Last visit was: 14 Dec 2024, 11:52 It is currently 14 Dec 2024, 11:52
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
User avatar
mangamma
Joined: 25 Dec 2018
Last visit: 12 Jul 2023
Posts: 509
Own Kudos:
1,640
 []
Given Kudos: 994
Location: India
Concentration: General Management, Finance
GMAT Date: 02-18-2019
GPA: 3.4
WE:Engineering (Consulting)
Posts: 509
Kudos: 1,640
 []
1
Kudos
Add Kudos
2
Bookmarks
Bookmark this Post
User avatar
eabhgoy
Joined: 12 Apr 2011
Last visit: 14 Jan 2021
Posts: 112
Own Kudos:
Given Kudos: 85
Location: United Arab Emirates
Concentration: Strategy, Marketing
GMAT 1: 670 Q50 V31
GMAT 2: 720 Q50 V37
GPA: 3.2
WE:Marketing (Telecommunications)
GMAT 2: 720 Q50 V37
Posts: 112
Kudos: 230
Kudos
Add Kudos
Bookmarks
Bookmark this Post
User avatar
CrackverbalGMAT
User avatar
GMAT Club Legend
Joined: 03 Oct 2013
Last visit: 14 Dec 2024
Posts: 4,877
Own Kudos:
8,148
 []
Given Kudos: 224
Affiliations: CrackVerbal
Location: India
Posts: 4,877
Kudos: 8,148
 []
2
Kudos
Add Kudos
Bookmarks
Bookmark this Post
User avatar
KarishmaB
Joined: 16 Oct 2010
Last visit: 14 Dec 2024
Posts: 15,547
Own Kudos:
70,257
 []
Given Kudos: 449
Location: Pune, India
Expert reply
Active GMAT Club Expert! Tag them with @ followed by their username for a faster response.
Posts: 15,547
Kudos: 70,257
 []
1
Kudos
Add Kudos
1
Bookmarks
Bookmark this Post
mangamma
There was a series of two successive discounts of y% on the price of Laptop. The final price of the laptop was tagged at 64% of the original price. What is the value of y?

A) 18%
B) 20%
C) 24%
D) 36%
E) 82%


We know that two successive percentage changes of a% and b% are given by the formula: a + b + ab/100
This is discussed here: https://www.gmatclub.com/forum/veritas-prep-resource-links-no-longer-available-399979.html#/2011/0 ... e-changes/

Total percentage change = - y - y + y^2/100 = -36% (since the final price of the laptop is 64% of original)

Note that if y were 18%, the total discount would have been less than 2*18% = 36% due to the impact of the y^2/100 term.

So the value of y must be greater than 18%. 20% seems about right since y^2 term will have a small impact. Let's check.

-20 - 20 + (-20*-20)/100 = -36%

Answer (B)
User avatar
ScottTargetTestPrep
User avatar
Target Test Prep Representative
Joined: 14 Oct 2015
Last visit: 13 Dec 2024
Posts: 19,869
Own Kudos:
24,292
 []
Given Kudos: 288
Status:Founder & CEO
Affiliations: Target Test Prep
Location: United States (CA)
Expert reply
Active GMAT Club Expert! Tag them with @ followed by their username for a faster response.
Posts: 19,869
Kudos: 24,292
 []
1
Kudos
Add Kudos
1
Bookmarks
Bookmark this Post
mangamma
There was a series of two successive discounts of y% on the price of Laptop. The final price of the laptop was tagged at 64% of the original price. What is the value of y?

A) 18%
B) 20%
C) 24%
D) 36%
E) 82%

Let p = the original price of the laptop. We can create the equation:

p x (100- y)/100 x (100 - y)/100 = p x 64/100

(100 - y)^2/100^2 = 64/100

Multiplying both sides of the equation by 100^2, we have:

(100 - y)^2 = 64(100)

√[(100 - y)^2] = +/-√6400

100 - y = 80 or 100 - y = -80

y = 20 or y = 180

We ignore y = 180 because an item cannot be discounted more than 100%. Thus, y = 20.

Answer: B
User avatar
KSBGC
Joined: 31 Oct 2013
Last visit: 10 Mar 2022
Posts: 1,257
Own Kudos:
Given Kudos: 635
Concentration: Accounting, Finance
GPA: 3.68
WE:Analyst (Accounting)
Posts: 1,257
Kudos: 1,307
Kudos
Add Kudos
Bookmarks
Bookmark this Post
mangamma
There was a series of two successive discounts of y% on the price of Laptop. The final price of the laptop was tagged at 64% of the original price. What is the value of y?

