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Product Y was sold after applying successive discounts of 20% and 30% on the list price (marked price). What is the list price of product Y if it was sold at $112?
- a)180
- b)200
- c)224
- d)250
- e)300
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Product Y was sold after applying successive discounts of 20% and 30% ...
Ok. let say the price without discount is X, and Y is the price with discount.
when the first discount's applied the price will be:
x - (x*20%) ===>> 0.8x
then apply the second discount
0.8x - (0.8x*30%) ===>> 0.56x (0.56 x is price with 20% and 30% discount)
then,
0.56x = y
x = y/0.56
x = 112*100:56
x = 200
when the first discount's applied the price will be:
x - (x*20%) ===>> 0.8x
then apply the second discount
0.8x - (0.8x*30%) ===>> 0.56x (0.56 x is price with 20% and 30% discount)
then,
0.56x = y
x = y/0.56
x = 112*100:56
x = 200
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Community Answer
Product Y was sold after applying successive discounts of 20% and 30% ...
Calculating the List Price of Product Y
To find the list price of Product Y, we need to work backwards from the final selling price of $112 after the discounts have been applied.
Step 1: Applying 30% Discount
When a 30% discount is applied, the customer pays 70% of the original price. Therefore, after the first discount of 30%, the price becomes 70% of the original price.
Step 2: Applying 20% Discount
After the first discount, another 20% discount is applied. This means the customer pays 80% of the price after the first discount. Therefore, after the second discount of 20%, the price becomes 80% of 70% of the original price.
Step 3: Calculating the Final Selling Price
If the final selling price after both discounts is $112, we can set up the equation:
80% of 70% of the original price = $112
Step 4: Solving for the Original Price
Let the original price be x. Then, we have:
0.8 * 0.7 * x = $112
0.56x = $112
x = $112 / 0.56
x = $200
Therefore, the list price of Product Y is $200.
Conclusion
The list price of Product Y, before any discounts, is $200.
To find the list price of Product Y, we need to work backwards from the final selling price of $112 after the discounts have been applied.
Step 1: Applying 30% Discount
When a 30% discount is applied, the customer pays 70% of the original price. Therefore, after the first discount of 30%, the price becomes 70% of the original price.
Step 2: Applying 20% Discount
After the first discount, another 20% discount is applied. This means the customer pays 80% of the price after the first discount. Therefore, after the second discount of 20%, the price becomes 80% of 70% of the original price.
Step 3: Calculating the Final Selling Price
If the final selling price after both discounts is $112, we can set up the equation:
80% of 70% of the original price = $112
Step 4: Solving for the Original Price
Let the original price be x. Then, we have:
0.8 * 0.7 * x = $112
0.56x = $112
x = $112 / 0.56
x = $200
Therefore, the list price of Product Y is $200.
Conclusion
The list price of Product Y, before any discounts, is $200.
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Product Y was sold after applying successive discounts of 20% and 30% on the list price (marked price). What is the list price of product Y if it was sold at $112?a)180b)200c)224d)250e)300Correct answer is option 'B'. Can you explain this answer?
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Product Y was sold after applying successive discounts of 20% and 30% on the list price (marked price). What is the list price of product Y if it was sold at $112?a)180b)200c)224d)250e)300Correct answer is option 'B'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Product Y was sold after applying successive discounts of 20% and 30% on the list price (marked price). What is the list price of product Y if it was sold at $112?a)180b)200c)224d)250e)300Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Product Y was sold after applying successive discounts of 20% and 30% on the list price (marked price). What is the list price of product Y if it was sold at $112?a)180b)200c)224d)250e)300Correct answer is option 'B'. Can you explain this answer?.
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