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Financial Maths, STD2 EO-Bank 35

A laptop was on sale with a 30% discount.

As a student, Max received a further 15% off the already discounted price.

What was the overall percentage discount Max received?   (2 marks)

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`text(40.5%)`

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`text{Solution 1 (efficient method)}`

`text(Overall discount)` `= 1-(0.70 xx 0.85)`
  `= 1-0.595`
  `= 0.405`
  `= 40.5text(%)`

 

`text(Solution 2)`

`text(Let the laptop cost) = $100`

`text(Cost after 30% discount) = $70`

`text(Cost after another 15% discount) = 70-(0.15 xx 70) = $59.50`

`:.\ text(Overall discount) = 100-59.50=40.5text(%)`

Financial Maths, STD2 F1 2018 HSC 14 MC (Adapted)

To determine the retail price of an item, a shop owner increases the cost price by 25%. In a sale, the retail price is reduced by 25% to give the sale price.

How does the sale price compare to the cost price?

  1. The sale price is less than the cost price.
  2. The sale price is the same as the cost price.
  3. The sale price is more than the cost price.
  4. It is impossible to compare without knowing the cost price.
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`text(A)`

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`text{Assume the item costs $100:}`

`=>\ \text{Retail price} = 100 × 1.25 = $125`

`=>\ \text{Sale price} = 125 × 0.75 = $93.75`

`:.\ \text{Sale price < Cost price}`

`=>\ \text{A}`