1953 AMC 12 Problem 16

Attempt Problem 16 of the 1953 AMC 12 below, then check your answer against the professionally curated solution from LIVE by Po-Shen Loh. You can also try the full timed exam, view all 1953 AMC 12 solutions, or check the answer key.

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16.

Adams plans a profit of

10\%

on the selling price of an article and his expenses are

15\%

of sales. The rate of mark-up on an article that sells for

\$5.00

is:

20\%

25\%

30\%

33\dfrac13\%

35\%

Subtract both profit and expenses from the selling price to recover the cost

The cost is

75\%

of the selling price

Profit and expenses are

10\%+15\%=25\%

of sales, so the cost is

75\%

of the selling price. The markup as a fraction of cost is

\frac{25\%}{75\%}=\frac13=33\frac13\%.

Thus, the correct answer is D.

Problem 16 in other years