Re: A retailer purchased a television set for x percent less than its list
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Updated on: 02 Feb 2017, 09:39
A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than its list price. What was the list price of the television set?
(1) x = 15
(2) x - y = 5
Translating question stem into formulas we have (P= purchase price, L = list price, S = selling price):
Clue 1) "purchased a television set for x percent less than its list price"= P = (1 - x/100) * L
Clue 2) "sold it for y percent less than its list price" = S= (1 - y/100) * L
Question L = ?
Unfortunately since we need the concrete value L we need S or P even if we know x, y. Hence E
Imho this question is very easy only if you REALISE, soon enough, that you have 3 unknowns. This means that you have to end up quickly enough with an equation that encapsulates the problem.
Originally posted by
Ndkms on 08 Jan 2017, 06:56.
Last edited by
Ndkms on 02 Feb 2017, 09:39, edited 1 time in total.