GMAT Question of the Day: Daily via email | Daily via Instagram New to GMAT Club? Watch this Video

It is currently 19 Feb 2020, 20:00

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

The price of an item is discounted 10 percent on day 1 of a sale. On d

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 61302
The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 16 Jun 2019, 23:07
1
4
00:00
A
B
C
D
E

Difficulty:

  75% (hard)

Question Stats:

49% (01:38) correct 51% (01:18) wrong based on 112 sessions

HideShow timer Statistics

The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1?

A. 28%
B. 40%
C. 64.8%
D. 70%
E. 72%

_________________
Director
Director
avatar
P
Joined: 22 Nov 2018
Posts: 567
Location: India
GMAT 1: 640 Q45 V35
GMAT 2: 740 Q49 V41
GMAT ToolKit User Premium Member
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 16 Jun 2019, 23:13
D1= 90%
D2= 90%*.9=81%
D3=81%*.8= 64.8%

D3/D1= 64.8/90=72% IMO E

Posted from my mobile device
VP
VP
User avatar
D
Joined: 31 Oct 2013
Posts: 1491
Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 16 Jun 2019, 23:17
Bunuel wrote:
The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1?

A. 28%
B. 40%
C. 64.8%
D. 70%
E. 72%



Let the initial price be 100

Day 1 : 100 * 0.9 = 90

Day 2 : 90 * 0.9 = 81

Day 3 : 81 * 0.8 = 64.8.

Required % : (price of day 3 / price of day 1)*100 = (64.8 / 90) * 100 = 72 .

E is the correct answer.
GMAT Club Legend
GMAT Club Legend
User avatar
V
Joined: 18 Aug 2017
Posts: 5940
Location: India
Concentration: Sustainability, Marketing
GPA: 4
WE: Marketing (Energy and Utilities)
GMAT ToolKit User Reviews Badge CAT Tests
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 17 Jun 2019, 07:44
Bunuel wrote:
The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1?

A. 28%
B. 40%
C. 64.8%
D. 70%
E. 72%


intial 100$
day 1= 90$
day 2= 81 $
day 3 = 64.8$
so % of day 3 of day 1= 64.8/90 ; 72%
IMO E
Target Test Prep Representative
User avatar
V
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 9426
Location: United States (CA)
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 05 Oct 2019, 16:00
Bunuel wrote:
The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1?

A. 28%
B. 40%
C. 64.8%
D. 70%
E. 72%



If n = original price, then with all the discounts, the price of the item is:

n(0.9)(0.9)(0.8) = 0.648n

Thus, the answer is 0.648/0,.9 = 0.72 = 72%

Answer: E
_________________

Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
TTP - Target Test Prep Logo
181 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

Intern
Intern
avatar
S
Joined: 19 Jul 2018
Posts: 35
Location: France
Concentration: Economics, Nonprofit
Schools: ESSEC '22
GMAT 1: 680 Q47 V35
WE: Analyst (Manufacturing)
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 17 Jan 2020, 06:52
The question asks for the percentage of the price in day 3 to the price in day 1.
Therefore, if P1 and P3 are the prices of the item in day 1 and 3 respectively, we need to answer P3/P1. We can see that we actually dont care about the price reduction in the first day since the answer will not depend on that. We can just see that between the first and the second day the price was lowered by 10% and then by 20%. Therefore the answer will be 0.9*0.8=72%.

Therefore the option E is the answer. I dont see the reason to do the intermediate steps that other solutions propose. Its just adding math without needing it.
Board of Directors
User avatar
D
Status: QA & VA Forum Moderator
Joined: 11 Jun 2011
Posts: 4842
Location: India
GPA: 3.5
WE: Business Development (Commercial Banking)
GMAT ToolKit User
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d  [#permalink]

Show Tags

New post 17 Jan 2020, 07:53
Bunuel wrote:
The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1?

A. 28%
B. 40%
C. 64.8%
D. 70%
E. 72%

\(100*\frac{90}{100}*\frac{90}{100}*\frac{80}{100}=64.8\)

Quote:
The price of the item on day 3 is what percentage of the sale price on day 1?


\(= \frac{64.80}{90}*100\)

\(= 72\), Answer must be (E)
_________________
Thanks and Regards

Abhishek....

PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS

How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only )
GMAT Club Bot
Re: The price of an item is discounted 10 percent on day 1 of a sale. On d   [#permalink] 17 Jan 2020, 07:53
Display posts from previous: Sort by

The price of an item is discounted 10 percent on day 1 of a sale. On d

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





Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne