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.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 350,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

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:

In the first quarter of 2008, Harry's Hardware Store sold 30 [#permalink]
07 Jul 2011, 08:00

4

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

55% (hard)

Question Stats:

65% (03:19) correct
35% (02:21) wrong based on 99 sessions

In the first quarter of 2008, Harry's Hardware Store sold 300 hammers and 12,000 nails. In the second quarter of 2008, the store sold 375 hammers and 18,000 nails. By approximately what percent did the ratio of hammers sold to nails sold decrease from the first quarter to the second quarter.

Re: Percent and Weighted averages [#permalink]
07 Jul 2011, 08:12

1

This post received KUDOS

mustu wrote:

Hello,

A store sold 300 hammers and 12,000 nails on year 0 and 375 hammers and 18,000 nails on year 1. By approximately what percent did the ratio of hammers sold to nails sold decrease?

I have picked up this question from the MGMAT offical guide.

OA = 16.7%

Can someone please explain me the steps to reach the solution. I am lost in the middle ..

Regards Mustu

The old ratio was 1:400 (300:12000) new ratio is 1:480 (375:18000)

Hi Sudhir, Why do u take it as 1-400/480 ?? This is the step that i am not understanding.

Original - change = New

--> We have original as 1/40 and change as 1/48.

So change = Original - New 1/40 - 1/48 right ?

Should we consider original as 100% ( 1 ) and thats the reason?

Regards Mustu

I should have taken 40 and 48 and not 400 and 480. your formula is right , but that will give u only the absolute value of change and % change

for percent change change% = ( original - new)/orginal * 100 =( 1/40 - 1/48)/1/40 * 100 solve this and you will get a negative 16.7 % , which means a decrease of 16.7 %

Re: Percent and Weighted averages [#permalink]
07 Jul 2011, 21:08

6

This post received KUDOS

Expert's post

2

This post was BOOKMARKED

mustu wrote:

Hello,

A store sold 300 hammers and 12,000 nails on year 0 and 375 hammers and 18,000 nails on year 1. By approximately what percent did the ratio of hammers sold to nails sold decrease?

I have picked up this question from the MGMAT offical guide.

OA = 16.7%

Can someone please explain me the steps to reach the solution. I am lost in the middle ..

Regards Mustu

Another approach: The number of hammers increased by 25%. Number of nails increased by 50%. The new ratio is 1.25/1.5 = 5/6 as compared to 1 before. Hence it decreased by 1/6 which is 16.67% _________________

Re: Percent and Weighted averages [#permalink]
08 Jul 2011, 16:51

I made it until .00208/.0025, my answer was .20

The problem said "APPROXIMATELY" so I stopped at .20 (which should have been .208)

I mean, 375/18000 is .00208, but my approximate is .0020 (I stopped bec it said APPROXIMATE)

1-.0020/.0025 is 20%, as compared to the answer, 1-.00208/.0025, which is 16.7%.

16% is a huge diff from 20%. I thought when they used the word "APPROXIMATELY", I could estimate like that. How do I avoid this problem again? How do you know when to estimate like that or not? I guess if they show the answer choices, I'll get it. But I want to be sure.

Re: Percent and Weighted averages [#permalink]
11 Jul 2011, 03:07

1

This post received KUDOS

Expert's post

gablaze23 wrote:

I made it until .00208/.0025, my answer was .20

The problem said "APPROXIMATELY" so I stopped at .20 (which should have been .208)

I mean, 375/18000 is .00208, but my approximate is .0020 (I stopped bec it said APPROXIMATE)

1-.0020/.0025 is 20%, as compared to the answer, 1-.00208/.0025, which is 16.7%.

16% is a huge diff from 20%. I thought when they used the word "APPROXIMATELY", I could estimate like that. How do I avoid this problem again? How do you know when to estimate like that or not? I guess if they show the answer choices, I'll get it. But I want to be sure.

They use the word 'approximate' because 16.67% is an approximation of 1/6. You cannot approximate .00208 to be .0020 since the denominator is .0025 which is quite close to .00208. If you do want to approximate, you can use .0021 instead. Of course, options will help. _________________

Re: Percent and Weighted averages [#permalink]
11 Jul 2011, 03:39

gablaze23 wrote:

I made it until .00208/.0025, my answer was .20

The problem said "APPROXIMATELY" so I stopped at .20 (which should have been .208)

I mean, 375/18000 is .00208, but my approximate is .0020 (I stopped bec it said APPROXIMATE)

1-.0020/.0025 is 20%, as compared to the answer, 1-.00208/.0025, which is 16.7%.

16% is a huge diff from 20%. I thought when they used the word "APPROXIMATELY", I could estimate like that. How do I avoid this problem again? How do you know when to estimate like that or not? I guess if they show the answer choices, I'll get it. But I want to be sure.

Agree. There are no variants in the question. In case if there will be a big gap btw possible answer the one can save some time.

Re: Percent and Weighted averages [#permalink]
04 Jan 2013, 01:49

VeritasPrepKarishma wrote:

mustu wrote:

Hello,

A store sold 300 hammers and 12,000 nails on year 0 and 375 hammers and 18,000 nails on year 1. By approximately what percent did the ratio of hammers sold to nails sold decrease?

I have picked up this question from the MGMAT offical guide.

OA = 16.7%

Can someone please explain me the steps to reach the solution. I am lost in the middle ..

Regards Mustu

Another approach: The number of hammers increased by 25%. Number of nails increased by 50%. The new ratio is 1.25/1.5 = 5/6 as compared to 1 before. Hence it decreased by 1/6 which is 16.67%

Karishma, This is a fantastic approach. Would this work even though hammers are increasing and nails are decreasing in % something like The number of hammers increased by 25%. Number of nails decreased by 50%. The new ratio - 1.25/0.5 ?

Re: Percent and Weighted averages [#permalink]
04 Jan 2013, 02:03

nishtil wrote:

Year 0 --> 300/12000= 1/40 year 1 ---> 375/18000 = 1/48

%change = (1/40 -1/48)/1/40 *100 = 16.6666

Before coming to this post, I was thinking why hasn't anybody solved the problem this way. I solved this way but after looking at other solutions I thought I got answer by fluke

Re: In the first quarter of 2008, Harry's Hardware Store sold 30 [#permalink]
28 Jul 2014, 20:31

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________

Originally posted on MIT Sloan School of Management : We are busy putting the final touches on our application. We plan to have it go live by July 15...