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# The price of weed is increased by 7%. By how much percent

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Senior Manager
Joined: 30 Aug 2003
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The price of weed is increased by 7%. By how much percent [#permalink]  10 Jan 2004, 18:04
The price of weed is increased by 7%. By how much percent should a pot smoker reduce his consumption of weed to have no extra expenditure?:shocked

a. 700/107%
b. 107/100%
c. 100/107%
d. 7/107%
e. 70/107%

***Just checking my answer on this one, as there is a conflict with the official answer.
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Pls include reasoning along with all answer posts.
****GMAT Loco****
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Manager
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hi Sunny it should be 700/107 , i got it by using the formula a*b/a+b
Senior Manager
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Thats what the official answer is.
I got (d) by 7/100 + 7
hmmm...
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Pls include reasoning along with all answer posts.
****GMAT Loco****
Este examen me conduce jodiendo loco

Manager
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if u not aware of the formula, then u can try by taking some values but I guess its time-consuming
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Re: WEED Q [#permalink]  14 Jan 2004, 00:50
sunniboy007 wrote:
The price of weed is increased by 7%. By how much percent should a pot smoker reduce his consumption of weed to have no extra expenditure?:shocked

a. 700/107%
b. 107/100%
c. 100/107%
d. 7/107%
e. 70/107%

***Just checking my answer on this one, as there is a conflict with the official answer.

Let X be the price of stuff. The price has just gone up to 107/100*x. In order for the price to be x again, we need to buy 100/107 of it. In terms of percentage change, this is 1-100/107 or 7/107 or 700/107%.

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AkamaiBrah
Former Senior Instructor, Manhattan GMAT and VeritasPrep
Vice President, Midtown NYC Investment Bank, Structured Finance IT
MFE, Haas School of Business, UC Berkeley, Class of 2005
MBA, Anderson School of Management, UCLA, Class of 1993

Re: WEED Q   [#permalink] 14 Jan 2004, 00:50
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