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Math Help - Simple Percentage Logic

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    Simple Percentage Logic

    Found this one confused a lot of people for the most obvious reasons.
    Anyways, here it is:

    "Bill sells suits for a living. He buys a suit and puts it on sale for 133 and 1/3 percent of it's wholesale price. Harry purchases this suit, only to find that it is too small. Harry then sells it back to Bill for the wholesale price. What is the percentage loss incurred by Harry?"
    Post your solutions
    Edit: note, percentage loss refers to the amount harry lost by selling it back for a lower price
    Last edited by 99.95; September 29th 2010 at 06:07 AM.
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    w = wholesale, s = selling
    w(1 + 4/3) = s

    s(1 + x) = w
    1 + x = w/s
    x = w/s - 1

    Example:
    120(1 + 4/3) = 280

    x = 120/280 - 1 = -.57142... : so loss of ~57%
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    incorrect
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    Harry bought it for say 133+1/3 dollars and sold it for 100 dollars. (1/3 dollar isn't an actual amount, but all we care about is the ratio.)

    100 is 3/4 of 133+1/3. So he incurred a 25% loss.
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  5. #5
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    Well, ain't spending time looking for a play on words;

    .57142... * 280 = 160, which is what he lost: 280 - 120 = 160
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    would 's' not be equal to 1 + 1/3 ?
    (Undefined is correct)
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    Quote Originally Posted by 99.95 View Post
    would 's' not be equal to 1 + 1/3 ?
    (Undefined is correct)
    NO.
    A 10% increase on $100 results in 100(1 + .10) = 110
    Similarly, a (133.333...)% increase results in 100(1 + 1.33333) = 233.33
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  8. #8
    MHF Contributor undefined's Avatar
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    Quote Originally Posted by Wilmer View Post
    NO.
    A 10% increase on $100 results in 100(1 + .10) = 110
    Similarly, a (133.333...)% increase results in 100(1 + 1.33333) = 233.33
    I don't think there is any play on words or ambiguity here; the problem states "puts it on sale for 133 and 1/3 percent of it's wholesale price". This is different from a 133+1/3 percent increase.
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    Quote Originally Posted by undefined View Post
    I don't think there is any play on words or ambiguity here; the problem states "puts it on sale for 133 and 1/3 percent of it's wholesale price". This is different from a 133+1/3 percent increase.
    Before I resign or commit suicide, can you tell me WHY?
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    Quote Originally Posted by Wilmer View Post
    Before I resign or commit suicide, can you tell me WHY?
    Umm.. I'm not sure what's going on emotionally or if there's some joke I'm missing but..

    Suppose wholesale price is $3.

    133+1/3 percent of $3 is $4.

    So if you sell at 133+1/3 percent of wholesale price, the sale price is $4.

    If you increase by 133+1/3 percent, you increase by $4, and the sale price is $7.

    Am I missing something?
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    Quote Originally Posted by undefined View Post
    Umm.. I'm not sure what's going on emotionally or if there's some joke I'm missing but..
    Am I missing something?
    Just a joke, n/0; I'm the one that missed something; I read this:
    "He buys a suit and puts it on sale for 133 and 1/3 percent of it's wholesale price."
    as a profit margin of 133 1/3 %.
    I swear (right hand on the Fible) that I'll be more careful next time!
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  12. #12
    MHF Contributor undefined's Avatar
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    Quote Originally Posted by Wilmer View Post
    Just a joke, n/0; I'm the one that missed something; I read this:
    "He buys a suit and puts it on sale for 133 and 1/3 percent of it's wholesale price."
    as a profit margin of 133 1/3 %.
    I swear (right hand on the Fible) that I'll be more careful next time!
    Right hand on the Fible! Well, it's not that serious..
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