Find all School-related info fast with the new School-Specific MBA Forum

It is currently 01 Aug 2014, 20:39

Close

GMAT Club Daily Prep

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.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Increasing the original price of an article by 15% and then

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Manager
Manager
avatar
Joined: 04 Jan 2013
Posts: 82
Followers: 0

Kudos [?]: 4 [0], given: 1

Increasing the original price of an article by 15% and then [#permalink] New post 09 Mar 2013, 20:48
1
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

100% (02:49) correct 0% (00:00) wrong based on 25 sessions
Increasing the original price of an article by 15% and then increasing the new price by 15% again is equivalent to increasing the original price by what %?

A. 34
B. 40
C. 68
D. 88
E. 102

[Reveal] Spoiler:
Hey guys this might be as simple as abc for a math problem to you but not me..anyway this is how i did it after reading a gmat study guide on percents from platinumgmat albeit i dd not pretty well understand it..the two percentages in decimal form,will be as 0.15 each..x(0.15)multiply(0.15) the result is 1.3325x..to one decimal place it is 1.3x..i then found the percentage increase {(end value - start value)/start value)}*100 hence {(1.3225x-x)/x)}*100 =32.25 (to the nearest whole number;32..but among the answer choices there is no 32)how did i get it wrong?please help
Manhattan GMAT Discount CodesKaplan GMAT Prep Discount CodesGMAT Pill GMAT Discount Codes
Moderator
Moderator
User avatar
Joined: 02 Jul 2012
Posts: 1226
Location: India
Concentration: Strategy
GMAT 1: 740 Q49 V42
GPA: 3.8
WE: Engineering (Energy and Utilities)
Followers: 61

Kudos [?]: 639 [0], given: 116

GMAT Tests User Premium Member
Re: increasing the original price of an article by 15% and then [#permalink] New post 09 Mar 2013, 21:24
chiccufrazer1 wrote:
Increasing the original price of an article by 15% and then increasing the new price by 15% again is equivalent to increasing the original price by what %?

A.34 B.40 C.68 D.88 E.102

Hey guys this might be as simple as abc for a math problem to you but not me..anyway this is how i did it after reading a gmat study guide on percents from platinumgmat albeit i dd not pretty well understand it..the two percentages in decimal form,will be as 0.15 each..x(0.15)multiply(0.15) the result is 1.3325x..to one decimal place it is 1.3x..i then found the percentage increase {(end value - start value)/start value)}*100 hence {(1.3225x-x)/x)}*100 =32.25 (to the nearest whole number;32..but among the answer choices there is no 32)how did i get it wrong?please help


To INCREASE a certain number by 15%, you will have to multiply by 1.15
To DECREASE a certain number by 15%, you will have to multiply by 0.85.
To find what 15% of a certain number is, you will have to multiply by 0.15

Lets say the original price of the article is 10$
Multiplying 10 by 1.15 we get 11.5$
Now multiplying 11.5 by 1.15 again we get 13.225 which is the same as increasing 10 by 32%.
So the answer you got is correct.

If the answer choices aren't incorrect, you would be best served to choose the closest possible answer choice i.e. A and move on.
_________________

Did you find this post helpful?... Please let me know through the Kudos button.

Thanks To The Almighty - My GMAT Debrief

GMAT Reading Comprehension: 7 Most Common Passage Types

Expert Post
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 18861
Followers: 3278

Kudos [?]: 22982 [0], given: 2653

Re: Increasing the original price of an article by 15% and then [#permalink] New post 10 Mar 2013, 04:49
Expert's post
chiccufrazer1 wrote:
Increasing the original price of an article by 15% and then increasing the new price by 15% again is equivalent to increasing the original price by what %?

A. 34
B. 40
C. 68
D. 88
E. 102

[Reveal] Spoiler:
Hey guys this might be as simple as abc for a math problem to you but not me..anyway this is how i did it after reading a gmat study guide on percents from platinumgmat albeit i dd not pretty well understand it..the two percentages in decimal form,will be as 0.15 each..x(0.15)multiply(0.15) the result is 1.3325x..to one decimal place it is 1.3x..i then found the percentage increase {(end value - start value)/start value)}*100 hence {(1.3225x-x)/x)}*100 =32.25 (to the nearest whole number;32..but among the answer choices there is no 32)how did i get it wrong?please help


The actual increase would be a little more that 15 + 15 = 30%, only A fits.

