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A merchant prices a television at 60 percent above wholesale. For a Pr

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A merchant prices a television at 60 percent above wholesale. For a Pr [#permalink]

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New post 12 May 2017, 11:29
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E

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Question Stats:

100% (00:48) correct 0% (00:00) wrong based on 21 sessions

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A merchant prices a television at 60 percent above wholesale. For a Presidents’ Day sale, the merchant marks the television down by 25 percent. If he sells the television during the Presidents’ Day sale, what percentage over the wholesale price will he have earned?

A. 75
B. 50
C. 35
D. 25
E. 20
[Reveal] Spoiler: OA

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A merchant prices a television at 60 percent above wholesale. For a Pr [#permalink]

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Lets assume a value for the wholesale value for the TV : 200
If the merchant prices the TV at 60% above the wholesale price : 1.6*200 or 320
On Presidents' day sale, he get 25% discount : 0.75*320 or 240

240 is 40 more than 200(Profit= SP-CP)
Hence he earns a profit percentage of \(\frac{40}{200}*100\) or 20(Option E)
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Re: A merchant prices a television at 60 percent above wholesale. For a Pr [#permalink]

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New post 13 May 2017, 01:27
If value of a product is first increased a% then b%, the resultant increase is given as

\(a + b +\frac{ab}{100}\)

here a = 60 b = -25

\(60 - 25 - \frac{1500}{100} = 20%\)
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Re: A merchant prices a television at 60 percent above wholesale. For a Pr [#permalink]

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New post 13 May 2017, 03:02
Let the wholesale price be 100
Marked price by merchant on other days= 1.6*100=160
Marked price by merchant on Presidents' day= 0.75*160=120
Difference= 120-100= 20
% of profit earned over the wholesale price= \(\frac{20}{100}\)*100= 20%

Answer: E.

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Re: A merchant prices a television at 60 percent above wholesale. For a Pr   [#permalink] 13 May 2017, 03:02
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A merchant prices a television at 60 percent above wholesale. For a Pr

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