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

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Joined: 25 Dec 2018
Posts: 225
Location: India
Concentration: General Management, Finance
GMAT 1: 590 Q48 V23
GPA: 3.4
WE: Engineering (Consulting)
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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Question Stats:

100% (00:54) correct 0% (00:00) wrong based on 9 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%
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Joined: 21 Feb 2019
Posts: 103
Location: Italy
Premium Member CAT Tests
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
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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