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The marked price of an LCD television is 100% higher than the cost price. If it is sold at a price of $810 after applying two successive discounts of 10% each on the marked price, what is the cost price (in dollars) of LCD television?
- a)450
- b)500
- c)750
- d)900
- e)1000
Correct answer is option 'B'. Can you explain this answer?
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The marked price of an LCD television is 100% higher than the cost pri...
Given information:
- Marked price = 100% higher than the cost price
- Two successive discounts of 10% each applied on the marked price
- Selling price = $810
Calculating the marked price:
Let the cost price be x.
Marked price = Cost price + 100% of cost price = x + x = 2x
Calculating the selling price after two discounts:
First discount: 10% of marked price = 0.1 * 2x = 0.2x
Price after first discount = Marked price - First discount = 2x - 0.2x = 1.8x
Second discount: 10% of price after first discount = 0.1 * 1.8x = 0.18x
Selling price = Price after first discount - Second discount = 1.8x - 0.18x = 1.62x
Given that selling price = $810, we have:
1.62x = 810
x = 810 / 1.62 = 500
Therefore, the cost price of the LCD television is $500 (option b).
- Marked price = 100% higher than the cost price
- Two successive discounts of 10% each applied on the marked price
- Selling price = $810
Calculating the marked price:
Let the cost price be x.
Marked price = Cost price + 100% of cost price = x + x = 2x
Calculating the selling price after two discounts:
First discount: 10% of marked price = 0.1 * 2x = 0.2x
Price after first discount = Marked price - First discount = 2x - 0.2x = 1.8x
Second discount: 10% of price after first discount = 0.1 * 1.8x = 0.18x
Selling price = Price after first discount - Second discount = 1.8x - 0.18x = 1.62x
Given that selling price = $810, we have:
1.62x = 810
x = 810 / 1.62 = 500
Therefore, the cost price of the LCD television is $500 (option b).
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The marked price of an LCD television is 100% higher than the cost price. If it is sold at a price of $810 after applying two successive discounts of 10% each on the marked price, what is the cost price (in dollars) of LCD television?a)450b)500c)750d)900e)1000Correct answer is option 'B'. Can you explain this answer?
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