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:
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:
Last Sunday a certain store sold copies of Newspaper A for $1.00 each and copies of Newspaper B for $1.25 each, and the store sold no other newspapers that day. If r percent of the store’s revenues from newspaper sales was from Newspaper A and if p percent of the newspapers that the store sold were copies of newspaper A, which of the following expresses r in terms of p?
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:
Tanya prepared 4 different letters to be sent to 4 different addresses. For each letter, she prepared an envelope with its correct address. If the 4 letters are to be put into the 4 envelopes at random, what is the probability that only 1 letter will be put into the envelope with its correct address?
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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