It is currently 22 Sep 2018, 08:56

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: Director Joined: 16 May 2014 Posts: 596 GRE 1: Q165 V161 Followers: 86 Kudos [?]: 423 [0], given: 64 A merchant made a profit of$5 on the sale of a sweater that [#permalink]  29 May 2014, 04:31
Expert's post
00:00

Question Stats:

100% (00:25) correct 0% (00:00) wrong based on 1 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 a percent of the merchant's cost?

_____________ %

OA:
[Reveal] Spoiler:
33% (or equivalent).

_________________

My GRE Resources
Free GRE resources | GRE Prep Club Quant Tests
If you find this post helpful, please press the kudos button to let me know !

Director
Joined: 16 May 2014
Posts: 596
GRE 1: Q165 V161
Followers: 86

Kudos [?]: 423 [0], given: 64

Re: Practice Question #4 [#permalink]  29 May 2014, 04:35
Expert's post
The percent profit is 5/15*100=33.333 % percent, which is 33%, to the nearest whole percent. Thus, the correct answer is 33% (or equivalent).

Traps

1)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).

2)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%.
_________________

My GRE Resources
Free GRE resources | GRE Prep Club Quant Tests
If you find this post helpful, please press the kudos button to let me know !

Re: Practice Question #4   [#permalink] 29 May 2014, 04:35
Display posts from previous: Sort by