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# A retailer sells pashminas at a ten percent discount. If a pashmina co

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A retailer sells pashminas at a ten percent discount. If a pashmina co  [#permalink]

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07 Oct 2016, 02:34
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Difficulty:

25% (medium)

Question Stats:

72% (01:25) correct 28% (02:11) wrong based on 130 sessions

A retailer sells pashminas at a ten percent discount. If a pashmina cost him $75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina? A. 90 B. 100 C. 120 D. 140 E. 150 _________________ Senior PS Moderator Joined: 26 Feb 2016 Posts: 3333 Location: India GPA: 3.12 A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 07 Oct 2016, 02:47 The minimum tagged price the retailer needs to sell at to make a profit of atleast 20%, after offering a 10% discount on tagged price is 1.2*CP(90). Since, he has to sell the pashmina at 10% discount. Marked price is 100$(Option B)
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Re: A retailer sells pashminas at a ten percent discount. If a pashmina co  [#permalink]

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10 Oct 2016, 05:31
Let the marked price be: $x (before discount). This gives us : (90% of$x (i.e. after discount) - 75)/75 = Profit of 20%.
Solving for x, $100 (mark B). _________________ Citius, Altius, Fortius Board of Directors Status: QA & VA Forum Moderator Joined: 11 Jun 2011 Posts: 4765 Location: India GPA: 3.5 WE: Business Development (Commercial Banking) Re: A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 10 Oct 2016, 06:03 Bunuel wrote: A retailer sells pashminas at a ten percent discount. If a pashmina cost him$75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina?

A. 90
B. 100
C. 120
D. 140
E. 150

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A retailer sells pashminas at a ten percent discount.

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he wants to make a profit of no less than twenty percent on the cost (after the discount)

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Quote:
If a pashmina cost him $75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina? So, Marked Price must be 75/90*120 = 100 Hence correct answer must be (B) _________________ Thanks and Regards Abhishek.... PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only ) VP Joined: 05 Mar 2015 Posts: 1015 Re: A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 10 Oct 2016, 20:33 Bunuel wrote: A retailer sells pashminas at a ten percent discount. If a pashmina cost him$75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina?

A. 90
B. 100
C. 120
D. 140
E. 150

CP of pashmina=75
so for 20% profit the SP must be 75(1+20%)=90
but the seller is giving 10% discount on marked price let X
after giving 10% discount on Marked price(X) he must get $90 thus X(1-10%)=90 solving for X X=100 Ans B Current Student Status: DONE! Joined: 05 Sep 2016 Posts: 358 Re: A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 05 Dec 2016, 11:29 0.90x-75>= 15 x>=100 B. Director Joined: 12 Nov 2016 Posts: 701 Location: United States Schools: Yale '18 GMAT 1: 650 Q43 V37 GRE 1: Q157 V158 GPA: 2.66 Re: A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 23 Jun 2017, 16:05 Bunuel wrote: A retailer sells pashminas at a ten percent discount. If a pashmina cost him$75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina?

A. 90
B. 100
C. 120
D. 140
E. 150

What this question is basically saying- and I'm not sure if the parentheses was included in the exact copy of the question- is that whatever price this retailer decides to sell the pashmina at must give him a 20 percent profit on the cost it took him to buy the pashmina 75$. A 20 percent profit of$75 dollars would represented as 75.00 x 1.2 = 90 dollars. So whatever price the retailer decides to sell this pashimina at, it must make him at least 15 dollars- in other words

Cost After Discount- 75$≥$15.00

Now, the question asks for the minimum value. Answer choice "B" clearly satisfies this condition.

Cost Price = $75 Selling Price = x profit = 0.2* 75 = sp - cp => 0.90 * x - 75 = 15 => 0.90 * x = 90 => x = 100 _________________ If you like the post, please award me Kudos!! It motivates me Senior SC Moderator Joined: 22 May 2016 Posts: 3537 A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 01 Jul 2017, 10:42 Bunuel wrote: A retailer sells pashminas at a ten percent discount. If a pashmina cost him$75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina?

A. 90
B. 100
C. 120
D. 140
E. 150

10% discount on SP = .90SP

After discount (.90SP), wants to make at least 20% on cost of $75 = (1.2)(75) .90SP = (1.2)(75) .90SP = 90 SP = $$\frac{90}{.9}$$ = $$\frac{900}{9}$$ = 100 Answer B _________________ SC Butler has resumed! Get two SC questions to practice, whose links you can find by date, here. Choose life. Target Test Prep Representative Status: Founder & CEO Affiliations: Target Test Prep Joined: 14 Oct 2015 Posts: 8043 Location: United States (CA) Re: A retailer sells pashminas at a ten percent discount. If a pashmina co [#permalink] ### Show Tags 04 Feb 2019, 18:36 Bunuel wrote: A retailer sells pashminas at a ten percent discount. If a pashmina cost him$75 and he wants to make a profit of no less than twenty percent on the cost (after the discount), what is the minimum tag price he needs to put on a pashmina?

A. 90
B. 100
C. 120
D. 140
E. 150

We know that the minimum profit will be 75 x 0.2 = $15. Thus, the retailer needs to collect at least 75 + 15 =$90 cash from the customer for a pashmina.
We need to determine what the tag price would need to be such that a 10% discount would yield 90 dollars. Letting p = the tag price, we have:

0.9p = 90

p = 100

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Re: A retailer sells pashminas at a ten percent discount. If a pashmina co   [#permalink] 04 Feb 2019, 18:36
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