Similar questions to practice:
on-the-first-of-the-year-james-invested-x-dollars-at-128825.html
marcus-deposited-8-000-to-open-a-new-savings-account-that-128395.html
10-000-is-deposited-in-a-certain-account-that-pays-r-65464.html
john-deposited-10-000-to-open-a-new-savings-account-that-83953.html
alex-deposited-x-dollars-into-a-new-account-126459.html
a-total-of-60-000-was-invested-for-one-year-part-of-this-126655.html
jolene-entered-an-18-month-investment-contract-that-127308.html

You can find other question here;
PS: search.php?search_id=tag&tag_id=191
DS; search.php?search_id=tag&tag_id=192

Hope it helps.
_________________

NEW TO MATH FORUM? PLEASE READ THIS: ALL YOU NEED FOR QUANT!!!

PLEASE READ AND FOLLOW: 11 Rules for Posting!!!

RESOURCES: [GMAT MATH BOOK]; 1. Triangles; 2. Polygons; 3. Coordinate Geometry; 4. Factorials; 5. Circles; 6. Number Theory; 7. Remainders; 8. Overlapping Sets; 9. PDF of Math Book; 10. Remainders; 11. GMAT Prep Software Analysis NEW!!!; 12. SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) NEW!!!; 12. Tricky questions from previous years. NEW!!!;

COLLECTION OF QUESTIONS:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS ; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
25 extra-hard Quant Tests

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Intern
Intern
avatar
Joined: 14 Jan 2011
Posts: 3
Followers: 0

Kudos [?]: 1 [0], given: 5

Re: Increasing the original price of an article by 15% and then [#permalink] New post 10 Mar 2013, 07:52
chiccufrazer1 wrote:
Increasing the original price of an article by 15% and then increasing the new price by 15% again is equivalent to increasing the original price by what %?

A. 34
B. 40
C. 68
D. 88
E. 102

[Reveal] Spoiler:
Hey guys this might be as simple as abc for a math problem to you but not me..anyway this is how i did it after reading a gmat study guide on percents from platinumgmat albeit i dd not pretty well understand it..the two percentages in decimal form,will be as 0.15 each..x(0.15)multiply(0.15) the result is 1.3325x..to one decimal place it is 1.3x..i then found the percentage increase {(end value - start value)/start value)}*100 hence {(1.3225x-x)/x)}*100 =32.25 (to the nearest whole number;32..but among the answer choices there is no 32)how did i get it wrong?please help



During successive increment or decrements we can apply below mentioned logic. Helps to calculate faster

Let the price of a commodity is increased by a% and then b% then the final increment will be

1 + a/100 + b/100 + ab/10000

Now the same logic can be applied with decrements also with just changing the signs.
Let for example price of commodity is increased by a% and then decreased by b% then the resulting increase/decrease will be

1 + a/100 - b/100 -ab/10000

For the above question the approach will be

1 + 0.15 + 0.15 + 0.0225 = 1.3225 ==> 32.25%
Closest answer is A
Re: Increasing the original price of an article by 15% and then   [#permalink] 10 Mar 2013, 07:52
    Similar topics Author Replies Last post
Similar
Topics:
4 Experts publish their posts in the topic A shopkeeper increases the price of an article by X% chris93 8 28 Oct 2012, 20:45
1 Experts publish their posts in the topic Increasing the original price of an article by 15 percent fiendex 3 05 Feb 2012, 15:25
Experts publish their posts in the topic If the cost price of 20 articles...... pzazz12 3 19 Oct 2010, 04:33
The original price of an article was reduced by 25 percent. IHATEMELGIBSON1 8 29 Mar 2007, 10:18
The original price of an article was reduced by 25 percent. gayathri 10 17 Jan 2005, 09:18
Display posts from previous: Sort by

Increasing the original price of an article by 15% and then

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.