A furniture store reduces the retail price of a sofa from $\$800$ to $\$600.$ By what percent is the price of the

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BTGmoderatorLU: Moderator; Posts: 2554; Joined: Sun Oct 15, 2017 1:50 pmFollowed by: 6 members

by BTGmoderatorLU » Sat Feb 10, 2024 7:59 am

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A furniture store reduces the retail price of a sofa from $\$800$ to $\$600.$ By what percent is the price of the sofa reduced?

A. $25\%$
B. $30\%$
C. $35\%$
D. $60\%$
E. $75\%$

The OA is A

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Source: Beat The GMAT — Problem Solving | Sat Feb 10, 2024 7:59 am

mapadvantageprep: Senior | Next Rank: 100 Posts; Posts: 30; Joined: Tue Feb 13, 2024 8:47 am

Re: A furniture store reduces the retail price of a sofa from $\$800$ to $\$600.$ By what percent is the price of th

by mapadvantageprep » Fri Feb 16, 2024 9:15 am

Percent change = $\frac{final-initial}{initial}\cdot100\%$

Percent change = (600 - 800)/800 * 100%
Percent change = -200/800 * 100%
Percent change = -25%
The negative percent change means this is a percent reduction in the price.

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