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16 Sep 2014, 01:05
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If the price of a car includes a 20% mark-up, by what percent will the price of the car be reduced if the mark-up is cut in half?
A. \(5\)
B. \(8 \frac{1}{3}\)
C. \(12\)
D. \(14 \frac{1}{3}\)
E. \(15 \frac{2}{3}\)
A. \(5\)
B. \(8 \frac{1}{3}\)
C. \(12\)
D. \(14 \frac{1}{3}\)
E. \(15 \frac{2}{3}\)
16 Sep 2014, 01:05
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Official Solution:
If the price of a car includes a 20% mark-up, by what percent will the price of the car be reduced if the mark-up is cut in half?
A. \(5\)
B. \(8 \frac{1}{3}\)
C. \(12\)
D. \(14 \frac{1}{3}\)
E. \(15 \frac{2}{3}\)
Let \(x\) be the cost of the car. With a 20% mark-up, the price becomes \(1.2x\). By halving the mark-up, the price becomes \(1.1x\). This is a reduction of \(\frac{1.2x - 1.1x}{1.2x} *100\%= \frac{1}{12}*100\% = 8 \frac{1}{3}\%\).
Answer: B
If the price of a car includes a 20% mark-up, by what percent will the price of the car be reduced if the mark-up is cut in half?
A. \(5\)
B. \(8 \frac{1}{3}\)
C. \(12\)
D. \(14 \frac{1}{3}\)
E. \(15 \frac{2}{3}\)
Let \(x\) be the cost of the car. With a 20% mark-up, the price becomes \(1.2x\). By halving the mark-up, the price becomes \(1.1x\). This is a reduction of \(\frac{1.2x - 1.1x}{1.2x} *100\%= \frac{1}{12}*100\% = 8 \frac{1}{3}\%\).
Answer: B
04 Oct 2016, 17:43
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how will the markup be 1.1x after reducing to half?
