Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

Re: A dress is marked up 16 2/3% to a final price of $140. What [#permalink]
28 Jun 2013, 08:49

2

This post received KUDOS

Hi Trushit,

If the original price of an item is $100 and you increment it by 20%, the final price is $100 + 20/100 * 100 = 100+20 = 120

If you discount the final price of $ 120 by 20%, we assume it to be $100 but it is not so.

The reason is: $120 - 20/100 * 120 = 120 - 24 = $94

You notice... 20% of 120 is 24 not 20 so you are deducting more than what you actually added hence when you discount by the same value (20%), you wont get the same number.

In question you have posted, the author says - "A dress is marked up by 16 2/3% to make the final price of $ 140"

"marked up" means hiked the price... what you tried to do was "discount" the price by same % on the final price.. which is incorrect.

FDPs: how is 16*(2/3) = 1/6? [#permalink]
21 Jul 2013, 12:55

Hi!

Im doing the FDPs book by MGMAT currenty and right at the end of ch 5, this pops up:

Quote:

Question: "A dress is marked up 16\frac{2}{3}% to a final price of $140. What is the original price of the dress?"

Answer: From the previous page, you know that 16\frac{2}{3}% is equivalent to \frac{1}{6}. Thus, adding \frac{1}{6} of a number to 3 itself is the same thing as multiplying by 1 + \frac{1}{6} = \frac{7}{6}. The original price is $120

On what planet is 16(2/3) = 1/6?? What am I missing. If anything, 16(2/3) = 50/3 = 100/6... Or am I completelty missunderstanding?

Re: FDPs: how is 16*(2/3) = 1/6? [#permalink]
21 Jul 2013, 12:58

Expert's post

aeglorre wrote:

Hi!

Im doing the FDPs book by MGMAT currenty and right at the end of ch 5, this pops up:

Quote:

Question: "A dress is marked up 16\frac{2}{3}% to a final price of $140. What is the original price of the dress?"

Answer: From the previous page, you know that 16\frac{2}{3}% is equivalent to \frac{1}{6}. Thus, adding \frac{1}{6} of a number to 3 itself is the same thing as multiplying by 1 + \frac{1}{6} = \frac{7}{6}. The original price is $120

On what planet is 16(2/3) = 1/6?? What am I missing. If anything, 16(2/3) = 50/3 = 100/6... Or am I completelty missunderstanding?