2005 AMC 8 Problem 2

Attempt Problem 2 of the 2005 AMC 8 below, then check your answer against the professionally curated solution from LIVE by Po-Shen Loh. You can also try the full timed exam, view all 2005 AMC 8 solutions, or check the answer key.

All problems are used with official legal permission of the Mathematical Association of America (MAA).

2.

Karl bought five folders from Pay-A-Lot at a cost of $2.50\$2.50 each. Pay-A-Lot had a 20%20\%-off sale the following day. How much could Karl have saved on the purchase by waiting a day?
$1.00\$ 1.00
$2.00\$ 2.00
$2.50\$ 2.50
$2.75\$ 2.75
$5.00\$ 5.00
Answer: C
Concepts:percentagemoney
Small hint:
Find the total price of the five folders.
Big hint:
The savings would be 20%20\% of that total.
Solution:
Karl paid 5⋅$2.50=$12.505\cdot\$2.50=\$12.50 for the folders.
A 20%20\% discount on $12.50\$12.50 would save 0.20⋅12.50=2.500.20\cdot12.50=2.50 dollars.
Thus, C is the correct answer.
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