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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:
15%
(low)
Question Stats:
76% (01:11) correct
24%
(00:58)
wrong
based on 298
sessions
History
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Time
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What was the percentage discount given on the marked price of an item?
(1) The marked price of the item is 20 percent more than the cost price.
(2) The selling price of the item after the discount is equal to $2,000.
(1) The marked price of the item is 20 percent more than the cost price.
(2) The selling price of the item after the discount is equal to $2,000.
01 Jan 2022, 09:42
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What was the percentage discount given on the marked price of an item?
(1) The marked price of the item is 20 percent more than the cost price. Price=1.2*Cost Insufficient
(2) The selling price of the item after the discount is equal to $2,000.(1-d)*Price=2000 Insufficient
(1)+(2) We still don't have enough information to get d. Insufficient.
Answer is E
(1) The marked price of the item is 20 percent more than the cost price. Price=1.2*Cost Insufficient
(2) The selling price of the item after the discount is equal to $2,000.(1-d)*Price=2000 Insufficient
(1)+(2) We still don't have enough information to get d. Insufficient.
Answer is E
03 Jan 2022, 12:32
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Here is the OE
Solution:
Step 1: Analyse Question Stem
We need to find the percentage discount offered to her.
To find that, we would need the marked price and selling price of the item.
Step 2: Analyse Statements Independently (And eliminate options) – AD/BCE
Statement 1: The marked price of an item is 20 percent more than the C.P.
• \(MP = CP * ( 1 + \frac{20}{100} )\) ⟹ \(MP = 1.2 CP\)
• However, we don’t know the exact value of CP or MP. Hence, we won’t be able to find the percentage discount.
Hence, statement 1 is not sufficient and we can eliminate answer options A and D.
Statement 2: The selling price of the item after the discount is equal to $2,000
• \(SP = $2,000\)
However, we don’t know the value of the marked price. Hence, statement 2 is also not sufficient and we can eliminate answer B.
Step 3: Analyse Statements by Combining
From statement 1: MP = 1.2CP
From statement 2: SP = $2,000
We don’t know the value of CP, hence there is no way, in which we can find the value of MP.
Thus, the correct answer is Option E.
Solution:
Step 1: Analyse Question Stem
We need to find the percentage discount offered to her.
To find that, we would need the marked price and selling price of the item.
Step 2: Analyse Statements Independently (And eliminate options) – AD/BCE
Statement 1: The marked price of an item is 20 percent more than the C.P.
• \(MP = CP * ( 1 + \frac{20}{100} )\) ⟹ \(MP = 1.2 CP\)
• However, we don’t know the exact value of CP or MP. Hence, we won’t be able to find the percentage discount.
Hence, statement 1 is not sufficient and we can eliminate answer options A and D.
Statement 2: The selling price of the item after the discount is equal to $2,000
• \(SP = $2,000\)
However, we don’t know the value of the marked price. Hence, statement 2 is also not sufficient and we can eliminate answer B.
Step 3: Analyse Statements by Combining
From statement 1: MP = 1.2CP
From statement 2: SP = $2,000
We don’t know the value of CP, hence there is no way, in which we can find the value of MP.
Thus, the correct answer is Option E.
