shankar.ashwin wrote:If a man sold 12 chocolates for $10, he would yield a loss of a%, had he sold the 12 chocolates for $12 he would have gained a% profit. What is the value of 'a'?
A) 11/1100
B) 11/100
C) 100/11
D) 10
E) 11
The distance between the cost and the lower selling price = a% of the cost.
The distance between the cost and the higher selling price = a% of the cost.
Since each selling price is the SAME DISTANCE from the cost, the cost must be HALFWAY BETWEEN the two selling prices:
Cost = $11.
The selling prices are integers.
ALWAYS LOOK AT THE ANSWER CHOICES before you do any math.
Since answer choices A and B are FRACTIONAL percentages, neither will yield integer values for the two selling prices. Eliminate A and B.
Neither D (10% of 11) nor E (11% of 11) will yield integer values for the two selling prices. Eliminate D and E.
The correct answer is
C.
Answer choice C: 100/11 percent = 100/1100 = 1/11.
Loss/profit = (1/11)*11 = 1.
Lower selling price = 11-1 = 10.
Higher selling price = 11+1 = 12.
Success!
For those who favor a more direct approach, given a cost of $11, we can quickly calculate the change in percentage from 11 to 12:
(12-11)/11 * 100 = 100/11.
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