
By: JessicaTan (offline) Tuesday, March 12 2013 @ 07:26 AM CDT (Read 1199 times)



JessicaTan 
Please help with working solution
5) Mr Lim had two identical vases for sale at his shop. The price of each vase was $450. He sold one vase at this price and earned 20% of what he paid for it. He sold the other vase at a 5% discount. How much did Mr Lim earn altogether? (Hint : What is the amount Mr Lim paid for each vase?)
Appreciate for your help.

Regular Member
Registered: 10/17/09 Posts: 82





By: achieve_goal (offline) Tuesday, March 12 2013 @ 08:42 AM CDT



achieve_goal 
Hey Jessica,
Solution:
Since Mr Lim earned 20% from the 1st vase,
120% > $450
(Note: Default percentage is always 100%.)
1% > $3.75
Mr Lim sells the second vase at a discount of 5%.
(Each vase is $450 = 120%)
120%5%=115% (discounted price of vase)
115% > $431.25
Total amount earned:
$431.25 + $450 = $881.25
Tell me if the answer is different from yours.

Regular Member
Registered: 09/14/11 Posts: 102





By: achieve_goal (offline) Tuesday, March 12 2013 @ 08:42 AM CDT



achieve_goal 
Hey Jessica,
Solution:
Since Mr Lim earned 20% from the 1st vase,
120% > $450
(Note: Default percentage is always 100%.)
1% > $3.75
Mr Lim sells the second vase at a discount of 5%.
(Each vase is $450 = 120%)
120%5%=115% (discounted price of vase)
115% > $431.25
Total amount earned:
$431.25 + $450 = $881.25
Tell me if the answer is different from yours.

Regular Member
Registered: 09/14/11 Posts: 102





By: echeewh (offline) Tuesday, March 12 2013 @ 04:48 PM CDT



echeewh 
Hey Jessica,
Following is my worked solution:
(vase1)
120% = 450
100% = (450 / 120) × 100 = 375 (CP)
Amt earned (1st vase) = 450  375 = 75
(vase2)
100% = 450
95% = (450 / 100) × 95 = 427.50 (SP of 2nd vase)
Amt earned (2nd Vase) = 427.50  375 = 52.50
Total amt earned = 75 + 52.50 = $127.50
=============
Trust this helps.
Do let me know again if this does not match your Answerkey or if there's further clarification.
Cheers,
Edward
==================
Hey <achieve_goal>,
Following are my comments to your solution:
(i) Cost Price (CP) of vase was not calculated.
(ii) 5% discount of vase2 = (5 / 100) × 450 = 22.50
Hence, Selling price (SP) of vase2 = 450  22.50 = $427.50 {not $431.25}
(iii) Amount earned = Profit.
But what was calculated in your solution was total amount sold.
Trust this clarifies.
Best Regards,
Edward
===============

Active Member
Registered: 04/21/11 Posts: 625





By: JessicaTan (offline) Wednesday, March 13 2013 @ 05:24 AM CDT



JessicaTan 
Appreciate from both of you. Once I have the answer from school teacher I will post it.
Rdgs
Jessica

Regular Member
Registered: 10/17/09 Posts: 82



