Using statement 1, it is easy to see how much the total retail amount should have been. The total retail amount discounted by 25% is the amount that Susan spent. So, we name a variable. Let x be the total retail amount. Then x - .25x = $122. We can rewrite this as x(1-.25) or x(.75)=150 thus, x = 200. So we subtract the known retail prices of the skirt and the purse to get the retail price of the jacket. So 200 - 100 - 40 = $60 is the retail price of the jacket.

Now, we should check statement 2. Using statement 2, we can calculate the savings we had on the jacket. We can first calculate how much we saved on the skirt. So 30% of the $40 retail price is $12. After we find this, we use the information from statement 2 to find the savings we had on the jacket. So $12 + $6 = $18 saved on the jacket. 

Now, we need to figure out how much we spent on the jacket. We do this by taking the total amount we spent and subtracting the discounted price of the purse and the discounted price of the skirt. So, a $100 purse, at 20% off, is $80. We calculated our savings on the skirt earlier, so we know we spent $28 on the skirt. So $150 - $80 - $28 = $42.

Now combining these two pieces of information, we see we spent $42 and saved $18 so 42+18 = $60 retail price for the jacket. 

We can see that either statement alone is sufficient to solve the problem.

In order to calculate the percent discount, both the original price and the sale price must be known. From statement 1, we know the sale price and with the additional information from statement 2, we can calculate the original price and then overall percent discount.

(1) A customer without a reward card pays 1.5 times what a customer with a reward card pays on the same articles.

Let x be the price a customer with a reward card pays, a customer without a reward card pays 1.5x, 1.5x being the original selling price. We can calculate the percentage of discount as:

Statement (1) is sufficient.

(2) A customer with a reward card pays two thirds of any listed price.

Let y be the listed price of a given article. A customer with reward card pays .

The percentage of discount is:

Statement (2) is sufficient.

Each Statement ALONE is sufficient.

(1) Students with a GMAT score above 700 receive a 50% discount on the tuition.

Statement (1) is not sufficient as we do not know how much half of the tuition is.

(2) The average tuition paid by 5 students is $50,000, if only 2 of these students received a 50% discount. Let x be the full amount of tuition for the MBA program.

Statement(2) Alone is sufficient.

Note that the question does not ask for the percentage of discount but the amount of money saved.

(1) The original price of the purse is $400.

Statement (1) alone is not sufficient because it only gives the selling price prior to using the coupon.

(2) When using the coupon, Jane saves 25%.

Statement (2) alone is not sufficient. Even though we know the percentage of discount, we do not have the original price.

However, combining both statements, we get the amount of money saved as:

Jane saved $100 by using the coupon.

Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.

If the initial price is , and the discount is , the final sale price is

If the initial price is P, and it is discounted twice at rates  and , the final price  is

Substituting values this is

or 

The relationship between the list price, , sale price, , and the employee's discount, , is

Inserting values and re-organizing:

If the initial price is , and the discount is , the savings are

The relationship between the list price, , the discount in , the price charged at the register is

.

The factor of  represents the conversion from  to a decimal value.