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# The price of the car includes a 20% mark-up. By what percent

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Manager
Joined: 09 Oct 2008
Posts: 93
The price of the car includes a 20% mark-up. By what percent [#permalink]

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17 Oct 2008, 06:14
The price of the car includes a 20% mark-up. By what percent will the price of the car be reduced if the mark-up is cut by half?

What does it mean by " includes a 20%.."

Say Total price of car is 100 then distribution will be 80 + 20 ? or 80 +16?

Thanks

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Manager
Joined: 15 Apr 2008
Posts: 159

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17 Oct 2008, 06:24
vishalgc wrote:
The price of the car includes a 20% mark-up. By what percent will the price of the car be reduced if the mark-up is cut by half?

What does it mean by " includes a 20%.."

Say Total price of car is 100 then distribution will be 80 + 20 ? or 80 +16?

Thanks

my understanding is that say cost price is 100 then selling price will be 120
if the markup is reduced by half i.e 10% then the new selling price will be 110 and the percent by which the price of the car is reduced will be 10/120*100=8.33%

lets see what others have to say
Manager
Joined: 09 Jul 2007
Posts: 240

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17 Oct 2008, 06:27
The price of the car includes a 20% mark-up = > if the actual price is 100 then the price including the mark up will be 120 .
Now , mark up is reduced by 1/2 , so the price of the car will be 110 ; so the decrease in the price will be 10/120 = 8.33 %
Manager
Joined: 09 Oct 2008
Posts: 93

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17 Oct 2008, 07:11

I think more i practice more i confused..

Thanks

--== 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.
Re: Price of Car   [#permalink] 17 Oct 2008, 07:11
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# The price of the car includes a 20% mark-up. By what percent

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