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A merchant bought an item at a cost of c dollars and marked up its

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Senior Manager
Senior Manager
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V
Joined: 25 Dec 2018
Posts: 484
Location: India
Concentration: General Management, Finance
GMAT Date: 02-18-2019
GPA: 3.4
WE: Engineering (Consulting)
CAT Tests
A merchant bought an item at a cost of c dollars and marked up its  [#permalink]

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New post 14 Apr 2019, 07:48
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A
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C
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Difficulty:

  15% (low)

Question Stats:

83% (01:03) correct 17% (01:09) wrong based on 24 sessions

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A merchant bought an item at a cost of c dollars and marked up its price by 40%. However the item did not sell and the merchant was forced to discount the price of the item by 20%. What was the percentage profit earned by the merchant by selling the item at the discounted price?


A. 8%
B. 12%
C. 20%
D. 28%
E. 32%
Manager
Manager
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Joined: 21 Feb 2019
Posts: 125
Location: Italy
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Re: A merchant bought an item at a cost of c dollars and marked up its  [#permalink]

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New post 14 Apr 2019, 10:07
1
Take \(c = 100\). Therefore, item resell price is \(140\).
Discounted price is \(140 - 0.2 * 140 = 112\).
In percentage form, \(\frac{112}{100} = 12\)%.
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Re: A merchant bought an item at a cost of c dollars and marked up its   [#permalink] 14 Apr 2019, 10:07
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A merchant bought an item at a cost of c dollars and marked up its

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