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Jacob marks his goods up by 75% and then offers a discount on the mark

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Jacob marks his goods up by 75% and then offers a discount on the mark  [#permalink]

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New post 19 Aug 2015, 22:44
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A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

81% (01:39) correct 19% (02:13) wrong based on 146 sessions

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Jacob marks his goods up by 75% and then offers a discount on the marked price. The profit that he makes after offering the discount is 40%. What % discount did Jacob offer?

A. 15%
B. 20%
C. 25%
D. 35%
E. 75%



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Re: Jacob marks his goods up by 75% and then offers a discount on the mark  [#permalink]

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New post 20 Aug 2015, 08:01
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1
Bunuel wrote:
Jacob marks his goods up by 75% and then offers a discount on the marked price. The profit that he makes after offering the discount is 40%. What % discount did Jacob offer?

A. 15%
B. 20%
C. 25%
D. 35%
E. 75%



Kudos for a correct solution.


let the cost price is 100
marked price is 175
selling price is 140
discount (35/175)*100=20%
correct option is B
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Senior Manager
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Joined: 21 Jan 2015
Posts: 346
Location: India
Concentration: Strategy, Marketing
GMAT 1: 620 Q48 V28
GMAT 2: 690 Q49 V35
WE: Sales (Consumer Products)
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Re: Jacob marks his goods up by 75% and then offers a discount on the mark  [#permalink]

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New post 20 Aug 2015, 00:04
Bunuel wrote:
Jacob marks his goods up by 75% and then offers a discount on the marked price. The profit that he makes after offering the discount is 40%. What % discount did Jacob offer?

A. 15%
B. 20%
C. 25%
D. 35%
E. 75%


Ans: B

Solution: let x is the cost price.
so profit 40% means final selling price = 1.40x

marked up price = 1.75x
let discount be r%
so

1.40x=1.75x(1 - r/100)

after solving the equation r= 20%
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Re: Jacob marks his goods up by 75% and then offers a discount on the mark  [#permalink]

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New post 20 Aug 2015, 07:47
Let original goods price=x let discount rate=y
after markup= (7/4)x
y/100 × (7/4)x =14/10 × x
y= 4/5

Discount is 1/5


Answer: B. 20%
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Re: Jacob marks his goods up by 75% and then offers a discount on the mark  [#permalink]

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New post 23 May 2017, 11:08
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: Jacob marks his goods up by 75% and then offers a discount on the mark &nbs [#permalink] 23 May 2017, 11:08
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