GMAT Quant Questions | Profit Loss Q11

GMAT Sample Questions | GMAT Arithmetic Word Problem

The given question is a GMAT 500-600 level problem solving question from the topic Profit & Loss. This GMAT quant question tests the concept of computing the selling price of an article. An easy GMAT arithmetic word problem.

Question 11: Sam buys 10 apples for $1. At what price should he sell a dozen apples if he wishes to make a profit of 25%?

  1. $0.125
  2. $1.25
  3. $0.25
  4. $1.5
  5. $1.8

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Explanatory Answer | GMAT Profit Loss Q11

The cost price of 1 apple = $\\frac{1}{10}) or $0.10.
Because Sam wishes to make a profit of 25%, selling price per apple should be 0.10 + 25% of 0.10
= 0.1 + 0.025 = $0.125.
If the selling price of 1 apple is $0.125, the selling price of a dozen apples = 12 × 0.125 = $1.5

Selling price of a dozen apples is $1.5

Choice D is the correct answer.

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