-modified.png?h=56&w=56&mode=stretch)
Question: The balance of a trader weighs 10% less than it should. Still the trader marks up his goods to get an overall profit of 20%. What is the mark up on the cost price?
- 40%
- 8%
- 25%
- 16.66%
- 9%
Approach Solution (1)
Original cost before weight adjustment: x
Cost after 90% weight adjustment:\({9\over10}x\)
20% profit on\({{9\over10}x}:{({120\over100})}{({9\over10})}(x)or{({108\over100})}x\)
Markup on original cost of x:\({{({108\over100}x)}\over{x-1}}={8\over100}\)
Correct option: B
Cost after 90% weight adjustment:\({9\over10}x\)
20% profit on\({{9\over10}x}:{({120\over100})}{({9\over10})}(x)or{({108\over100})}x\)
Markup on original cost of x:\({{({108\over100}x)}\over{x-1}}={8\over100}\)
Correct option: B
Approach Solution (2)
The most natural way to deal with ‘weights’ questions is by assuming values
Say the trader’s balance shows 100 grams. It is actually 90 grams because it weighs 10% less. Say, the cost price is $90 ($1/gm). Since he gets profit of 20%, the selling price must be
\(90+{({120\over100})}*90=$108\)
Since the cost price is actually supposed to be $100 (for 100 grams) and the selling price is $108, the mark up is simply 8%
Correct option: B
Say the trader’s balance shows 100 grams. It is actually 90 grams because it weighs 10% less. Say, the cost price is $90 ($1/gm). Since he gets profit of 20%, the selling price must be
\(90+{({120\over100})}*90=$108\)
Since the cost price is actually supposed to be $100 (for 100 grams) and the selling price is $108, the mark up is simply 8%
Correct option: B
Approach Solution (3)
Given: The balance of a trader weighs 10% less than it should. Still the trader marks up his goods to get an overall profit of 20%
Asked: What is the mark up on the cost price?
Let the mark up on the cost price be x
\({{1\over0.9}}*(1+x)=1.2\)
\((1+x)=1.2*0.9=1.08\)
\(x =8\%\)
Correct option: B
Asked: What is the mark up on the cost price?
Let the mark up on the cost price be x
\({{1\over0.9}}*(1+x)=1.2\)
\((1+x)=1.2*0.9=1.08\)
\(x =8\%\)
Correct option: B
“The balance of a trader weighs 10% less than it should. Still the trader marks up his goods to get an overall profit of 20%. What is the mark up on the cost price?”- is a topic of the GMAT Quantitative reasoning section of GMAT. This question has been taken from the book “GMAT Official Guide Quantitative Review”. To solve GMAT Problem Solving questions a student must have knowledge about a good amount of qualitative skills. The GMAT Quant topic in the problem-solving part requires calculative mathematical problems that should be solved with proper mathematical knowledge.
Suggested GMAT Problem Solving Samples:
- Find The Altitude Of An Equilateral Triangle Whose Side is 20 GMAT Problem Solving
- Which of the following is the value of √3√0.000064? GMAT Problem Solving
- Two Dice are Thrown Simultaneously. What is the Probability of Getting Two Numbers Whose Product is Even? GMAT Problem Solving
- The Smallest 3-Digit Positive Integer Obtained By Adding Two Positive Two-Digit Numbers GMAT Problem Solving
- Train A Leaves New York at 9am Eastern Time on Monday, Headed for Los Angeles at a Constant Rate GMAT Problem Solving
- An Express Train Traveled At An Average Speed of 100 Kilometers Per Hour GMAT Problem Solving
- If m Lies Between The Integers p and s On the Number Line Shown GMAT Problem Solving
- A Cube Of Side 7 cm Is Coloured On Pair of Opposite Faces By Red, Green and Yellow Shades GMAT Problem Solving
- If x^2 − 5x − 6 = 0, which of the following could be x ? GMAT Problem Solving
- How Many Numbers Between 1 and 1000, Inclusive Have an Odd Number of Factors? GMAT Problem Solving
- GMAT Problem Solving- Given f(x) = x/(x + 1), For What Value k Does f(f(k)) = 2/3 ?
