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Updated on: 13 Aug 2018, 05:22
Originally posted by EgmatQuantExpert on 20 Jun 2018, 01:49.
Last edited by EgmatQuantExpert on 13 Aug 2018, 05:22, edited 3 times in total.
Last edited by EgmatQuantExpert on 13 Aug 2018, 05:22, edited 3 times in total.
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B
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% (01:16) correct
5%
(01:36)
wrong
based on 204
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3 Must Learn Applications of Percentages - Exercise Question #2
2- A publication company launched two special magazines M1 and M2 at the same retail price of $10. On M1, two successive discounts of 10% and 20% was given, whereas M2 was offered at a single discount of 30%. What is the difference between the final selling prices of M1 and M2?
Options
A) 0
B) 20 cents
C) 40 cents
D) 60 cents
E) 80 cents
To solve question 3: Question 3
To read the article: 3 Must Learn Applications of Percentages
Read More about Percentages and its application
Article-1: 3 Major Concerns Students Face in Solving Percentage Problems
2- A publication company launched two special magazines M1 and M2 at the same retail price of $10. On M1, two successive discounts of 10% and 20% was given, whereas M2 was offered at a single discount of 30%. What is the difference between the final selling prices of M1 and M2?
Options
A) 0
B) 20 cents
C) 40 cents
D) 60 cents
E) 80 cents
To solve question 3: Question 3
To read the article: 3 Must Learn Applications of Percentages
Read More about Percentages and its application
Article-1: 3 Major Concerns Students Face in Solving Percentage Problems
Updated on: 23 Jun 2018, 11:32
Originally posted by EgmatQuantExpert on 20 Jun 2018, 01:52.
Last edited by EgmatQuantExpert on 23 Jun 2018, 11:32, edited 1 time in total.
Last edited by EgmatQuantExpert on 23 Jun 2018, 11:32, edited 1 time in total.
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Solution
Given:
- • A publication company launched two special magazines M1 and M2 at the same retail price of $10
• On M1, two successive discounts of 10% and 20% were given
• On M2, one single discount of 30% was given
To find:
- • The difference between the final selling prices of M1 and M2
Approach and Working:
The initial launch price of both M1 and M2 is $10
As there are two successive discounts of 10% and 20% were given in M1,
- • The cumulative price change = \((-10) + (-20) + \frac{(-10)(-20)}{100} = -30 + 2\)= -28%
The single discount on the price of M2 = 30%
As the initial launch prices of both M1 and M2 are same as $10,
- • The difference in price after the discount = (30% - 28%) of $10 = 2% of $10 = $0.2 = 20 cents
Hence, the correct answer is option B.
Answer: B
20 Jun 2018, 02:59
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Cost of M1 = 10$
Cost of M2 = 10$
M1 is given successive discounts of 10% and 20%
So final selling price of M1 = 10*(1-0.1)*(1-0.2) = 10*0.9*0.8 = 7.2$
M2 is given 30% discount.
Final selling price of M2 = 10*(1-0.3) = 10*0.7 = 7$
Difference = 7.2$ - 7$ = 0.2$ = 20cents
Cost of M2 = 10$
M1 is given successive discounts of 10% and 20%
So final selling price of M1 = 10*(1-0.1)*(1-0.2) = 10*0.9*0.8 = 7.2$
M2 is given 30% discount.
Final selling price of M2 = 10*(1-0.3) = 10*0.7 = 7$
Difference = 7.2$ - 7$ = 0.2$ = 20cents
