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18 Mar 2024, 22:55
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Cost Price: $80
Marked Price: $200
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
68% (02:33) correct
32%
(03:05)
wrong
based on 1163
sessions
History
Date
Time
Result
Not Attempted Yet
Sophia runs a retail store selling women's luxury apparel. In her stock clearance sale, she offered two successive discounts of 30% and 20%. On a premium Minaudière, she offered the same discount and stil earned 40% profit on the cost she bought the Minaudière for.
In the first column, select for Cost Price, the amount that Sophia originally bought the Minaudière for. In the second column, select for Marked Price, the original selling price of the Minaudière, prior to any discount. Make only two selections, one in each column.
In the first column, select for Cost Price, the amount that Sophia originally bought the Minaudière for. In the second column, select for Marked Price, the original selling price of the Minaudière, prior to any discount. Make only two selections, one in each column.
| Cost Price | Marked Price | Amount |
| $80 | ||
| $100 | ||
| $112 | ||
| $200 | ||
| $300 |
ShowHide Answer
Official Answer
Cost Price: $80
Marked Price: $200
14 May 2024, 11:04
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Let’s say the marked selling price was P.
After successive discounts of 30% and 20%, the actual selling price was 0.7*0.8*P = 0.56*P
This was 40% over the cost C, of the Minaudière.
So, C = (0.56*P)/1.4 = 0.4*P
That means, C:P = 2:5
The only option choices that show a 2:5 ratio are $80 and $200. So, C = $80 and P = $200.
After successive discounts of 30% and 20%, the actual selling price was 0.7*0.8*P = 0.56*P
This was 40% over the cost C, of the Minaudière.
So, C = (0.56*P)/1.4 = 0.4*P
That means, C:P = 2:5
The only option choices that show a 2:5 ratio are $80 and $200. So, C = $80 and P = $200.
06 Nov 2024, 12:23
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1. The question asks us to find the Marked Price (original selling price) and the Cost Price (original buying price).
2. The first two discounts mean that the Marked Price went to \(0.7 * 0.8 * \)Marked Price.
3. Sophia earned a 40% profit with this cost, so, \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price.
4. There is no more information, so let's find the ratio and see for which answers it matches up: \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price \(\rightarrow \frac{Marked \ Price}{Cost \ Price} = \frac{1.4}{0.7 * 0.8} = 2.5\).
5. Looking at our possible answers, only \(\frac{$200}{$80}\) is equal to 2.5. So, our answer is: Cost Price = $80 and Marked Price = $200.
2. The first two discounts mean that the Marked Price went to \(0.7 * 0.8 * \)Marked Price.
3. Sophia earned a 40% profit with this cost, so, \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price.
4. There is no more information, so let's find the ratio and see for which answers it matches up: \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price \(\rightarrow \frac{Marked \ Price}{Cost \ Price} = \frac{1.4}{0.7 * 0.8} = 2.5\).
5. Looking at our possible answers, only \(\frac{$200}{$80}\) is equal to 2.5. So, our answer is: Cost Price = $80 and Marked Price = $200.
