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jlgdr
Joined: 06 Sep 2013
Last visit: 24 Jul 2015
Posts: 1,311
Given Kudos: 355
Concentration: Finance
Schools: Wharton '17 (A) HBS '17 (WA$)
11 Oct 2013, 17:28
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B
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Difficulty:
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Question Stats:
91% (01:22) correct
9%
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The original retail price of an appliance was 60 percent more than its wholesale cost. If the appliance was actually sold for 20 percent less than the original retail price, then it was sold for what percent more than its wholesale cost?
(A) 20%
(B) 28%
(C) 36%
(D) 40%
(E) 42%
(A) 20%
(B) 28%
(C) 36%
(D) 40%
(E) 42%
sashiim20
Joined: 04 Dec 2015
Last visit: 05 Jun 2024
Posts: 609
Given Kudos: 276
Location: India
Concentration: Technology, Strategy
Schools: ISB '19 IIMB IIMA XLRI HEC Sept19 intake Rotman '21 NUS '21 NTU '20 Trinity MBA '20 Bocconi '21 Smurfit "21
WE:Information Technology (Consulting)
Schools: ISB '19 IIMB IIMA XLRI HEC Sept19 intake Rotman '21 NUS '21 NTU '20 Trinity MBA '20 Bocconi '21 Smurfit "21
Posts: 609
17 May 2017, 05:52
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The original retail price of an appliance was 60 percent more than its wholesale cost. If the appliance was actually sold for 20 percent less than the original retail price, then it was sold for what percent more than its wholesale cost?
(A) 20%
(B) 28%
(C) 36%
(D) 40%
(E) 42%
Let Wholesale cost be = 100
Original retail price = 60% more than wholesale cost = 160% of 100 = \(\frac{160}{100}\) x 100 = 160
Selling price = 20% less than original retail price = 80% of 160 = \(\frac{80}{100}\) x 160 = 128
Difference between Wholesale Cost and Selling price = 128 - 100 = 28
Percent change = Difference in cost / initial cost x 100 = \(\frac{28}{100}\) x 100 = 28%
Answer B...
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(A) 20%
(B) 28%
(C) 36%
(D) 40%
(E) 42%
Let Wholesale cost be = 100
Original retail price = 60% more than wholesale cost = 160% of 100 = \(\frac{160}{100}\) x 100 = 160
Selling price = 20% less than original retail price = 80% of 160 = \(\frac{80}{100}\) x 160 = 128
Difference between Wholesale Cost and Selling price = 128 - 100 = 28
Percent change = Difference in cost / initial cost x 100 = \(\frac{28}{100}\) x 100 = 28%
Answer B...
_________________
Kindly press "+1 Kudos" to appreciate
General Discussion
11 Oct 2013, 17:48
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jlgdr
{wholesale cost} = 100;
{original price} = 100*1.6 = 160;
{actual price} = 160*0.8 = 128.
Answer: B.
