GMAT Percent Problems, Part I

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1. A merchant buys a certain item at the wholesale price, and then resells it for $300. If she made a profit
equivalent to 25% of the wholesale price, what was the wholesale price of the item?
(A) $225 (B) $240 (C) $360 (D) $375 (E) $400

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2. A sweater is on sale for $90. If this price is 40% less than the regular price of the sweater, what is the
regular price of the sweater?
(A) $126 (B) $130 (C) $135 (D) $144 (E) $150

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3. At what simple annual interest rate must $2,400 be invested if it is to earn $216 in interest in one year?
(A) 6% (B) 7% (C) 8% (D) 9% (E) 10%
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4. A merchant buys a hubcap for $40, and marks up the price by 50%. He then discounts that price by 25%,
and sells the hubcap. What is his total profit?
(A) $5 (B) $10 (C) $15 (D) $25 (E) $45
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5. A merchant buys a crate of guavas at a wholesale price of $x, marks it up by 100%, discounts the guavas
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by 40%, discounts that price by another 16 %, and then sells them. The merchant’s total profit or loss is what
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percent of the wholesale price?
(A) 4% loss (B) no profit or loss (C) 20% profit (D) 25% profit (E) 33% profit
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6. The same dumb merchant buys a goat at wholesale, marks it up by 60%, cuts the new price by 12.5%, and
then sells the goat. His final profit is $20. What was the original wholesale price of the goat?
(A) $40 (B) $50 (C) $67.50 (D) $80 (E) $100
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7. A pleasantly plump pig breaks into a large grain silo that contains 900,000 pounds of corn. If the pig eats
27 pounds of corn before he gets caught, what percent of the grain silo’s contents did he consume?
(A) 3% (B) 0.3% (C) 0.03% (D) 0.003% (E) 0.0003%
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8. 40,000 is what percent of 160?
(A) 25% (B) 250% (C) 2,500% (D) 25,000% (E) 250,000%
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9. If 4x% of 2y is equal to 480, what is the value of xy?
(A) 60 (B) 120 (C) 600 (D) 1200 (E) 6000

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10. Bruce the Merchant sold a certain item for $42.21, including 5% sales tax. What was the price of the
item, NOT including the sales tax?
(A) $39.60 (B) $40.10 (C) $40.20 (D) $44.21 (E) $44.32
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11. Last week, Trevor the Merchant made a whopping $20,500. He decided to give his daughter a gift that
cost 1/5 of a percent of Trevor’s total income for the week. What was the cost of the gift?
(A) $41 (B) $102.50 (C) $410 (D) $1025 (E) $4100
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12. What percent of 16 is m?
(1) m = 4
(2) 450% of m is 18
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13. If 2x = 1.6y and z = 1.5y, then z is what percent greater than x?
(A) 62.5% (B) 82.5% (C) 87.5% (D) 150% (E) 187.5%

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14. A merchant buys an ugly green dress at the wholesale price, and then resells it for $300. If she made a
profit equivalent to 25% of the selling price, what was the wholesale price of the dress?
(A) $225 (B) $240 (C) $360 (D) $375 (E) $400

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15. A group of 16 people spent a grand total of $460 on lunch, including a 15% gratuity. What was the
average amount paid per person, NOT including the gratuity?
(A) $20.00 (B) $22.70 (C) $24.44 (D) $25.00 (E) $33.06
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16. Peter the Merchant buys a bedpan at the wholesale price, marks it up by 40%, marks it up by another 2/7,
and then sells it. He makes a profit of $16. What was the original wholesale price of the bedpan?
(A) $20 (B) $22.50 (C) $24 (D) $28 (E) $32
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17. Another merchant buys a puppet for $50 and marks up the price by 50%. He then marks up that price by
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20%, and then discounts the result by 11 % before selling the puppet. What is his total profit?
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(A) $16.67 (B) $25 (C) $30 (D) $40 (E) $68
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18. Last week, Bruce the Merchant made 200% more money than Chuck the Merchant, and 150% more
money than Darlene the Merchant. If Darlene made $300 last week, what was the combined income of all
three merchants?
(A) $900 (B) $975 (C) $1250 (D) $1300 (E) $1425
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19. A discount of 20 percent followed by a discount of 10 percent is equivalent to a single discount of

(A) 2% (B) 15% (C) 28% (D) 30% (E) 32%

Answers:
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