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06 Jan 2011, 17:44
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82% (02:21) correct 18% (01:30) wrong based on 121 sessions

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Raymond purchased a package of ground beef at a cost of $1.98 per pound. If, for the same amount of money, Raymond could have purchased a piece of steak that weighed 40 percent less than the package of ground beef, what was the cost per pound of the steak? A.$4.95
B. $4.20 C.$3.60
D. $3.30 E.$3.10
[Reveal] Spoiler: OA

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Ajit

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Re: Raymond purchased a package [#permalink]

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06 Jan 2011, 18:00
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ajit257 wrote:
Raymond purchased a package of ground beef at a cost of $1.98 per pound. If, for the same amount of money, Raymond could have purchased a piece of steak that weighed 40 percent less than the package of ground beef, what was the cost per pound of the steak? A.$4.95
B. $4.20 C.$3.60
D. $3.30 E.$3.10

I have a doubt the ans.

Forget about the packages. Basically we are told that $1.98 is enough to buy a piece of steak which is 40% less than 1 pound, so$1.98 is enough to buy 0.6 pounds of steak --> 0.6 pound = $1.98 --> 1 pound =$1.98/0.6 = $3.3. Answer: D. _________________ Manager Joined: 03 Nov 2009 Posts: 65 Followers: 1 Kudos [?]: 11 [0], given: 17 Re: Raymond purchased a package [#permalink] ### Show Tags 07 Jan 2011, 09:50 Always for this kind of a problem(s), the best method is to go by the cross multiplications , If A = B , And C is what ??? A= B , then take C= X, then X = B*C/A SO, 1 Pound of beef =$ 1.98

Then 60% of 1 Pound of Steak (A) = $1.98 (B) Then 100 % of 1 Pound of steak (C) = X So , X =$1.98 *1 Pond of steak / .6Pound of steak

We get $3.30 Ans D. Best Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 6473 Location: Pune, India Followers: 1750 Kudos [?]: 10449 [1] , given: 205 Re: Raymond purchased a package [#permalink] ### Show Tags 08 Jan 2011, 21:31 1 This post received KUDOS Expert's post ajit257 wrote: Raymond purchased a package of ground beef at a cost of$1.98 per pound. If, for the
same amount of money, Raymond could have purchased a piece of steak that weighed 40
percent less than the package of ground beef, what was the cost per pound of the steak?

A. $4.95 B.$4.20
C. $3.60 D.$3.30
E. $3.10 I have a doubt the ans. Remember, Expense = Price * Quantity If for same Expense, Quantity of Steak is 6/10 of the quantity of ground beef, then price of Steak must be 10/6 of the price of ground beef. (to keep expense same Expense = (10/6)Price * (6/10) Quantity) (10/6)*1.98 = 3.3 _________________ Karishma Veritas Prep | GMAT Instructor My Blog Get started with Veritas Prep GMAT On Demand for$199

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13 May 2015, 19:13
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Re: Raymond purchased a package of ground beef at a cost of $1.9 [#permalink] ### Show Tags 24 May 2015, 04:22 1 This post received KUDOS 1.98x=0.6xy y=1.98x/0.6x=3.3 D Re: Raymond purchased a package of ground beef at a cost of$1.9   [#permalink] 24 May 2015, 04:22
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