A shop sold a pair of shoes for Tk. 1600.00 and a pair of sandals for Tk. 960.00. It made a profit of 20% on shoes and took a 10% loss on sandals. The shop made a

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loss of 17.8%

loss of 15.0%

gain of 17.8%

gain of 75.3%

None of these

Correct

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Explanation

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Official Explanation

Official

In this question, we are finding the overall profit or loss considering both transactions. Therefore, we need to find the respective cost prices before calculating the profit/loss.

Cost Price of Shoes:

Selling price = Tk. 1600, profit = 20%.

So, selling price = 120% of CP.

CP of shoes =

\frac{1600}{1.20} = \frac{1600}{6/5} = 1600 \times \frac{5}{6} = \frac{8000}{6} = \text{Tk. } 1333.33

(or exactly

\frac{4000}{3}

).

Cost Price of Sandals:

Selling price = Tk. 960, loss = 10%.

So, selling price = 90% of CP.

CP of sandals =

\frac{960}{0.90} = \frac{960}{9/10} = 960 \times \frac{10}{9} = \frac{9600}{9} = \text{Tk. } 1066.67

(or exactly

\frac{3200}{3}

).…

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What this question tests

What it tests

Your ability to apply GMAT math concepts to solve a multi-step problem quickly and accurately. At the 705-805 level, accuracy and speed both matter.

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Overcomplicating the setup — most GMAT problems reward a direct, organized approach over brute calculation.