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Patrick purchased 80 pencils and sold them at a loss equal

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Patrick purchased 80 pencils and sold them at a loss equal [#permalink] New post 30 Apr 2019, 01:02
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25% (01:40) correct 75% (00:33) wrong based on 4 sessions
Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 20 pencils.


Quantity A
Quantity B
Cost of 80 pencils
Selling price of 100 pencils


A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
[Reveal] Spoiler: OA

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Re: Patrick purchased 80 pencils and sold them at a loss equal [#permalink] New post 30 Apr 2019, 06:38
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let CP of 1 pencil = 1, so CP of 80 pencils = 80

then,

CP - SP = LOSS (when it costs more than you sell it for)

Assume SP of 80 pencils to be SP, so for SP of 20 pencils it (20/80 * SP)
it is mentioned LOSS is SP of 20 pencils

substituting,
80 - SP = (20/80 * SP)
80 - SP = 1/4 * SP
80 = 5/4 * SP

SP = 64

Now this value is SP of 80 pencils, so SP of 100 pencils = (100 * 64 / 80) = 80
So answer is C.
Re: Patrick purchased 80 pencils and sold them at a loss equal   [#permalink] 30 Apr 2019, 06:38
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Patrick purchased 80 pencils and sold them at a loss equal

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