.k91 wrote:Zahid sells a watch to Abrar at a gain of 10% and Abrar sells it to Suhail at a gain of 5%. If suhail has to pay Rs.462 for it, the cost price of the watch for Zahid is???/
Let the cost price of the watch for Zahid be x
Zahid sells the watch to Abrar at 10% profit = 1.10*x
Abrar sells the watch to Suhail at 5% profit = 1.05*1.10x = 462
=> x = 462/(1.05*1.10) = 400
Top

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3835
Joined: Fri Apr 02, 2010 10:00 pm
Location: Milpitas, CA
Thanked: 1854 times
Followed by:523 members
GMAT Score:770

by Anurag@Gurome » Sat Jul 21, 2012 2:48 am
R.k91 wrote:Zahid sells a watch to Abrar at a gain of 10% and Abrar sells it to Suhail at a gain of 5%. If suhail has to pay Rs.462 for it, the cost price of the watch for Zahid is???/
Let us assume cost price of the watch for Zahid is Rs. 100P
Hence, cost price for Abrar = (100P + 10% of 100P) = (100P + 10P) = 110P
Hence, cost price for Suhail = (110P + 5% of 110P) = (110P + 5.5P) = 115.5P

So, 115.5P = 462
--> 100P = 100*462/115.5 = (1000*462)/(11*105) = (1000*42)/105 = (1000*2)/5 = 200*2 = 400
Anurag Mairal, Ph.D., MBA
GMAT Expert, Admissions and Career Guidance
Gurome, Inc.
1-800-566-4043 (USA)

Join Our Facebook Groups
GMAT with Gurome
https://www.facebook.com/groups/272466352793633/
Admissions with Gurome
https://www.facebook.com/groups/461459690536574/
Career Advising with Gurome
https://www.facebook.com/groups/360435787349781/
Top
Post new topic Post Reply
• Page 1 of 1