GRE Prep Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
A retailer sold toys at a regular selling price of 25%
[#permalink]
27 May 2018, 03:48
27 May 2018, 03:48
1
Expert Reply
1
Bookmarks
00:00
Question Stats:
57% (01:17) correct
42% (01:35) wrong based on 63 sessions
Hide Show timer Statistics
A retailer sold toys at a regular selling price of 25% greater than the retailer’s cost to buy the toys. If the retailer reduces the regular selling price by 80%, what is then the loss on each toy sold as a percent of the retailer’s cost?
(A) 25%
(B) 30%
(C) 40%
(D) 75%
(E) 80%
(A) 25%
(B) 30%
(C) 40%
(D) 75%
(E) 80%
Re: A retailer sold toys at a regular selling price of 25%
[#permalink]
27 May 2018, 12:53
27 May 2018, 12:53
1
Expert Reply
Explanation
For problems that ask for percents and use no real numbers, it is almost always possible to use 100 as a starting number.
Suppose the retailer buys each toy for $100, and thus sells it for a regular price of $125.
A reduction of this regular selling price by 80% drops the price to $25. The loss on each toy sold as a percent of the retailer’s cost is:
\(\frac{100-25}{100 \times 100}=75%\)
Hence option D is correct!
For problems that ask for percents and use no real numbers, it is almost always possible to use 100 as a starting number.
Suppose the retailer buys each toy for $100, and thus sells it for a regular price of $125.
A reduction of this regular selling price by 80% drops the price to $25. The loss on each toy sold as a percent of the retailer’s cost is:
\(\frac{100-25}{100 \times 100}=75%\)
Hence option D is correct!
Re: A retailer sold toys at a regular selling price of 25%
[#permalink]
15 Jul 2025, 04:50
15 Jul 2025, 04:50
Hello from the GRE Prep Club BumpBot!
Thanks to another GRE Prep Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
Thanks to another GRE Prep Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
