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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: 18273
GRE 1: Q160 V160
A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post  05 Jan 2017, 02:09
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00:00

Question Stats:

96% (00:32) correct 3% (00:57) wrong based on 58 sessions

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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%

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challinor99
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Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post  08 Jan 2017, 13:33
1
33
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sandy
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Joined: 07 Jun 2014
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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] New post  09 Jan 2017, 13:48
1
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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
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Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post  31 Mar 2019, 07:28
1
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Carcass wrote:


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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