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During a sale, the local outlet of the Chasm sold three time

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GMAT Club Legend
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During a sale, the local outlet of the Chasm sold three time [#permalink] New post 14 Jun 2018, 14:16
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Question Stats:

60% (01:33) correct 40% (00:00) wrong based on 5 sessions
During a sale, the local outlet of the Chasm sold three times as many jeans as chinos. If they made twice as much profit for a pair of chinos as for a pair of jeans, and sold no other items, what percent of their profits during the sale came from chinos?

(A) \(16 \frac{2}{3}\) %
(B) \(20\)%
(C) \(40\)%
(D) \(60\)%
(E) \(83 \frac{1}{3}\)%
[Reveal] Spoiler: OA

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Re: During a sale, the local outlet of the Chasm sold three time [#permalink] New post 03 Jul 2018, 05:53
sandy wrote:
During a sale, the local outlet of the Chasm sold three times as many jeans as chinos. If they made twice as much profit for a pair of chinos as for a pair of jeans, and sold no other items, what percent of their profits during the sale came from chinos?

(A) \(16 \frac{2}{3}\) %
(B) \(20\)%
(C) \(40\)%
(D) \(60\)%
(E) \(83 \frac{1}{3}\)%



Here ;
Let the no. of chinos sold = 10

Therefore no. of jeans sold = 3 * no. of chinos = 30

Let profit from 1 pair of jeans = $1

therefore for 30 jeans, profit = $30

and the profit for a pair of chinos = 2 * profit of jeans = 2* 1 = $2

therefore for 10 chinos, profit = $20

Now total profit = $50, out of which $20 is from the sale of chinos.

Hence percentage of profit from chinos = \(\frac{20}{50} = 40%\)
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GMAT Club Legend
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User avatar
Joined: 07 Jun 2014
Posts: 4710
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 91

Kudos [?]: 1612 [0], given: 375

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Re: During a sale, the local outlet of the Chasm sold three time [#permalink] New post 05 Jul 2018, 01:54
Expert's post
Explanation

If all the values given in a problem and its answers are percents, ratios, or fractions of some unknown, then the problem will probably be easiest to solve by stipulating values for the unknowns.

In this problem, the two ratios given are 3 : 1 (jeans sold : chinos sold) and 2 : 1 (profits per pair of chinos : profits per pair of jeans). The easiest numbers to stipulate are:

3 pairs of jeans sold

1 pair of chinos sold

$2 profit/pair of chinos

$1 profit/pair of jeans

This yields $2 profit from the chinos out of a total $5 in profit: 2/5 = 40%

Hence option C is correct!
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Re: During a sale, the local outlet of the Chasm sold three time [#permalink] New post 18 Oct 2018, 12:26
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C = # of chinos sold
J = # of jeans sold
J = 3C
J profit = 1*J = 1J
C profit = 2*C = 2C

Total profit: 1J + 2C
Substitute J = 3C
Total profit: (1*3C) + (2C) = 5C
Percent profit from chinos sold?
(CprofitTotalProfit∗100)=(CprofitTotalProfit∗100)=

(2C5C∗100)=.4∗100=40(2C5C∗100)=.4∗100=40 percent

Answer C
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Re: During a sale, the local outlet of the Chasm sold three time [#permalink] New post 18 Oct 2018, 18:08
Expert's post
sandy wrote:
During a sale, the local outlet of the Chasm sold three times as many jeans as chinos. If they made twice as much profit for a pair of chinos as for a pair of jeans, and sold no other items, what percent of their profits during the sale came from chinos?

(A) \(16 \frac{2}{3}\) %
(B) \(20\)%
(C) \(40\)%
(D) \(60\)%
(E) \(83 \frac{1}{3}\)%


the local outlet of the Chasm sold three times as many jeans as chinos.... So \(J=3C\)
they made twice as much profit for a pair of chinos, say x, as for a pair of jeans, say y,... So x=2y
Total profit = J*y+C*x=3C*y+C*2y=5Cy
Profit from Chinos = C*X=2yC
So % = \(\frac{2Cy}{5Cy}*100=40%\)

C
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Some useful Theory.
1. Arithmetic and Geometric progressions : https://greprepclub.com/forum/progressions-arithmetic-geometric-and-harmonic-11574.html#p27048
2. Effect of Arithmetic Operations on fraction : https://greprepclub.com/forum/effects-of-arithmetic-operations-on-fractions-11573.html?sid=d570445335a783891cd4d48a17db9825
3. Remainders : https://greprepclub.com/forum/remainders-what-you-should-know-11524.html
4. Number properties : https://greprepclub.com/forum/number-property-all-you-require-11518.html
5. Absolute Modulus and Inequalities : https://greprepclub.com/forum/absolute-modulus-a-better-understanding-11281.html

Re: During a sale, the local outlet of the Chasm sold three time   [#permalink] 18 Oct 2018, 18:08
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During a sale, the local outlet of the Chasm sold three time

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