Events & Promotions
|
|
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
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Jun 1111:00 AM EDT
-01:00 PM EDT
TTP GMAT OnDemand gives serious students 400+ hours of expert video instruction, the full TTP course, AI support, weekly office hours, and a 715+ score guarantee—all built for elite GMAT score improvement.
Jun 1006:00 AM PDT
-06:15 PM PDT
Register for the GMAT Club Virtual MBA Spotlight Fair – the world’s premier event for serious MBA candidates. This is your chance to hear directly from Admissions Directors at nearly every Top 30 MBA program..
Jun 2207:30 PM EDT
-09:30 PM EDT
Master the GMAT with expert live instruction, a personalized study plan, and real-time support. Includes 40 hours of online classes plus 6 months of access to the TTP GMAT OnDemand video course. Class date: Mon/Wed June 22, 2026 →August 26, 2026
18 Mar 2024, 22:55
Kudos
Bookmarks
Cost Price: $80
Marked Price: $200
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
68% (02:33) correct
32%
(03:06)
wrong
based on 1243
sessions
History
Date
Time
Result
Not Attempted Yet
Sophia runs a retail store selling women's luxury apparel. In her stock clearance sale, she offered two successive discounts of 30% and 20%. On a premium Minaudière, she offered the same discount and stil earned 40% profit on the cost she bought the Minaudière for.
In the first column, select for Cost Price, the amount that Sophia originally bought the Minaudière for. In the second column, select for Marked Price, the original selling price of the Minaudière, prior to any discount. Make only two selections, one in each column.
In the first column, select for Cost Price, the amount that Sophia originally bought the Minaudière for. In the second column, select for Marked Price, the original selling price of the Minaudière, prior to any discount. Make only two selections, one in each column.
| Cost Price | Marked Price | Amount |
| $80 | ||
| $100 | ||
| $112 | ||
| $200 | ||
| $300 |
ShowHide Answer
Official Answer
Cost Price: $80
Marked Price: $200
14 May 2024, 11:04
Kudos
Bookmarks
Let’s say the marked selling price was P.
After successive discounts of 30% and 20%, the actual selling price was 0.7*0.8*P = 0.56*P
This was 40% over the cost C, of the Minaudière.
So, C = (0.56*P)/1.4 = 0.4*P
That means, C:P = 2:5
The only option choices that show a 2:5 ratio are $80 and $200. So, C = $80 and P = $200.
After successive discounts of 30% and 20%, the actual selling price was 0.7*0.8*P = 0.56*P
This was 40% over the cost C, of the Minaudière.
So, C = (0.56*P)/1.4 = 0.4*P
That means, C:P = 2:5
The only option choices that show a 2:5 ratio are $80 and $200. So, C = $80 and P = $200.
06 Nov 2024, 12:23
Kudos
Bookmarks
1. The question asks us to find the Marked Price (original selling price) and the Cost Price (original buying price).
2. The first two discounts mean that the Marked Price went to \(0.7 * 0.8 * \)Marked Price.
3. Sophia earned a 40% profit with this cost, so, \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price.
4. There is no more information, so let's find the ratio and see for which answers it matches up: \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price \(\rightarrow \frac{Marked \ Price}{Cost \ Price} = \frac{1.4}{0.7 * 0.8} = 2.5\).
5. Looking at our possible answers, only \(\frac{$200}{$80}\) is equal to 2.5. So, our answer is: Cost Price = $80 and Marked Price = $200.
2. The first two discounts mean that the Marked Price went to \(0.7 * 0.8 * \)Marked Price.
3. Sophia earned a 40% profit with this cost, so, \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price.
4. There is no more information, so let's find the ratio and see for which answers it matches up: \(0.7 * 0.8 * \)Marked Price = \(1.4 * \)Cost Price \(\rightarrow \frac{Marked \ Price}{Cost \ Price} = \frac{1.4}{0.7 * 0.8} = 2.5\).
5. Looking at our possible answers, only \(\frac{$200}{$80}\) is equal to 2.5. So, our answer is: Cost Price = $80 and Marked Price = $200.
