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# The marked price of a garment is 100% higher than the cost price. If

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Joined: 03 Sep 2017
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The marked price of a garment is 100% higher than the cost price. If [#permalink]

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21 Nov 2017, 15:05
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100% (01:25) correct 0% (00:00) wrong based on 4 sessions

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How to solve the question below using sucessive discounts formula?

The marked price of a garment is 100% higher than the cost price. If it is sold at a price of $112 after applying successive discounts of 20% and 30% on the marked price, what is the profit (in dollars) obtained by selling the garment? A) 12 B) 32 C) 54 D) 88 E) 100 --== Message from GMAT Club Team ==-- This is not a quality discussion. It has been retired. If you would like to discuss this question please re-post it in the respective forum. Thank you! To review the GMAT Club's Forums Posting Guidelines, please follow these links: Quantitative | Verbal Please note - we may remove posts that do not follow our posting guidelines. Thank you. SC Moderator Joined: 22 May 2016 Posts: 1677 Re: The marked price of a garment is 100% higher than the cost price. If [#permalink] ### Show Tags 21 Nov 2017, 15:58 1 This post received KUDOS vitorcbarbieri wrote: How to solve the question below using sucessive discounts formula? The marked price of a garment is 100% higher than the cost price. If it is sold at a price of$112 after applying successive discounts of 20% and 30% on the marked price, what is the profit (in dollars) obtained by selling the garment?

A) 12
B) 32
C) 54
D) 88
E) 100

vitorcbarbieri - The question is a little confusing. There are two sell prices: one before the discount ("marked price") the other, after the discount.

The "marked price" gives you the cost of the item. Discounted price gives you the profit. And you derive the marked price from the discount price.

Actual discounted price yields original price

Marked price before successive discounts of 20 and 30 percent?

(I think the following formula is what you're after. Not positive.)*

(a + b + $$\frac{ab}{100})$$ percent

$$(20 + 30 + \frac{600}{100})$$ percent

$$(20 + 30 + 6) = 56$$ percent

The discounted price is 56% of original marked price, call it x

$112 = .56x $$\frac{112}{(\frac{56}{100})}= 112 *\frac{100}{56}=200$$ = original price Cost price? The marked price is 100% higher than the cost price, c.$200 = c + $$\frac{100}{100}$$c = 2c
$200 = 2c c =$100

Profit?
Sell Price - Cost Price
$112 - 100 =$12

Hope it helps.

*You can also derive this discount percentage by taking: 1) first discount: 1 - .20 = .80; 2) second discount: 1 - .30 = .70. Multiply them: (.8 * .7) = .56

--== Message from GMAT Club Team ==--

This is not a quality discussion. It has been retired.

If you would like to discuss this question please re-post it in the respective forum. Thank you!

To review the GMAT Club's Forums Posting Guidelines, please follow these links: Quantitative | Verbal Please note - we may remove posts that do not follow our posting guidelines. Thank you.

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Re: The marked price of a garment is 100% higher than the cost price. If   [#permalink] 21 Nov 2017, 15:58
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