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

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

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New post 17 Oct 2008, 06:14
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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?

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Re: Price of Car [#permalink]

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New post 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

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Re: Price of Car [#permalink]

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New post 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 %

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Re: Price of Car [#permalink]

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New post 17 Oct 2008, 07:11
yes 8.33 is right answer..

I think more i practice more i confused.. :(

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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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