- Which Among the Following is the Smallest 7-digit Number that is Exactly Divisible by 43? GMAT Problem Solving
- During a Trip, Francine Traveled x Percent of the Total Distance at an Average Speed of 40 Miles GMAT Problem Solving
- Which of the Following Expressions CANNOT have a Negative Value? GMAT Problem Solving
- Which of the following is greatest? GMAT Problem Solving
- The Cost Price of 20 Articles is The Same as The Selling Price of x Articles GMAT Problem Solving
- In The Figure Shown, If The Area of The Shaded Region is 3 Times The Area of The Smaller Circular Region GMAT Problem Solving
- A Regular Hexagon has a Perimeter of 30 units GMAT Problem Solving
- All the Numbers 2, 3, 4, 5, 6, 7 are Assigned to the Six Faces of a Cube, One Number to Each Face GMAT Problem Solving
- If it is true that x > -2 and x < 7, which of the following must be true? GMAT Problem Solving
- In a Drawer, There are 4 White Socks, 3 Blue Socks, and 5 Grey Socks GMAT Problem Solving
- There are 100 Apples in a Bag of which 98% are Green and Rest are Red GMAT Problem Solving
- A palindrome is a number that reads the same forward and backward GMAT Problem Solving
- Three Cars Leave From A To B In Equal Time Intervals GMAT Problem Solving
- An Inlet Pipe can Fill in an Empty Cistern in 30 minutes GMAT Problem Solving
- A Zookeeper Counted the Heads of the Animals in a Zoo and Found it to be 80 GMAT Problem Solving
- A Shop Stores x kg of Rice. The First Customer Buys half this Amount Plus half a kg of Rice GMAT Problem Solving
- In a Class of 120 Students Numbered 1 to 120, All Even Numbered Students Opt for Physics GMAT Problem Solving
- Machine A Produces bolts at a Uniform Rate of 120 Every 40 seconds GMAT Problem Solving
- Out of 7 Consonants and 4 Vowels, How Many Words of 3 Consonants and 2 Vowels Can be Formed? GMAT Problem Solving
- 4 Bells Toll Together at 9:00 A.M. They Toll After 7, 8, 11 and 12 Seconds GMAT Problem Solving
- 12 Marbles are Selected at Random from a Large Collection of White, Red, Green and Yellow Marbles GMAT Problem Solving
- Find the greatest number that will divide 43, 91 and 183 GMAT Problem Solving
- Of the 150 Houses in a Certain Development GMAT Problem Solving
- A man can hit a target once in 4 shots. If he fires 4 shots in succession GMAT Problem Solving
- If 75 Percent of a Class Answered the First Question on a Certain Test Correctly GMAT Problem Solving
- A Clock Strikes 4 taking 9 seconds. GMAT Problem Solving
- What is the Largest Power of 3 Contained in 200! GMAT Problem Solving
- Find The Value Of x GMAT Problem Solving
- GMAT Problem Solving - Which of the following expressions has the greatest values?
- GMAT Problem Solving – If @ x=x^2/2x^2-2 , What is the Units Digit of @ (@4)?
- GMAT Problem Solving – What is the product of all possible solutions of the equation |x+2|- 5|x+2| = -6?
- GMAT Problem Solving – Metropolis Corporation has 4 Shareholders
- GMAT Problem Solving – What is the number of integers from 1 to 1000, inclusive that are not divisible by 11 or by 35?
- GMAT Problem Solving – If m is Three Times n, and if 2n + 3 is 20% of 25, What is the value of m?
- GMAT Problem Solving – If Ben Were to Lose the Championship, Mike would be the Winner
- GMAT Problem Solving – A Train Travelling at a Certain Constant Speed takes 30 seconds
- GMAT Problem Solving – A conference room is equipped with a total of 45 metal or wooden chairs.
- GMAT Problem Solving – A welder received an order to make a 1 million litre cube-shaped tank.
- GMAT Problem Solving – After 6 games, Team B had an average of 61.5 points per game.
Comments