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:

A particular parking garage is increasing its rates by 15 pe [#permalink]
30 Oct 2009, 14:24

2

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

35% (medium)

Question Stats:

57% (02:51) correct
43% (01:55) wrong based on 84 sessions

A particular parking garage is increasing its rates by 15 percent per month. Bob decides to reduce the number of days he uses the garage per month so that the amount he spends at the garage per month remains unchanged. Which of the following is closest to Bob’s percentage reduction in the number of days he uses the garage each month?

Re: A particular parking garage is increasing its rates by 15 pe [#permalink]
11 Oct 2013, 07:07

Can someone help me here? I did it by the following method but the ans is coming out to be wrong

So let the original rate be 100$ and assuming that the no of days for that month is 30, The Per day rate comes out to be \frac{100}{30}=\frac{10}{3}$ Now the rate increases 15 percent per month, so the the next month's rate would be 115$. The per day rate comes out to be \frac{115}{30}$.

So what i did was that let the no of days in the new month that would equate to 100$ be x. The equation comes out to be \frac{115x}{30}=100 x=\frac{3000}{115} days

The percentage change would be [30-(3000/115)]/30\approx{10%} What am i doing wrong?

gmatclubot

Re: A particular parking garage is increasing its rates by 15 pe
[#permalink]
11 Oct 2013, 07:07