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23 Apr 2018, 00:39
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
95% (01:24) correct
5%
(01:09)
wrong
based on 75
sessions
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Not Attempted Yet
The original price of an antique armoire was 30 percent less than the armoire’s suggested retail price of $1,500. The price at which the armoire was sold was 30 percent more than the original price. What is the price at which the armoire was sold?
(A) $1,050
(B) $1,275
(C) $1,365
(D) $1,500
(E) $1,950
(A) $1,050
(B) $1,275
(C) $1,365
(D) $1,500
(E) $1,950
DianaKornaeva
23 Apr 2018, 00:50
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OA is C
original price was 30% less than suggested retail price of $1,500, hence $1,500*0.7= $1050. The price at which the armoire was sold was 30% more than $1050, which means it was sold $1050*1.3=$1365
original price was 30% less than suggested retail price of $1,500, hence $1,500*0.7= $1050. The price at which the armoire was sold was 30% more than $1050, which means it was sold $1050*1.3=$1365
23 Apr 2018, 07:04
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Bunuel
The trap answer here is (D). If you have an original number that decreases by X% and then increases by X%, you do not arrive at the original number.
In successive percent change problems, you can multiply the multipliers. Take that result and multiply by original (here, $1,500)
Multipliers, percent decrease and increase:
"30 percent less than": (1 - .30) = .70 = .7
"30 percent more than": (1 + .30) = 1.3
1) Multiply the multipliers: (.7 * 1.3) = .91
2) Multiply by original suggested price, $1,500: (.91 * $1,500) = $1,365
Answer C
