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100 points for $49 worth of Veritas practice GMATs FREE VERITAS PRACTICE GMAT EXAMS Earn 10 Points Per Post Earn 10 Points Per Thanks Earn 10 Points Per Upvote ## The price of an item is discounted 10 percent . . . tagged by: M7MBA ##### This topic has 2 expert replies and 1 member reply ## The price of an item is discounted 10 percent . . . The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1? A. 28% B. 40% C. 64.8% D. 70% E. 72% The OA is E. How can I calculate this without knowing the starting price of the item? Experts, may you give me any help? Thanks in advanced. ### GMAT/MBA Expert Legendary Member Joined 14 Jan 2015 Posted: 2667 messages Followed by: 122 members Upvotes: 1153 GMAT Score: 770 Top Reply DavidG@VeritasPrep wrote: M7MBA wrote: The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1? A. 28% B. 40% C. 64.8% D. 70% E. 72% The OA is E. How can I calculate this without knowing the starting price of the item? Experts, may you give me any help? Thanks in advanced. You could pick an easy number to be the starting price: 100 Day 1: discounted 10%. 10% of 100 is 10, so sale price = 100 - 10 = 90 Day 2 discounted 10%. 10% of 90 is 9, so new price . = 90 - 9 = 81. Day 3: discounted 20%. 20% of 81 is 16.20. 81 - 16.20 = 64.80. We're asked what % the price of day 3 (64.80 ) is of the sale price on day 1: (90.) 64.80/90 = 648/900 = 9 *72/9 * 100 = 72. The answer is E. [spoiler] Note that the algebra is virtually identical. Say the starting price is P. Day 1: discounted 10%. Sale Price = .9P Day 2 discounted 10%. New Price . = .9*.9P = .81P Day 3: discounted 20%. New Price = .8 * .81P = .648P Price Day 3/Day 1 = .648P/.9P = .72P _________________ Veritas Prep | GMAT Instructor Veritas Prep Reviews Save$100 off any live Veritas Prep GMAT Course

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M7MBA wrote:
The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1?

A. 28%
B. 40%
C. 64.8%
D. 70%
E. 72%

The OA is E.

How can I calculate this without knowing the starting price of the item? Experts, may you give me any help? Thanks in advanced.
You could pick an easy number to be the starting price: 100
Day 1: discounted 10%. 10% of 100 is 10, so sale price = 100 - 10 = 90
Day 2 discounted 10%. 10% of 90 is 9, so new price . = 90 - 9 = 81.
Day 3: discounted 20%. 20% of 81 is 16.20. 81 - 16.20 = 64.80.

We're asked what % the price of day 3 (64.80 ) is of the sale price on day 1: (90.) 64.80/90 = 648/900 = 9 *72/9 * 100 = 72. The answer is E. [spoiler]

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Save $100 off any live Veritas Prep GMAT Course Enroll in a Veritas Prep GMAT class completely for FREE. Wondering if a GMAT course is right for you? Attend the first class session of an actual GMAT course, either in-person or live online, and see for yourself why so many students choose to work with Veritas Prep. Find a class now! Master | Next Rank: 500 Posts Joined 29 Nov 2017 Posted: 100 messages Upvotes: 14 M7MBA wrote: The price of an item is discounted 10 percent on day 1 of a sale. On day 2, the item is discounted another 10 percent, and on day 3, it is discounted an additional 20 percent. The price of the item on day 3 is what percentage of the sale price on day 1? A. 28% B. 40% C. 64.8% D. 70% E. 72% The OA is E. How can I calculate this without knowing the starting price of the item? Experts, may you give me any help? Thanks in advanced. let us assume sale price on day 1 after 10% discount is 100 then sale price on day 2 would be = 100- 10= 90 (10% of 100 is 10) and the sale price on day3 would be = 90 - 18 = 72 (20% of 90 is 18) hence the sale price of day3 as compared to sale price of day1 is = 72% therefore D is the correct option. • Award-winning private GMAT tutoring Register now and save up to$200

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