GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 15 Nov 2018, 11:03

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel
Events & Promotions in November
PrevNext
SuMoTuWeThFrSa
28293031123
45678910
11121314151617
18192021222324
2526272829301
Open Detailed Calendar
  • Free GMAT Strategy Webinar

     November 17, 2018

     November 17, 2018

     07:00 AM PST

     09:00 AM PST

    Nov. 17, 7 AM PST. Aiming to score 760+? Attend this FREE session to learn how to Define your GMAT Strategy, Create your Study Plan and Master the Core Skills to excel on the GMAT.
  • GMATbuster's Weekly GMAT Quant Quiz # 9

     November 17, 2018

     November 17, 2018

     09:00 AM PST

     11:00 AM PST

    Join the Quiz Saturday November 17th, 9 AM PST. The Quiz will last approximately 2 hours. Make sure you are on time or you will be at a disadvantage.

Mohanlal sells shirts in his shop, all shirts have the same marked pri

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

DS Forum Moderator
avatar
P
Joined: 21 Aug 2013
Posts: 1365
Location: India
Premium Member
Mohanlal sells shirts in his shop, all shirts have the same marked pri  [#permalink]

Show Tags

New post 12 Jul 2018, 22:21
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

65% (03:22) correct 35% (03:08) wrong based on 18 sessions

HideShow timer Statistics

Mohanlal sells shirts in his shop, all shirts have the same marked price, and also all shirts have same cost price for Mohanlal. First customer buys one shirt and Mohanlal gives him a discount of 10%. Second customer buys two shirts, and Mohanlal gives him a discount of 20%. Third customer buys three shirts, and Mohanlal gives her a discount of 30%. After this Mohanlal realises that for these six shirts combined, he has neither gained nor suffered loss overall. If Mohanlal was to give same percentage discount to each of the three customers and end up with same no profit no loss situation, what would be the approximate value of that discount in percentage?

A. 26%
B. 23%
C. 21%
D. 19%
E. 16%
Senior PS Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3307
Location: India
GPA: 3.12
Premium Member CAT Tests
Mohanlal sells shirts in his shop, all shirts have the same marked pri  [#permalink]

Show Tags

New post 12 Jul 2018, 23:59
1
amanvermagmat wrote:
Mohanlal sells shirts in his shop, all shirts have the same marked price, and also all shirts have same cost price for Mohanlal. First customer buys one shirt and Mohanlal gives him a discount of 10%. Second customer buys two shirts, and Mohanlal gives him a discount of 20%. Third customer buys three shirts, and Mohanlal gives her a discount of 30%. After this Mohanlal realises that for these six shirts combined, he has neither gained nor suffered loss overall. If Mohanlal was to give same percentage discount to each of the three customers and end up with same no profit no loss situation, what would be the approximate value of that discount in percentage?

A. 26%
B. 23%
C. 21%
D. 19%
E. 16%


Here, the shirts have the same marked price - Let's call it M.
The amount that the shop will make selling the 6 shirts(at their original price) is 6M.

The shirts are sold at 0.9M, 0.8M, and 0.7M to the customers as discounts of 10%,
20%, & 30% are offered to the customer who bought 1,2, & 3 shirts respectively.

The cost recovered after the discounts is 0.9M + 0.8M*2 + 0.7M*3 = 0.9M + 1.6M + 2.1M = 4.6M
This causes a loss of 1.4M (6M - 4.6M) to Mohanlal because of the discounts given to the customers.

Therefore, the approximate value of the discount in percentage is \(\frac{1.4M}{6M}*100 = \frac{70}{3} = 23\)%(approx) (Option B)
_________________

You've got what it takes, but it will take everything you've got

GMAT Club Bot
Mohanlal sells shirts in his shop, all shirts have the same marked pri &nbs [#permalink] 12 Jul 2018, 23:59
Display posts from previous: Sort by

Mohanlal sells shirts in his shop, all shirts have the same marked pri

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.