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Neel is a distributor and Nick is a retailer. Neel purchased
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15 May 2019, 05:39
15 May 2019, 05:39
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Neel is a distributor and Nick is a retailer. Neel purchased electronic shavers of a particular type at $4 a piece and sold all of them to Nick at $6 a piece.
Nick sold all the shavers at $8 a piece to consumers.
The percentage of profit is defined as profit/cost * 100
A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given.
Nick sold all the shavers at $8 a piece to consumers.
The percentage of profit is defined as profit/cost * 100
Quantity A |
Quantity B |
The percentage of profit that Neel made in the deal |
The percentage of profit that Nick made in the deal |
A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given.
GRE Prep Club Tests Editor
Joined: 13 May 2019
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Posts: 186
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Location: United States
GMAT 1: 770 Q51 V44
GRE 1: Q169 V168
WE:Education (Education)
Re: Neel is a distributor and Nick is a retailer. Neel purchased
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15 May 2019, 11:27
15 May 2019, 11:27
1
Expert Reply
Quote:
Neel is a distributor and Nick is a retailer. Neel purchased electronic shavers of a particular type at $4 a piece and sold all of them to Nick at $6 a piece.
Nick sold all the shavers at $8 a piece to consumers.
The percentage of profit is defined as profit/cost * 100
Nick sold all the shavers at $8 a piece to consumers.
The percentage of profit is defined as profit/cost * 100
Quantity A |
Quantity B |
The percentage of profit that Neel made in the deal |
The percentage of profit that Nick made in the deal |
The most efficient method for any Quantitative Comparison is to approach the information mathematically, so simply complete the algebra for both quantities.
Quantity A: Neel profit = 2 | Neel cost = 4 | Neel percent profit = 2/4 x 100 = 50%
Quantity B: Nick profit = 2 | Nick cost = 6 | Nick percent profit = 2/6 x 100 = 33.33%
Quantity A is greater, so select choice A.
gmatclubot
Re: Neel is a distributor and Nick is a retailer. Neel purchased [#permalink]
15 May 2019, 11:27
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