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 watch is sold at a profit of 20%. If both
[#permalink]
Updated on: 22 Oct 2020, 07:20
Updated on: 22 Oct 2020, 07:20
1
Bookmarks
00:00
Question Stats:
87% (04:29) correct
12% (07:37) wrong based on 8 sessions
Hide Show timer Statistics
A watch is sold at a profit of 20%. If both the cost and selling price of the watch decreased by 100, the profit would be 5% more. Original cost price if the watch is ?
A. 450
B. 500
C. 550
D. 600
Missing ONE answer choice
A. 450
B. 500
C. 550
D. 600
Missing ONE answer choice
Re: Profit and loss : word problems
[#permalink]
21 Oct 2020, 21:17
21 Oct 2020, 21:17
Expert Reply
The question is incomplete. Please provide fully OAs
Re: Profit and loss : word problems
[#permalink]
22 Oct 2020, 07:08
22 Oct 2020, 07:08
1
sarker33 wrote:
A watch is sold at a profit of 20%. If both the cost and selling price of the watch decreased by 100, the profit would be 5% more. Original cost price if the watch is ?
A. 450 B. 500 C. 550 D. 600
A. 450 B. 500 C. 550 D. 600
I am not sure, but the question seems a little awkward to me. Here is how I solved it:
20% profit means: (P-C)/C=0.2. Hence, P=1.2C.
If both P and C decreases 100, assuming that the new profit will be 25%, we have:
(P-100-(C-100))/(C-100)=0.25 which is equivalent to: (P-C)/(C-100)=0.25.
Substitute P with 1.2C, then: 0.2C=0.25*(C-100). Solve for C: C=500.
Answer is B
