Percentage problem

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Percentage problem

by GMAT12 » Thu May 14, 2009 9:27 am
A store charges $28 for a certain type of sweater. This price is 40% more than the amount it costs the store to buy one of these sweaters. At end of season sale, store employee can purchase any remaining sweaters at 30% off the store's cost. How much would it cost an employee to purchase a sweater of this type at sell?

A) $8.40
B)$14.00
C)$19.60
D)$20.00
E)$25.20

Is the correct answer B?
Source: — Problem Solving |

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by dmateer25 » Thu May 14, 2009 9:33 am
Let's say the cost for the store is C.

So the stores sells a sweater for 28 and this is 40% more than the amount it costs the store to buy one.


28 = 1.4C
C = 20

So now we know the cost for the store is 20.

The employees will get 30% off of the 20.

30% of 20 is 6. 20-6 = 14

Choose B.

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by GMAT12 » Thu May 14, 2009 9:44 am
Thank you :D