Problem:
Karl bought five folders from Pay-A-Lot at a cost of each. Pay-A-Lot had a -off sale the following day. How much could Karl have saved on the purchase by waiting a day?
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Answer Choices:
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Solution:
Karl spent on the folders. If he had purchased the folders a day later, he would have saved of this total, or .
Karl could have bought five folders for the price of four in the -off sale, so he could have saved .
Answer: .
The problems on this page are the property of the MAA's American Mathematics Competitions