Jack gave 20% discount on sale of 15 toys & generated revenue of 600$. He earned 25% profit on this sale. Next day he sold 20 toys without any discount. what is his gross profit in two days?

Correct answer marked below

240 $

360 $

480 $

Correct

510 $

550 $

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Explanation

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Official Explanation

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He earned 25% profit --> cost of 15 toys =

\$600 / 1.25 = \$480

(cost * 1.25 = sales).

So, cost of 1 toy =

\$480 / 15 = \$32

.

Profit from 15 toys =

\$600 - \$480 = \$120

.

Undiscounted price for 15 toys =

\$600 / 0.8 = \$750

.…

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What this question 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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