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

It is currently 02 Sep 2015, 05:01
GMAT Club Tests

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

Percent increase

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
avatar
Joined: 24 Feb 2011
Posts: 31
Followers: 0

Kudos [?]: 7 [0], given: 1

Percent increase [#permalink] New post 11 May 2011, 16:01
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

100% (01:35) correct 0% (00:00) wrong based on 3 sessions
HI,
Can someone please explain the following:

If the ratio of the change in the book's price to its new price is 1 : 5
What is the % price increase?

THe answer is given, i just don't understand how to get to it.
THank you.
Director
Director
avatar
Joined: 01 Feb 2011
Posts: 759
Followers: 14

Kudos [?]: 75 [0], given: 42

Re: Percent increase [#permalink] New post 11 May 2011, 16:16
Given
ratio of change in book price/ new price = 1 /5

=>\(( new price - old price)/new price = 1/5\)

=> \(old price/new price = 4/5\) ---- equation 1

% increase is always with respect in the initial or old price.
=> % increase = (( new price - old price)/old price)*100---equation 2

substituting 1 in 2 we have

% increase = \(((new - (4/5)new)/((4/5)new) )* 100\)

= 25%
Intern
Intern
avatar
Joined: 24 Feb 2011
Posts: 31
Followers: 0

Kudos [?]: 7 [0], given: 1

Re: Percent increase [#permalink] New post 11 May 2011, 16:25
Thank you,
i couldn't get to the first equation.
VP
VP
avatar
Status: There is always something new !!
Affiliations: PMI,QAI Global,eXampleCG
Joined: 08 May 2009
Posts: 1356
Followers: 14

Kudos [?]: 178 [0], given: 10

Re: Percent increase [#permalink] New post 11 May 2011, 20:26
change = 1, new price = 5 means old price = 4

change/old price = (1/4)*100 = 25%
_________________

Visit -- http://www.sustainable-sphere.com/
Promote Green Business,Sustainable Living and Green Earth !!

SVP
SVP
avatar
Joined: 16 Nov 2010
Posts: 1676
Location: United States (IN)
Concentration: Strategy, Technology
Followers: 31

Kudos [?]: 374 [0], given: 36

Premium Member Reviews Badge
Re: Percent increase [#permalink] New post 11 May 2011, 20:28
Given x/(x+p) = 1/5 So x/p * 100 = ?

5x = x+p => x/p = 1/4

=> 25%
_________________

Formula of Life -> Achievement/Potential = k * Happiness (where k is a constant)

GMAT Club Premium Membership - big benefits and savings

Re: Percent increase   [#permalink] 11 May 2011, 20:28
    Similar topics Author Replies Last post
Similar
Topics:
2 Experts publish their posts in the topic The price of a radio was increased by 25 percent. Gnpth 1 29 Jun 2014, 21:27
1 Experts publish their posts in the topic The price of sugar is increased by 7%. By how much percent DarkKnight06 3 03 Jul 2013, 21:17
7 Experts publish their posts in the topic The area of a circle is increased by 800%. By what percent gmatquant25 6 27 May 2013, 02:11
10 Experts publish their posts in the topic The value of investment Q increased by q percent from t emmak 5 15 Apr 2013, 02:11
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
Display posts from previous: Sort by

Percent increase

  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®.