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The selling price of an exercise bike erepresents a 25%
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09 Aug 2021, 15:36
09 Aug 2021, 15:36
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The selling price of an exercise bike represents a 25% markup from its original cost to the merchant
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
Quantity A |
Quantity B |
The % the markup is of the selling price |
20% |
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
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Joined: 02 Jan 2020
Status:GRE Quant Tutor
Posts: 1131
Given Kudos: 9
Location: India
Concentration: General Management
Schools: XLRI Jamshedpur, India - Class of 2014
GMAT 1: 700 Q51 V31
GPA: 2.8
WE:Engineering (Computer Software)
Re: The selling price of an exercise bike erepresents a 25%
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10 Aug 2021, 09:30
10 Aug 2021, 09:30
1
Let the Cost price(CP) be 100
The selling price of an exercise bike represents a 25% markup from its original cost to the merchant
=> Selling Price, SP = Cost Price + 25% of Cost Price
=> SP = 100 + 25% of 100 = 100 + \(\frac{25}{100}*100\) = 125
=> Markup = SP - CP = 25
Quantity A: The % the markup is of the selling price
\(\frac{Markup}{SP} \)* 100 = \(\frac{25}{125}*100\) = 20%
=> Quantity A = Quantity B
So, Answer will be C
Hope it helps!
The selling price of an exercise bike represents a 25% markup from its original cost to the merchant
=> Selling Price, SP = Cost Price + 25% of Cost Price
=> SP = 100 + 25% of 100 = 100 + \(\frac{25}{100}*100\) = 125
=> Markup = SP - CP = 25
Quantity A: The % the markup is of the selling price
\(\frac{Markup}{SP} \)* 100 = \(\frac{25}{125}*100\) = 20%
=> Quantity A = Quantity B
So, Answer will be C
Hope it helps!
gmatclubot
Re: The selling price of an exercise bike erepresents a 25% [#permalink]
10 Aug 2021, 09:30
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