The original retail price of an appliance was 60 percent

Question

The original retail price of an appliance was 60 percent more than its wholesale cost. If the appliance was actually sold for 20 percent less than the original retail price, then it was sold for what percent more than its wholesale cost?

(A) 20%
(B) 28%
(C) 36%
(D) 40%
(E) 42%

(A) 20% 
(B) 28% 
(C) 36% 
(D) 40% 
(E) 42%

sashiim20 · Accepted Answer

The original retail price of an appliance was 60 percent more than its wholesale cost. If the appliance was actually sold for 20 percent less than the original retail price, then it was sold for what percent more than its wholesale cost?

(A) 20%
(B) 28%
(C) 36%
(D) 40%
(E) 42%

Let Wholesale cost be = 100
Original retail price = 60% more than wholesale cost = 160% of 100 = \(\frac{160}{100}\) x 100 = 160
Selling price = 20% less than original retail price = 80% of 160 = \(\frac{80}{100}\) x 160 = 128
Difference between Wholesale Cost and Selling price = 128 - 100 = 28
Percent change = Difference in cost / initial cost x 100 = \(\frac{28}{100}\) x 100 = 28%
Answer B...

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Bunuel · Answer

{wholesale cost} = 100;
{original price} = 100*1.6 = 160;
{actual price} = 160*0.8 = 128.

Answer: B.

ScottTargetTestPrep · Answer

If we let the wholesale cost of the appliance = w, then the original retail price = 1.6w.

If the appliance was sold for 20% less than the original retail price, the appliance was sold for 0.8(1.6w) = 1.28w, or 1.28w - w = 0.28w, or 28% more than the wholesale cost.

Answer: B

MathRevolution · Answer

Let the wholesale cost: 100

Original retail price ( 60% more): 100 *  \frac{160}{100}  = 160

If sold on 20% less of original price:160 *  \frac{80}{100}  = 128

Then it is 28% more than the wholesale cost.

Answer B

Abhishek009 · Answer

W = 100
R = 160
S = 128

Thus, the item was sold at 28% above wholesale cost, Answer must be (B)

bumpbot · Answer

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The original retail price of an appliance was 60 percent

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The original retail price of an appliance was 60 percent

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