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The price of a toy was $239. if the price was first reduced by 20 perc

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The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post 23 Sep 2018, 23:31
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Question Stats:

62% (00:58) correct 38% (01:58) wrong based on 39 sessions

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The price of a toy was $239. if the price was first reduced by 20 percent and then increased by 20 percent. Which of the following represents the final percent change in the price of the toy?

(A) 36%
(B) 40%
(C) 64%
(D) 80%
(E) 96%

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The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post Updated on: 24 Sep 2018, 05:18
Bunuel wrote:
The price of a toy was $239. if the price was first reduced by 20 percent and then increased by 20 percent. Which of the following represents the final percent change in the price of the toy?

(A) 36%
(B) 40%
(C) 64%
(D) 80%
(E) 96%


Let, Price initially = 100

AFter reduction of 20% = 80

AFter increase of 20% = 80+20% of 80 = 96

Bunuel Here $239 is redundant as well as as mentioned by someone else, %change should be 4%... Please validate

Answer: Option E
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Originally posted by GMATinsight on 24 Sep 2018, 03:31.
Last edited by GMATinsight on 24 Sep 2018, 05:18, edited 1 time in total.
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Re: The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post 24 Sep 2018, 04:23
GMATinsight wrote:
Bunuel wrote:
The price of a toy was $239. if the price was first reduced by 20 percent and then increased by 20 percent. Which of the following represents the final percent change in the price of the toy?

(A) 36%
(B) 40%
(C) 64%
(D) 80%
(E) 96%


Let, Price initially = 100

AFter reduction of 20% = 80

AFter increase of 20% = 80+20% of 80 = 96%

Answer: Option E


But 96 is not the change. 4% is the change. P1= 100 p2= 96 the change is 4% isn't it?
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Re: The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post 02 Oct 2018, 04:17
Bunuel wrote:
The price of a toy was $239. if the price was first reduced by 20 percent and then increased by 20 percent. Which of the following represents the final percent change in the price of the toy?

(A) 36%
(B) 40%
(C) 64%
(D) 80%
(E) 96%


Bunuel

Please confirm-As mentioned by others answer should be 4%.
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Re: The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post 02 Oct 2018, 07:27
I think below explained theory is more important to solve such kind of questions just to ensure that we understand the concept and can save time. This is a question of successive percentage change. If any given number is changed by x% and then the resultant number is further changed by y%, the overall change in original number can be calculated by x+y+x*y/100, where x and y takes the appropriate sign based on increase or decrease.

In our question, the number is first reduced by 20 percent => x= -20%
and then increased by 20 percent => y = 20%

Overall change = -20+20-20*20/100 = -4%

=> Resultant price is 96% of original price.
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Re: The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post 02 Oct 2018, 07:41
neelesh1508 wrote:
I think below explained theory is more important to solve such kind of questions just to ensure that we understand the concept and can save time. This is a question of successive percentage change. If any given number is changed by x% and then the resultant number is further changed by y%, the overall change in original number can be calculated by x+y+x*y/100, where x and y takes the appropriate sign based on increase or decrease.

In our question, the number is first reduced by 20 percent => x= -20%
and then increased by 20 percent => y = 20%

Overall change = -20+20-20*20/100 = -4%

=> Resultant price is 96% of original price.



The qs asks for % change and not resultant price. Answer has to be 4% unless I have misread the language.
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Re: The price of a toy was $239. if the price was first reduced by 20 perc  [#permalink]

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New post 03 Oct 2018, 16:55
Bunuel wrote:
The price of a toy was $239. if the price was first reduced by 20 percent and then increased by 20 percent. Which of the following represents the final percent change in the price of the toy?

(A) 36%
(B) 40%
(C) 64%
(D) 80%
(E) 96%


Since the price is decreased by 20% and then increased by 20%, the new price is:

239 x 0.8 x 1.2 = 239 x 0.96

We see the new price is 96% of the original price.

Answer: E
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Re: The price of a toy was $239. if the price was first reduced by 20 perc &nbs [#permalink] 03 Oct 2018, 16:55
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