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28 Jun 2013, 06:11
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A dress is marked up $$16\frac{2}{3}$$% to a final price of $140. What is the original price 3 of the dress? OA: [Reveal] Spoiler: 120 My concern: [Reveal] Spoiler: How the answer is 120? According to me the answer should be 140- 16 \frac{2}{3}% x 140 = 116.66 Please explain. Reference: Chapter 5: FDPs (Manhattan GMAT guide 1: Fractions, Decimals, & Percents) Last edited by Bunuel on 28 Jun 2013, 07:01, edited 1 time in total. Edited the question.  Manhattan GMAT Discount Codes EMPOWERgmat Discount Codes Jamboree Discount Codes Math Expert Joined: 02 Sep 2009 Posts: 43789 Re: A dress is marked up 16 2/3% to a final price of$140. What [#permalink]

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28 Jun 2013, 07:19
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trushit wrote:
A dress is marked up $$16\frac{2}{3}%$$ to a final price of $140. What is the original price 3 of the dress? OA: [Reveal] Spoiler: 120 My concern: [Reveal] Spoiler: How the answer is 120? According to me the answer should be 140- 16 \frac{2}{3}% x 140 = 116.66 Please explain. Reference: Chapter 5: FDPs (Manhattan GMAT guide 1: Fractions, Decimals, & Percents) $$16\frac{2}{3}=\frac{50}{3}$$, thus $$16\frac{2}{3}$$ percent is $$\frac{(\frac{50}{3})}{100}=\frac{1}{6}$$ (the same ways as 10% is 10/100=0.1). Say the price of the dress is$x, then the markup is 1/6*x, so we have that $$x + \frac{1}{6}*x=140$$ --> $$x=120$$.

Hope it's clear.
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Re: A dress is marked up 16 2/3% to a final price of $140. What [#permalink] ### Show Tags 28 Jun 2013, 08:49 4 This post received KUDOS Hi Trushit, If the original price of an item is$100 and you increment it by 20%, the final price is $100 + 20/100 * 100 = 100+20 = 120 If you discount the final price of$ 120 by 20%, we assume it to be $100 but it is not so. The reason is:$120 - 20/100 * 120 = 120 - 24 = $94 You notice... 20% of 120 is 24 not 20 so you are deducting more than what you actually added hence when you discount by the same value (20%), you wont get the same number. In question you have posted, the author says - "A dress is marked up by 16 2/3% to make the final price of$ 140"

"marked up" means hiked the price... what you tried to do was "discount" the price by same % on the final price.. which is incorrect.

Hence, the problem has to be solved as follows:

let x be original price

% increase is = 16 2/3% of x = 50/3% of x

final price = $140 ==> x + 50/3 * x% = 140 ==> x + 50/300 * x = 140 ==> x + x/6 = 140 ==> 7x/6 = 140 ==> x = 120 Hope I resolved your concern _________________ "Hit KUDOS if you like my explanation" Manager Joined: 12 Jan 2013 Posts: 216 Re: A dress is marked up 16 2/3% to a final price of$140. What [#permalink]

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21 Jul 2013, 13:33
Thank you Bunuel, I completely missed the percent...
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A dress is marked up 16 2/3% to a final price of $140. What [#permalink] ### Show Tags 01 Oct 2016, 12:32 1 This post received KUDOS I have a bit shorter answer. Since, Markup= Selling price- Cost, and (16 2/3 % = 1/6) so, 1/6x =$140- x
1/6 x + x = $140 7/6 x=$140
x= $120 Non-Human User Joined: 09 Sep 2013 Posts: 13845 Re: A dress is marked up 16 2/3% to a final price of$140. What [#permalink]

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10 Oct 2017, 05:48
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