A) 18%
B) 20%
C) 24%
D) 36%
E) 82%


Discounted price = 64%

Discount after 2 successive discounts = 100 - 64 = 46.

Let the price of the laptop be 100.

value of y is given as answer choices.

Option B) 20%

1st discount = 100 * 20% =20

2nd discount = 80 * 20% = 16

20 + 16 = 46 ( total discount )

Thus B is the correct answer.
User avatar
generis
User avatar
Senior SC Moderator
Joined: 22 May 2016
Last visit: 18 Jun 2022
Posts: 5,316
Own Kudos:
Given Kudos: 9,464
Products:
Expert reply
Posts: 5,316
Kudos: 36,320
Kudos
Add Kudos
Bookmarks
Bookmark this Post
KSBGC
mangamma
There was a series of two successive discounts of y% on the price of Laptop. The final price of the laptop was tagged at 64% of the original price. What is the value of y?

A) 18%
B) 20%
C) 24%
D) 36%
E) 82%
Discounted price = 64%

Discount after 2 successive discounts = 100 - 64 = 46.

Let the price of the laptop be 100.

value of y is given as answer choices.

Option B) 20%

1st discount = 100 * 20% =20

2nd discount = 80 * 20% = 16

20 + 16 = 46 ( total discount )

Thus B is the correct answer.
KSBGC , your post has two typos. I think that you mean 36, not 46. :)
User avatar
generis
User avatar
Senior SC Moderator
Joined: 22 May 2016
Last visit: 18 Jun 2022
Posts: 5,316
Own Kudos:
Given Kudos: 9,464
Products:
Expert reply
Posts: 5,316
Kudos: 36,320
Kudos
Add Kudos
Bookmarks
Bookmark this Post
mangamma
There was a series of two successive discounts of y% on the price of Laptop. The final price of the laptop was tagged at 64% of the original price. What is the value of y?

A) 18%
B) 20%
C) 24%
D) 36%
E) 82%
We can use answer choices and assign an easy number.

Let the laptop's original price = $100
After two successive y discounts, the price is 64% of that $100, so end price = $64
The difference, ($100 - $64) = $36
$36 = the summed dollar value of y at each stage.

That is, the two y discounts in dollars must total $36

Start with (C) to get a benchmark.
If it is too great, we also eliminate D and E, which are greater than C.
If (C) is too small, we eliminate A and B as well.

• Stage 1: Discount and changed price
C) y = 24%

24% of $100 = $24 = one of the y dollar amounts to keep
Actual price at end of Stage 1: ($100 - $24) = $76

• Stage 2: Discount and changed price

We are looking for a discount dollar amount of $12.
Total dollar discount = $36
Stage 1 discount = $24.
Stage 2 discount must therefore = $12

Another 24% must be taken off the new price of $76
• Two ways to handle "24% of $76"
(1) estimate.
24% is about 25% = \(\frac{1}{4}\)
\(\frac{1}{4}\) * $76 = $19
$19 is too great. We need only $12.
Total y + y discount = 24 + 19 = $43 (we need $36)

(2) Do the arithmetic. It's not bad.
24% of $76 = $18.24 = the second y dollar amounts

Add the two y discounts in dollars: $(24 + 18.24) = $42.24
Greater than $36.

y = 24% = Answer C is TOO great.

Eliminate C, D, and E

• Option A or B? Use B.
Choose the easier number. Only one of the options is correct.

• Stage 1 discount and changed price
B) y = 20%

20% of $100 = $20 = ONE y discount in dollars
New price: ($100 - $20) = $80

• Stage 2 discount and changed price

20% of new price of $80 = \((\frac{1}{5}*80)=$16\)

Total dollar discount from Stage 1 + Stage 2:
$(20 + 16) = $36

That's correct.
(As is end price: $100 - $36 = $64,
which is 64% of the original price we assigned,
just as the prompt requires.)

Answer B
User avatar
bumpbot
User avatar
Non-Human User
Joined: 09 Sep 2013
Last visit: 04 Jan 2021
Posts: 35,827
Own Kudos:
Posts: 35,827
Kudos: 930
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
Moderator:
Math Expert
97877 posts