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# The cost of an item was reduced from its usual selling price

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Senior RC Moderator
Status: It always seems impossible until it's done!!
Joined: 29 Aug 2012
Posts: 1174
Location: India
WE: General Management (Aerospace and Defense)
The cost of an item was reduced from its usual selling price [#permalink]

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14 Jul 2014, 09:50
1
00:00

Difficulty:

5% (low)

Question Stats:

79% (00:46) correct 21% (00:42) wrong based on 91 sessions

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The cost of an item was reduced from its usual selling price of $23.99 to$18.99. Which of the following is closest to the percent decrease in the price of the item?

A. 17%
B. 21%
C. 24%
D. 25%
E. 42%

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Posts: 46991
Re: The cost of an item was reduced from its usual selling price [#permalink]

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14 Jul 2014, 10:39
Gnpth wrote:
The cost of an item was reduced from its usual selling price of $23.99 to$18.99. Which of the following is closest to the percent decrease in the price of the item?

A. 17%
B. 21%
C. 24%
D. 25%
E. 42%

The price decreased by 23.99 - 8.99 = $5.$5 is a bit more than 20% of original price of \$24.

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Re: The cost of an item was reduced from its usual selling price [#permalink]

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15 Jul 2014, 21:48
2
Percentage reduction$$= \frac{23.99-18.99}{23.99} * 100 = 20.9 = 21$$

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Re: The cost of an item was reduced from its usual selling price [#permalink]

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11 Sep 2017, 16:50
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: The cost of an item was reduced from its usual selling price   [#permalink] 11 Sep 2017, 16:50
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