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# M24-02

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Math Expert
Joined: 02 Sep 2009
Posts: 58453

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16 Sep 2014, 01:20
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Difficulty:

5% (low)

Question Stats:

92% (00:45) correct 8% (01:24) wrong based on 125 sessions

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A car-shop sells a car for $4800. This price includes a 20% markup. What would be the price of the car with a 10% markup? A.$4100
B. $4300 C.$4400
D. $4600 E.$4700

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Math Expert
Joined: 02 Sep 2009
Posts: 58453

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16 Sep 2014, 01:20
Official Solution:

A car-shop sells a car for $4800. This price includes a 20% markup. What would be the price of the car with a 10% markup? A.$4100
B. $4300 C.$4400
D. $4600 E.$4700

Let $$X$$ be the price of the car without a markup. Then $$1.2X = 4800$$ from where $$X = 4000$$. 10% of $$X$$ is 400; the price of the car with a 10% markup would be \$4400.

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Joined: 08 Jun 2015
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Location: India
GMAT 1: 640 Q48 V29
GMAT 2: 700 Q48 V38
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09 Apr 2018, 06:17
+1 for C. We are told that 1.2x is 4800 (where x is the original price). We need to find 1.1x. Do the math, answer comes to 4400 , i.e. option C.
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Re: M24-02   [#permalink] 09 Apr 2018, 06:17
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# M24-02

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