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# An antique dealer charges 20 percent more than his purchase price for

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Math Expert
Joined: 02 Sep 2009
Posts: 55274
An antique dealer charges 20 percent more than his purchase price for  [#permalink]

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25 Nov 2018, 23:41
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Difficulty:

15% (low)

Question Stats:

89% (01:23) correct 11% (02:11) wrong based on 22 sessions

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An antique dealer charges 20 percent more than his purchase price for any vase he sells. During a clearance sale, all items are marked 10 percent off. If the dealer sells a vase during the clearance sale, his profit on the vase (sale price minus purchase price) is what percent of his purchase price of the vase?

A. 8%
B. 9%
C. 10%
D. 11%
E. 12%

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Concentration: Finance, Marketing
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Re: An antique dealer charges 20 percent more than his purchase price for  [#permalink]

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25 Nov 2018, 23:47
Let the purchase price of the antique be 100 (Cost Price)
Marks at 20% more than CP. MP = 120.
Now 10% off on SP. SP = 108.

Profit = SP-CP = 8.

8% of the purchase price.

A is the answer.
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Re: An antique dealer charges 20 percent more than his purchase price for  [#permalink]

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26 Nov 2018, 21:09
Bunuel wrote:
An antique dealer charges 20 percent more than his purchase price for any vase he sells. During a clearance sale, all items are marked 10 percent off. If the dealer sells a vase during the clearance sale, his profit on the vase (sale price minus purchase price) is what percent of his purchase price of the vase?

A. 8%
B. 9%
C. 10%
D. 11%
E. 12%

Let price be 100\$
100*1.2=120 \$
120*.9= 108\$
108-100/100= option A 8%
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Re: An antique dealer charges 20 percent more than his purchase price for   [#permalink] 26 Nov 2018, 21:09
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# An antique dealer charges 20 percent more than his purchase price for

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