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The price of a coat in a certain store

This topic has 2 expert replies and 1 member reply
boomgoesthegmat Senior | Next Rank: 100 Posts Default Avatar
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The price of a coat in a certain store

Post Mon Apr 25, 2016 2:28 pm
The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $150, by what percent is the price to be reduced?

A) 10%
B) 15%
C) 20%
D) 25%
E) 30%

Answer: E

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Post Wed Apr 27, 2016 2:19 pm
150/500 = p/100, where p is the percent we want

100*150 = 500p

10*15 = 5p

30 = p

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Post Mon Apr 25, 2016 8:18 pm
boomgoesthegmat wrote:
The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $150, by what percent is the price to be reduced?

A) 10%
B) 15%
C) 20%
D) 25%
E) 30%

Answer: E
Original price = 500
Discounted price = 350

Percentage discount = 150/500*100 = 30% {discount/original price *100}
Correct Option: E

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Post Mon Apr 25, 2016 4:01 pm
Hi boomgoesthegmat,

This is an example of a straight-forward Percentage Change question, so we'll need to use the Percentage Change Formula:

Percent Change = (new-old)/old = difference/original

We're asked for the percent decrease of a coat that has an original price of $500 and a reduced price of $350.

(350-500)/500 = -150/500 = -3/10 = -30%

So the price of the coat was reduced by 30%

Final Answer: E

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