Kezia9 wrote:
KanishkM wrote:
gmat1393 wrote:
In 2012, the marked price of an electric vehicle was $50,000 and it was sold at a discount of n%. In early 2013, due to rise in fossil fuel prices, the demand for electric vehicles surged. Consequently, the selling price of the aforementioned electric vehicle was raised by m% over its earlier discounted price. What was the new selling price of the electric vehicle?
(1) m = 10
(2) (100 - n) * (100 + m) = 2200
IMO B
A question on successive percentage
we need m - n -nm/100 = %change ---------(1)
from 1) m =10, we cannot say anything about n
from 2) 10^4 - 100n +100m -nm = 2200
2200 - 10^4 = 100m - 100n -nm
When both sides are divided by 100, we get the same form as (1)
Answer is B
Hi KanishkM,
Can you explain how you arrived at Eq 1i.e m-n-nm/100 = % change?
Greetings
Kezia9,
I would love to do that.
So basically this is a good shortcut to know about, Apparently i had mentioned about it before as well, But that user does not exist now
So let me start
If you consider this question, notice the
bold words, these words signify the successive change logic.
The marked price of an electric vehicle was $50,000 and it was sold at a
discount of
n%. In early 2013, due to rise in fossil fuel prices, the demand for electric vehicles surged. Consequently, the selling price of the aforementioned electric vehicle was
raised by
m% over its earlier discounted price. What was the new selling price of the electric vehicle?
A single price is witnessing a discount as well as a profit.
Now when there is a discount, you are subtracting a value from the base value, so that is why we will subtract them.
When there is a profit, you are adding a value in the base value.
You can have a further read at this post as well
https://gmatclub.com/forum/excellent-me ... 85973.htmlLet me know if you need another further explanation.
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Quote which i can relate to.
Many of life's failures happen with people who do not realize how close they were to success when they gave up.