GRE GMAT TESTs AND SOLUTIONs

A computer store offers employees a 20% discount off the retail price. If the store purchased a computer from the manufacturer for $1000 dollars and marked up the price 20% to the final retail price, how much would an employee save if he purchased the computer at the employee discount (20% off retail price) as opposed to the final retail price. A) $1,000 B) $960 C) $240 D) $200 E) $150

Peter's bank account has p dollars. John's bank account has 5 times what Peter's bank account has and 1/3 what Fred's bank account has. How much more is in Fred's bank account than is in Peter's bank account, in terms of p? A) 15p B) 14p C) 4p D) (2/3)p E) (1/3)p