It is currently 14 Dec 2017, 18:48

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

Events & Promotions in June
Open Detailed Calendar

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

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Intern
Intern
avatar
Joined: 03 Sep 2017
Posts: 5

Kudos [?]: 3 [0], given: 12

CAT Tests
The marked price of a garment is 100% higher than the cost price. If [#permalink]

Show Tags

New post 21 Nov 2017, 14:05
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

100% (01:25) correct 0% (00:00) wrong based on 4 sessions

HideShow timer Statistics

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
[Reveal] Spoiler: OA

Kudos [?]: 3 [0], given: 12

1 KUDOS received
VP
VP
avatar
P
Joined: 22 May 2016
Posts: 1131

Kudos [?]: 402 [1], given: 645

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

Show Tags

New post 21 Nov 2017, 14:58
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

Answer A

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

Kudos [?]: 402 [1], given: 645

Re: The marked price of a garment is 100% higher than the cost price. If   [#permalink] 21 Nov 2017, 14:58
Display posts from previous: Sort by

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

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


GMAT Club MBA Forum Home| About| Terms and Conditions| 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®.