A merchant reduces the original price of a coat by 20 percent for a spring sale. Finding that the coat did not sell, the merchant reduces the spring price by a further 15 percent at the start of the summer. The coat’s summer price is what percent of its original price?
A. 35%
B. 64%
C. 65%
D. 68%
E. 80%
OA D
Source: Princeton Review
A merchant reduces the original price of a coat by 20 percent for a spring sale. Finding that the coat did not sell, the
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Solution:BTGmoderatorDC wrote: ↑Sat Jul 18, 2020 7:55 pmA merchant reduces the original price of a coat by 20 percent for a spring sale. Finding that the coat did not sell, the merchant reduces the spring price by a further 15 percent at the start of the summer. The coat’s summer price is what percent of its original price?
A. 35%
B. 64%
C. 65%
D. 68%
E. 80%
OA D
We can let the original price of the coat be $100. Therefore, by summer, its price is reduced to:
100 x 0.8 x 0.85 = $68
We see that this is 68% of the original price of $100.
Answer: D
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Let original price be \(100\)BTGmoderatorDC wrote: ↑Sat Jul 18, 2020 7:55 pmA merchant reduces the original price of a coat by 20 percent for a spring sale. Finding that the coat did not sell, the merchant reduces the spring price by a further 15 percent at the start of the summer. The coat’s summer price is what percent of its original price?
A. 35%
B. 64%
C. 65%
D. 68%
E. 80%
OA D
Source: Princeton Review
Reduced price of coat is \(80\)
Final reduced price is \(\dfrac{80\cdot (10015)}{100}=68\)
Thus, the final price of the coat is \(\dfrac{68}{100\cdot 100}=68\%\) of the Original Price.
Therefore, D