A photography dealer ordered 60 Model X cameras to be sold for $250 each, which represents a 20 percent markup over the dealer’s initial cost for each camera. Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer’s initial cost. What was the dealer’s approximate profit or loss as a percent of the dealer’s initial cost for the 60 cameras?
A. 7% loss
B. 13% loss
C. 7% profit
D. 13% profit
E. 15% profit
Correct Answer: D
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You’ll find tons of practice questions, explanations for GMAT Official Guide questions, and strategies on our GMAT Question of the Day page.
Here are a few other extra challenging GMAT questions with in depth explanations:
Here’s a tough function question from the GMAT Prep tests 1 and 2:
For which of the following functions is f(a+b) = f(b) + f(a) for all positive numbers a and b?
And a very challenging word problem from the Official Guide. Almost no-one gets this one on the first try but there is a somewhat simple way through it:
Tanya’s letters from the GMAT Prep tests. This one often gets GMAT tutoring students caught up in a tangled net. With combinatorics it’s important to stay practical. We’ll take a look at how to do that in the explanation:
Here’s an exponents puzzle that comes up a lot in GMAT tutoring sessions:
This is one of the most difficult questions in the GMAT universe. That said, there is a simple way to solve it that relies on a fundamental divisibility rule every GMAT studier should know:
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