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The price of an item after five consecutive 10% discounts ar

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GMAT Club Legend
GMAT Club Legend
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Joined: 07 Jun 2014
Posts: 4710
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 91

Kudos [?]: 1612 [0], given: 375

CAT Tests
The price of an item after five consecutive 10% discounts ar [#permalink] New post 10 Jun 2018, 04:01
Expert's post
00:00

Question Stats:

66% (00:18) correct 33% (00:00) wrong based on 9 sessions
Quantity A
Quantity B
The price of an item after five consecutive 10% discounts are applied
50% of the price of the item


A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
[Reveal] Spoiler: OA

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Sandy
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GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4710
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 91

Kudos [?]: 1612 [0], given: 375

CAT Tests
Re: The price of an item after five consecutive 10% discounts ar [#permalink] New post 01 Jul 2018, 14:05
Expert's post
Explanation

Say the item costs $100. After the first 10% discount, the item costs $90. After the second, the item costs $81 (the new discount is only $9, or 10% of 90). After the third discount, the item costs $81 – $8.10 = $72.90.

What is the trend here? The cost goes down with each discount, yes, but the discount itself also gets smaller each time; it is only a $10 discount the very first time. The total of the five discounts, then, will be less than $50.

If the item costs $100 to start, then the value for Quantity B will be $50, or a total discount of $50. This is greater than the total discount described for Quantity A.

Finally, make sure to answer (A) for the higher price—don’t accidentally pick (B) for the “better deal”!
_________________

Sandy
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Re: The price of an item after five consecutive 10% discounts ar   [#permalink] 01 Jul 2018, 14:05
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