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mangamma
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A shopkeeper offers two successive discounts of 20% each on a sweater 17 Jun 2019, 06:38
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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:

65% (hard)

Question Stats:

63% (02:00) correct 37% (02:11) wrong based on 374 sessions

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A shopkeeper offers two successive discounts of 20% each on a sweater and still makes a profit of 60%. By what percentage did the shopkeeper mark-up the price of the sweater?

A) 60%

B)100%

C)150%

D)200%

E)250%
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C
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chetan2u
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GMAT Focus 1: 735 Q90 V89 DI81
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A shopkeeper offers two successive discounts of 20% each on a sweater 17 Jun 2019, 07:35
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mangamma
A shopkeeper offers two successive discounts of 20% each on a sweater and still makes a profit of 60%. By what percentage did the shopkeeper mark-up the price of the sweater?

A) 60%

B)100%

C)150%

D)200%

E)250%
Show more

Let the cost price be 100.
1) first profit of 60%= 160
2) this is (100-20)% of (100-20)% of marked price or m..
So 160=0.8*0.8*m.....0.8m=200....m=250.

So m is 250-100=150 over 100..
As a %, m is 150/100*100=150%

C
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mangamma
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A shopkeeper offers two successive discounts of 20% each on a sweater 17 Jun 2019, 08:05
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chetan2u
mangamma
A shopkeeper offers two successive discounts of 20% each on a sweater and still makes a profit of 60%. By what percentage did the shopkeeper mark-up the price of the sweater?

A) 60%

B)100%

C)150%

D)200%

E)250%

Let the cost price be 100.
1) first profit of 60%= 160
2) this is (100-20)% of (100-20)% of marked price or m..
So 160=0.8*0.8*m.....0.8m=200....m=250.

So m is 250-100=150 over 100..
As a %, m is 150/100*100=150%

C
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Your explanations are always simple and easy to understand
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A shopkeeper offers two successive discounts of 20% each on a sweater 17 Jun 2019, 14:06
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chetan2u
mangamma
A shopkeeper offers two successive discounts of 20% each on a sweater and still makes a profit of 60%. By what percentage did the shopkeeper mark-up the price of the sweater?

A) 60%

B)100%

C)150%

D)200%

E)250%

Let the cost price be 100.
1) first profit of 60%= 160
2) this is (100-20)% of (100-20)% of marked price or m..
So 160=0.8*0.8*m.....0.8m=200....m=250.

So m is 250-100=150 over 100..
As a %, m is 150/100*100=150%

C
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I did not realize that I had to "work backwards" on this problem.

Thank you for sharing this detailed solution.
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A shopkeeper offers two successive discounts of 20% each on a sweater 17 Jun 2019, 16:02
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Let original value =100
Let % markup =x%
Profit 60% ,so ending value =1.6•100 =160

100—20%disc.—> 80—20%disc.—>64—x%—> 160

Now % Markup= (160-64)/64•100
%Mark up = 96/64•100
%Markup= 150%
Answer C

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A shopkeeper offers two successive discounts of 20% each on a sweater 25 Oct 2025, 19:23
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