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A discount of 5 percent on the listed price of an article was offered,
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05 Jan 2024, 00:32
05 Jan 2024, 00:32
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Question Stats:
80% (01:49) correct
20% (01:10) wrong based on 10 sessions
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A discount of 5 percent on the listed price of an article was offered, reducing the profit by $120 that could have been earned if it were sold at the listed price.
A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given.
Quantity A |
Quantity B |
The actual price at which the article was sold |
$2,000 |
A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given.
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Free Materials for the GRE General Exam - Where to get it!!
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Joined: 11 Nov 2023
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WE:Business Development (Advertising and PR)
Re: A discount of 5 percent on the listed price of an article was offered,
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19 Jan 2024, 15:55
19 Jan 2024, 15:55
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Let L = the listed price of the article, c = cost of the article, and p = profit made selling the article at the listed price.
L - c = p
0.95L - c = p - 120
0.05L = 120
L = 2400
With the 5 percent discount, the actual price at which the article was sold is 0.95 * L = 2280.
Since 2280 > 2000, Quantity A is greater.
L - c = p
0.95L - c = p - 120
0.05L = 120
L = 2400
With the 5 percent discount, the actual price at which the article was sold is 0.95 * L = 2280.
Since 2280 > 2000, Quantity A is greater.
gmatclubot
Re: A discount of 5 percent on the listed price of an article was offered, [#permalink]
19 Jan 2024, 15:55
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