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30 Dec 2024, 01:30
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E
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:
67% (01:45) correct
33%
(01:36)
wrong
based on 339
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A candy wholesaler needs to quickly sell some candy bars that are nearing their expiration date, so he reduced the price of the candy bars. By what percent did he reduce the price of the candy bars?
(1) The price of a candy bar was reduced by 36 cents.
(2) If a candy retailer purchases a case of 144 candy bars from the wholesaler, she will save $51.84 as a result of the price reduction.
(1) The price of a candy bar was reduced by 36 cents.
(2) If a candy retailer purchases a case of 144 candy bars from the wholesaler, she will save $51.84 as a result of the price reduction.
30 Dec 2024, 02:31
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Bunuel
Let MP be the markup price and SP be the sales price then percentage reduction in price = \(\frac{(MP - SP)*100}{MP}\)?
Statement 1 - Price was reduced by 36 cents ie. MP - SP = 0.36
We don't know the actual sales price or markup price, so we cannot calculate the percentage reduction.
Like markup price could have been $1, and if 36 cents were reduced then percentage reduction would be 36% but if the markup price would have been $2, and 36 cents were reduced then percentage reduction would be 18%
As we cannot calculate the exact percentage, this statement is insufficient.
Statement 2 - On purchase of 144 candies, amount saved was $51.84
Amount saved on a single candy = 51.84/144 = 0.36 => 36 cents
This just reiterates the information mentioned in the first statement, hence this statement is also insufficient.
Even after combining both these statements, we do not have an exact information on percentage reduction like the sales price or the markup price of the candy but just the exact value reduction. Hence both these statements together are also insufficient.
Answer: E
20 Mar 2025, 10:59
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sorry but if we put together the equation should be 144(x-0.36)= 144x - 51,84
therefore we should be able to know what is the percent change right?
Where is my mistake?
therefore we should be able to know what is the percent change right?
Where is my mistake?
