Author 
Message 
TAGS:

Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 44398

By what percent was the price of a certain television set discounted [#permalink]
Show Tags
29 Nov 2010, 01:23
2
This post received KUDOS
Expert's post
6
This post was BOOKMARKED
Question Stats:
76% (00:54) correct 24% (01:01) wrong based on 718 sessions
HideShow timer Statistics



Manager
Status: I rest, I rust.
Joined: 04 Oct 2010
Posts: 117
Schools: ISB  Co 2013
WE 1: IT Professional since 2006

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
29 Nov 2010, 02:24
5
This post received KUDOS
You don't have to assume...but can define a variable.. e.g. lets take X as the discounted price so the price before discount = 1.25X so the discount was 0.25X Now all you have to do is to calculate the % of 0.25X in 1.25X which is 20%. Hope its clear PS: Consider a kudos if you like my post
_________________
Respect, Vaibhav
PS: Correct me if I am wrong.



Veritas Prep GMAT Instructor
Joined: 16 Oct 2010
Posts: 7999
Location: Pune, India

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
29 Nov 2010, 06:29
4
This post received KUDOS
Expert's post
3
This post was BOOKMARKED
rite2deepti wrote: By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale.
If we suppose that the initial price was 100 then the Answer is A , but can we assume in DS questions ?
Please clarify In percentage questions, you can assume some price to be 100 and then do your calculations and get your answer in percentage terms. The reason for this is that it doesn't matter what the price actually is. The percentage will remain the same. e.g. Discounted price is 100. When we increase it by 25%, we get 125 as the original price. Discount given = (125  100)/125 * 100 = 20% Let us say discounted price is 200. When we increase it by 25%, we get 250 as the original price. Discount given = (250  200)/250 * 100 = 20% No matter what you assume your discounted price to be, you will always get a discount of 20%. You can use any one of these values to get your answer. It holds for all values of discount price, hence you are not assuming anything here. Or you can use 'x' and then do your calculations as done above. For our calculations, we generally use 100 as the price since it is easiest to work with.
_________________
Karishma Veritas Prep  GMAT Instructor My Blog
Get started with Veritas Prep GMAT On Demand for $199
Veritas Prep Reviews



Manager
Joined: 29 Oct 2009
Posts: 191
Concentration: General Management, Sustainability
WE: Consulting (Computer Software)

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
29 Nov 2010, 10:38
1
This post received KUDOS
Lets consider cost price is c selling price after discount is s Statement1: cost price is 25% greater than selling price \(c = s + (25/100) s\) \(c = (100s+25s)/100\) \(c = 125s/100\) \(s = 100c/125 = 4c/5\) multiply by 20 to get 100 in denominator \(s = 80c/100\) That means 80% of cost price is selling price ==> 20% is the discount applied. Sufficient Statement2: s = c60 from this statement we can not find the percentage. Not sufficient. Ans A
_________________
+1Kudos, if this helps



Math Expert
Joined: 02 Sep 2009
Posts: 44398

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
25 Oct 2015, 08:59



Manager
Joined: 11 Sep 2013
Posts: 112

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
25 Oct 2015, 10:00
1
This post was BOOKMARKED
Bunuel wrote: By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale.
Kudos for a correct solution. t is the discounted price. p is the price before discounted => we need to know: (pt)/p or t/p (1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. => p=1.25t => know t/p => sufficient (2) The price of the television set was discounted by $60 for the sale We know t but do not know p => insufficient Ans: A



Intern
Joined: 22 Sep 2014
Posts: 37

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
25 Oct 2015, 12:56
Bunuel wrote: By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale.
Kudos for a correct solution. Will go with ALet original price = x Let the discount percentage = k lets discounted price = d The equation: x  (k/100)x = d  (1) To Find: k Statement 1: d + (25/100)d = x ===>> (5/4)d = x ===>> if we put the value of x in equation (1) we will get the value of 'k' as all the value of d will be cancelled out. We will get k = 20. Hence sufficient.Statement 2: given that kx/100 = 60. One equation and 2 unknown variables. Hence will not be able to find the value of K. Thus, insufficient.
_________________
Thanks & Regards, Vikash Alex (Do like the below link on FB and join us in contributing towards education to underprivilege children.) https://www.facebook.com/svect



Manager
Joined: 22 Feb 2015
Posts: 56
Location: United States
Concentration: Finance, Operations
GMAT Date: 04012015
GPA: 3.98

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
26 Oct 2015, 04:43
1
This post received KUDOS
By what percent was the price of a certain television set discounted for a sale? (1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale. Sol. we need to find Let price of television is x Price after Discount is d 1) x = 1.25 d so x/d =1.25 or d/x = 100/125 i.e 0.80 i.e 20 % discount 2) x  60 = d Not sufficient so first is sufficient Hence A
_________________
Click +1 KUDOS , You can make me happy with just one click! Thanks



