It is currently 26 Jul 2017, 16:37

### GMAT 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

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# A merchant made a profit of $5 on the sale of a sweater that  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Moderator Joined: 18 Apr 2015 Posts: 1705 Followers: 23 Kudos [?]: 227 [0], given: 1016 A merchant made a profit of$5 on the sale of a sweater that [#permalink]  05 Jan 2017, 02:09
Expert's post
00:00

Difficulty:

5% (low)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

A merchant made a profit of $5 on the sale of a sweater that cost the merchant$15. What is the profit expressed as % of the merchant's cost ?

Give your answer to the nearest whole %

[Reveal] Spoiler: OA
33%

_________________
Intern
Joined: 20 Nov 2016
Posts: 1
Followers: 0

Kudos [?]: 1 [1] , given: 0

Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink] 08 Jan 2017, 13:33 1 This post received KUDOS 33 SVP Joined: 07 Jun 2014 Posts: 1770 GRE 1: 323 Q167 V156 WE: Business Development (Energy and Utilities) Followers: 38 Kudos [?]: 594 [1] , given: 118 Re: A merchant made a profit of$5 on the sale of a sweater that [#permalink]  09 Jan 2017, 13:48
1
KUDOS
Expert's post
Explanation

The percent profit is (\frac{5}{15}) \times 100, which equals 33.333.., which equals 33.33333... . percent, which is 33%, to the nearest whole percent. Thus, the correct answer is 33% (or equivalent).

If you use the calculator and the Transfer Display button, the number that will be transferred to the answer box is 33.333333, which is incorrect since it is not given to the nearest whole percent. You will need to adjust the number in the answer box by deleting all of the digits to the right of the decimal point (using the Backspace key).

Also, since you are asked to give the answer as a percent, the decimal equivalent of 33 percent, which is 0.33, is incorrect. The percent symbol next to the answer box indicates that the form of the answer must be a percent. Entering 0.33 in the box would give the erroneous answer 0.33%.

_________________

Sandy
If you found this post useful, please let me know by pressing the Kudos Button

Try our free Online GRE Test

Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink] 09 Jan 2017, 13:48 Display posts from previous: Sort by # A merchant made a profit of$5 on the sale of a sweater that

 Question banks Downloads My Bookmarks Reviews Important topics

 Powered by phpBB © phpBB Group and phpBB SEO Kindly note that the GRE® test is a registered trademark of the Educational Testing Service®, and this site has neither been reviewed nor endorsed by ETS®.