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A merchant made a profit of $5 on the sale of a sweater that

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Carcass

Verbal Expert

Joined: 18 Apr 2015

Posts: 21084

A merchant made a profit of $5 on the sale of a sweater that [#permalink]

05 Jan 2017, 02:09

Expert Reply

00:00

Question Stats:

96% (00:32) correct

3% (00:57) wrong

based on 66 sessions

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This question is part of the GRE - PowerPrep® The FREE Practice Tests Explained

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 %

Show: :: OA

33%

challinor99

Intern

Joined: 20 Nov 2016

Posts: 1

Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink]

08 Jan 2017, 13:33

sandy

Retired Moderator

Joined: 07 Jun 2014

Posts: 4805

GRE 1: Q167 V156

WE:Business Development (Energy and Utilities)

Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink]

09 Jan 2017, 13:48

Expert Reply

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%.
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GreenlightTestPrep

GRE Instructor

Joined: 10 Apr 2015

Posts: 5916

Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink]

31 Mar 2019, 07:28

Expert Reply

Carcass wrote:

This question is part of the GRE - PowerPrep® The FREE Practice Tests Explained

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 %

Show: :: OA

33%

PERCENT profit = 100(profit)/(original cost)
= 100($5)/($15)
= 500/15
= 100/3
= 33.33333333333.....

We're asked to enter our response to the NEAREST WHOLE % (i.e., the nearest INTEGER)

Answer: 33

Cheers,
Brent
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Brent Hanneson - founder of Greenlight Test Prep