Intern
Joined: 20 Aug 2014
Posts: 4

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
29 Sep 2016, 16:08
Hi Guys, I am a newcomer here and i am not sure if this is the right place to ask, I have a GMAT problem here, and its not that hard apparently but maybe I am stupid . By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale.
ok so I keep getting E, now can someone just call me stupid and explain to me, and make me understand what this 25% greater is. I just dont get this concept. We are saying the D(1.25) = O , with O being original price and D being discount price. If Original price is 25% greater than the Discounted price, then how is it possbile that the discount is 20%?? thats what is driving me crazy. How is orginal price greater by 25%, if discount is 20% off, should the original price be 20% more than the discounted price??? sorry if i sound stupid but this got me very frustrated



Intern
Joined: 08 Sep 2016
Posts: 1
Location: Viet Nam
GPA: 4

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
29 Sep 2016, 19:16
1
This post received KUDOS
Hi jakejake I can feel you! but hope this could help there are certain concepts in increase/decrease percent questions which I think you may have misunderstood 1. if a is x percent greater than b it means: (ab)/b = x % 2. if b is y percent less than a it means: (ab)/a = y % For example: 8 is (85)/5 = 60% greater than 5 but 5 is (85)/8 = 37.5% less than 8 you can see the difference, right? In short, a is x percent greater than b, but b is not x percent less than a For discounted problem, it's more straightforward and, well, common sense: original price: a discounted: x percent discounted price: a(1x)/100 I hope you could resolve the problem based on this



Intern
Joined: 26 Jan 2016
Posts: 1

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
24 Dec 2016, 13:12
VeritasPrepKarishma wrote: rite2deepti wrote: By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale.
If we suppose that the initial price was 100 then the Answer is A , but can we assume in DS questions ?
Please clarify In percentage questions, you can assume some price to be 100 and then do your calculations and get your answer in percentage terms. The reason for this is that it doesn't matter what the price actually is. The percentage will remain the same. e.g. Discounted price is 100. When we increase it by 25%, we get 125 as the original price. Discount given = (125  100)/125 * 100 = 20% Let us say discounted price is 200. When we increase it by 25%, we get 250 as the original price. Discount given = (250  200)/250 * 100 = 20% No matter what you assume your discounted price to be, you will always get a discount of 20%. You can use any one of these values to get your answer. It holds for all values of discount price, hence you are not assuming anything here. Or you can use 'x' and then do your calculations as done above. For our calculations, we generally use 100 as the price since it is easiest to work with. Hi VeritasPrepKarishma , Quick and maybe stupid question. How do you decide what will go in the denominator, as in it could be (100125)/125 or (125100)/100 ? or in terms of variables would it be (BD)/B or (DB)/D where B= Price before sale and D=Discounted price your reply is much appreciated. Thank you



Current Student
Status: No matter how bad it is or how bad it gets: I am going to make it.
Joined: 06 Apr 2016
Posts: 32
Location: Ukraine
Concentration: Finance, Entrepreneurship
GMAT 1: 670 Q49 V32 GMAT 2: 730 Q50 V38
GPA: 3.8
WE: Sales (Other)

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
18 Apr 2017, 03:56
jakejake wrote: Hi Guys, I am a newcomer here and i am not sure if this is the right place to ask, I have a GMAT problem here, and its not that hard apparently but maybe I am stupid . By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale.
ok so I keep getting E, now can someone just call me stupid and explain to me, and make me understand what this 25% greater is. I just dont get this concept. We are saying the D(1.25) = O , with O being original price and D being discount price. If Original price is 25% greater than the Discounted price, then how is it possbile that the discount is 20%?? thats what is driving me crazy. How is orginal price greater by 25%, if discount is 20% off, should the original price be 20% more than the discounted price??? sorry if i sound stupid but this got me very frustrated Jakejake, let me try. First, in DS we do not need to calculate till the end. We need to know whether the information provided is SUFFICIENT to perform the calculation. Second, we have only one variable and asked not for the exact value, but for the % change, so we need the relationship between old and new price. Statement 1 gives us the relationship, hence sufficient. Statement 2 gives only value change, without any relationship insufficient. If you want to check yourself plug in the values. When you see percents go for 100: Let the discount price = 100, then base price = 100*1,25=125. Percentage change= (newold)/old=(100125)/125=25/125=1/5=20% The price was discounted by 20%. Posted from my mobile device
_________________
The more we do, the more we can do.



Senior Manager
Joined: 09 Mar 2017
Posts: 355
Location: India
Concentration: Marketing, Organizational Behavior
WE: Information Technology (Computer Software)

Re: By what percent was the price of a certain television set discounted [#permalink]
Show Tags
07 Nov 2017, 08:27
Bunuel wrote: By what percent was the price of a certain television set discounted for a sale?
(1) The price of the television set before it was discounted for the sale was 25 percent greater than the discounted price. (2) The price of the television set was discounted by $60 for the sale. 1) % D = (D/CP ) * 100 = (D/ 1.25D)*100 = 80 The price of a certain television set discounted for a sale by 20% sufficient 2)%D = 60/CP *100 No info about CP insufficient
_________________
 "Trust the timing of your life" Hit Kudus if this has helped you get closer to your goal, and also to assist others save time. Tq




Re: By what percent was the price of a certain television set discounted
[#permalink]
07 Nov 2017, 08:27






