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A trader bought a consignment at a purchase price of $800 and sold it
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10 Oct 2023, 23:51
10 Oct 2023, 23:51
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Question Stats:
92% (01:00) correct
7% (01:25) wrong based on 13 sessions
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A trader bought a consignment at a purchase price of $800 and sold it for 20% less than the marked price. If the trader made a profit equivalent to 30% of the purchase price, what was the marked price of the consignment?
(A) $1,000
(B) $1,200
(C) $1,300
(D) $1,350
(E) $1,500
(A) $1,000
(B) $1,200
(C) $1,300
(D) $1,350
(E) $1,500
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Re: A trader bought a consignment at a purchase price of $800 and sold it
[#permalink]
11 Oct 2023, 02:10
11 Oct 2023, 02:10
1
Purchase price =800
Marked up price =x
Profit =30% of purchase price
Profit =Revenue - Expense
0.3(800)=0.8x - 800
240+800 =0.8x
x =1040/0.8
x =1300
Marked up price =x
Profit =30% of purchase price
Profit =Revenue - Expense
0.3(800)=0.8x - 800
240+800 =0.8x
x =1040/0.8
x =1300
gmatclubot
Re: A trader bought a consignment at a purchase price of $800 and sold it [#permalink]
11 Oct 2023, 02:10
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