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Mon Jan 29, 2024 12:26 am
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B
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Difficulty:
15%
(low)
Question Stats:
87% (02:18) correct
13%
(02:57)
wrong
based on 589
sessions
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After an appliance store decreased the selling price of a certain hot-water heater, the store's gross profit on the heater decreased from 20 percent of the cost of the heater to 5 percent of the cost of the heater. If the cost of the heater remained the same, then the new selling price was what percent of the old selling price?
A. 90%
B. 87.5%
C. 85%
D. 82.5%
E. 80%
2024-01-29_12-22-34.png [ 54.88 KiB | Viewed 9287 times ]
A. 90%
B. 87.5%
C. 85%
D. 82.5%
E. 80%
Attachment:
2024-01-29_12-22-34.png [ 54.88 KiB | Viewed 9287 times ]
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Mon Jan 29, 2024 12:31 am
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guddo
Assuming the cost is $100, then the old selling price becomes $120, and the new selling price becomes $105. Hence, essentially, we need to find the value of 105/120 * 100, which simplifies to 7/8 * 100 = 7/2 * 25 = 3.5*25 = 87.5%.
Answer: B.
General Discussion
Mon Jan 29, 2024 9:18 am
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CP-SP = .20* SP
CP-SP'= .05*SP'
CP= 1.2SP
CP = 1.05SP'
1.2SP = 1.05 SP'
SP'/SP = 1.05/1.2 0 ; .875 ; 87.5%
option B
CP-SP'= .05*SP'
CP= 1.2SP
CP = 1.05SP'
1.2SP = 1.05 SP'
SP'/SP = 1.05/1.2 0 ; .875 ; 87.5%
option B
guddo
