Question: If a jewelry store wants to sell a necklace for $179.95 next week at a 60% off sale, how much is the price of the necklace this week?
A. $71.98
B. $251.93
C. $287.92
D. $399.92
E. $449.88
Approach Solution (1)
The given price is after discount
Cost Price - Discount = Selling Price
Let us assume, Cost Price = C.P. = x
Discount = 0.6x
x - 0.6x = $179.95
0.4x = $179.95
x = $449.88
Correct option: E
Approach Solution (2)
Discount = 60%
Total price next week will be = p * (100 - 60%) with discount
So,
$179.95 = p * (0.4)
p = 449.88
Correct option: E
Approach Solution (3)
Price of necklace = x
Given that there will be 60% off sale next week
So, Discount = 60%
As we know that: C.P. - Discount = S.P.
Therefore,
x - 60% of x = $179.95
x - (60/100) * x = $179.95
(1 - 60/100) * x = $179.95
After calculations, we will get: x = $449.88
Correct option: E
“If a jewelry store wants to sell a necklace for $179.95 next week at a 60% off sale, how much is the price of the necklace this week?”- is a topic of the GMAT Quantitative reasoning section of GMAT. This question has been taken from the book “GMAT Official Guide Quantitative Review”. To solve GMAT Problem Solving questions a student must have knowledge about a good amount of qualitative skills. The GMAT Quant topic in the problem-solving part requires calculative mathematical problems that should be solved with proper mathematical knowledge.
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