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 furniture dealer sold two sofas for $400 each, for a 25 percent prof
[#permalink]
15 Feb 2021, 06:55
15 Feb 2021, 06:55
4
Expert Reply
10
Bookmarks
00:00
Question Stats:
35% (01:42) correct
64% (01:12) wrong based on 151 sessions
Hide Show timer Statistics
A furniture dealer sold two sofas for $400 each, for a 25 percent profit on one and a 20 percent loss on the other.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
Quantity A |
Quantity B |
The dealer's net gain |
The dealer's net loss |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
Re: A furniture dealer sold two sofas for $400 each, for a 25 percent prof
[#permalink]
15 Feb 2021, 07:21
15 Feb 2021, 07:21
2
Hi!!
A 25 percent profit:
400---125%
x------100%
As the trader sold the sofa at 25% profit, thus, 400 is 100+25=125% of the Sofa's original price. Cross multiplying it will give us x=320.
Hence the net profit on one sofa is 400-320=80.
A 20 percent loss on the other.
400---80%
y------100%
As the trader sold the other sofa at 20% loss, thus 400=100-20=80% of the sofa's origial price. Cross multiplying it will give us y=500.
Hence the loss on other sofa=500-400=100.
80<100.
Thus Quantity A<Quantity B
Hope this helps!
A 25 percent profit:
400---125%
x------100%
As the trader sold the sofa at 25% profit, thus, 400 is 100+25=125% of the Sofa's original price. Cross multiplying it will give us x=320.
Hence the net profit on one sofa is 400-320=80.
A 20 percent loss on the other.
400---80%
y------100%
As the trader sold the other sofa at 20% loss, thus 400=100-20=80% of the sofa's origial price. Cross multiplying it will give us y=500.
Hence the loss on other sofa=500-400=100.
80<100.
Thus Quantity A<Quantity B
Hope this helps!
Retired Moderator
Joined: 16 Apr 2020
Status:Founder & Quant Trainer
Affiliations: Prepster Education
Posts: 1546
Given Kudos: 172
Location: India
WE:Education (Education)
Re: A furniture dealer sold two sofas for $400 each, for a 25 percent prof
[#permalink]
15 Feb 2021, 07:22
15 Feb 2021, 07:22
1
1
2
Bookmarks
Carcass wrote:
A furniture dealer sold two sofas for $400 each, for a 25 percent profit on one and a 20 percent loss on the other.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Quantity A |
Quantity B |
The dealer's net gain |
The dealer's net loss |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
S.P of Sofa 1 = $400
Profit% = 25
C.P of Sofa 1 = \(\frac{400}{1.25} = $320\)
S.P of Sofa 2 = $400
Loss% = 25
C.P of Sofa 2 = \(\frac{400}{0.80} = $500\)
Total C.P of 2 Sofas = $820
Total S.P of 2 Sofas = $800
Therefore, he incurred a loss. He didn't gain anything.
So, I will go with option B
