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Word Problem - Profit/Loss

sukhman: Master | Next Rank: 500 Posts; Posts: 202; Joined: Sun Sep 08, 2013 11:51 am; Thanked: 3 times; Followed by:2 members

by sukhman » Fri Oct 18, 2013 10:11 pm

By selling 12 pens a shopkeeper recovers cost price of 20 pens . Find the profit percentage ?

Last edited by sukhman on Fri Oct 18, 2013 10:52 pm, edited 1 time in total.

Source: Beat The GMAT — Problem Solving | Fri Oct 18, 2013 10:11 pm

theCodeToGMAT: Legendary Member; Posts: 1556; Joined: Tue Aug 14, 2012 11:18 pm; Thanked: 448 times; Followed by:34 members; GMAT Score:650

by theCodeToGMAT » Fri Oct 18, 2013 10:44 pm

20(CP) = 12(CP + x)
20CP - 12Cp = 12x
8CP = 12x
x/CP = 2/3 = 66%

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