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

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Director
Director
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Joined: 16 May 2014
Posts: 597
GRE 1: 326 Q165 V161
Followers: 72

Kudos [?]: 313 [0], given: 64

A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post 29 May 2014, 04:31
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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 a percent of the merchant's cost?

Give your answer to the nearest whole percent.

_____________ %

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

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Director
Director
User avatar
Joined: 16 May 2014
Posts: 597
GRE 1: 326 Q165 V161
Followers: 72

Kudos [?]: 313 [0], given: 64

Re: Practice Question #4 [#permalink] New post 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%.
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Re: Practice Question #4   [#permalink] 29 May 2014, 04:35
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