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07 Jun 2023, 01:30
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
68% (01:41) correct
32%
(02:07)
wrong
based on 111
sessions
History
Date
Time
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Not Attempted Yet
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
(1) m = 10
(2) (100 - n) * (100 + m) = 2200
08 Jun 2023, 09:21
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Bunuel
Since an n% discount corresponds to a factor of (1 – n/100), and an m% increase corresponds to a factor of (1 + m/100), we need to answer the question:
50,000(1 – n/100)(1 + m/100) = ?
We can make common denominators inside the parentheses to have:
50,000[(100 – n)/100][(100 + m)/100] = ?
50,000[(100 – n)(100 + m)/10,000] = ?
The rephrased question is simply:
(100 – n)(100 + m) = ?
Statement One Alone:
=> m = 10
We see that without knowing n, we can’t have a unique value to answer the rephrased question. Statement one is not sufficient. Eliminate answer choices A and D.
Statement Two Alone:
=> (100 - n)(100 + m) = 2200
We see that we have a unique value to answer the rephrased question. Statement two is sufficient.
Answer: B
16 Jul 2023, 23:26
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JeffTargetTestPrep
In statement 2, how do we know it has a unique value?
