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In 2012, the marked price of an electric vehicle was $50,000 and it

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In 2012, the marked price of an electric vehicle was $50,000 and it  [#permalink]

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New post 15 Feb 2019, 09:48
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  45% (medium)

Question Stats:

56% (01:17) correct 44% (01:53) wrong based on 41 sessions

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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

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Re: In 2012, the marked price of an electric vehicle was $50,000 and it  [#permalink]

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New post 15 Feb 2019, 20:17
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
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Re: In 2012, the marked price of an electric vehicle was $50,000 and it  [#permalink]

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New post 20 Feb 2019, 00:30
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?
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Re: In 2012, the marked price of an electric vehicle was $50,000 and it  [#permalink]

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New post 20 Feb 2019, 04:11
1
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 :dazed

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.html

Let me know if you need another further explanation. :) :thumbup:
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Quote which i can relate to.
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Re: In 2012, the marked price of an electric vehicle was $50,000 and it   [#permalink] 20 Feb 2019, 04:11
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