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What is the percentage of price change in a bag of apple

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Intern
Joined: 08 Jan 2012
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What is the percentage of price change in a bag of apple [#permalink]  01 Sep 2012, 05:46
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67% (01:43) correct 33% (01:04) wrong based on 14 sessions
Guys,

I need help in solving below question. I dont have that answer.

There are n Apples in a bag and it cost \$p per bag. What is the percentage change in price per bag if Apples are doubled in a bag and price per bag is increased 10%?

a) 10% decrease
b)10% increase
c)20% increase
d)20% decrease
e) cannot determine

Thanks
Intern
Joined: 28 Aug 2012
Posts: 48
Location: Austria
GMAT 1: 770 Q51 V42
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Re: What is the percentage of price change in a bag of apple [#permalink]  01 Sep 2012, 05:54
vidhya16 wrote:
What is the percentage change in price per bag if Apples are doubled in a bag and price per bag is increased 10%?
Seems to me the percentage change in price per bag is 10% increase, if price per bag is increased 10%.
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Re: What is the percentage of price change in a bag of apple [#permalink]  01 Sep 2012, 06:00
Could someone help in solving the above problem in step by step approach?
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Re: What is the percentage of price change in a bag of apple [#permalink]  01 Sep 2012, 06:36
vidhya16 wrote:
Guys,

I need help in solving below question. I dont have that answer.

There are n Apples in a bag and it cost \$p per bag. What is the percentage change in price per bag if Apples are doubled in a bag and price per bag is increased 10%?

a) 10% decrease
b)10% increase
c)20% increase
d)20% decrease
e) cannot determine

Thanks

Looks like the answer is already given. You need to find the percentage change in the price per bag and the last statement says that if the apples are doubled in a bag the price per bag is increased 10%. So answer is B, 10% increase, the number of apples are irrelevant to the question.

Now if the question asked what is the percentage change the price per apple, then you would have to calculate that out.
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Re: What is the percentage of price change in a bag of apple [#permalink]  01 Sep 2012, 08:25
Thanks.

Now. Lets assume change in price per apple is asked then the equation to solve woould be (2n/1.10p - n/p)/ n/p. Am I right?
Intern
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Re: What is the percentage of price change in a bag of apple [#permalink]  01 Sep 2012, 09:04
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KUDOS
You mixed it up. Apples and price need to be changed.
p=price of bag before inrease
n=number of apples before increase

(1.1p/2n - p/n)/ (p/n) =
(1.1p/2n - 2p/2n) / (p/n) =
(-0.9p/2n) / (p/n) =
(-0.9p/2n) * (n/p) =
-0.9np/2np=-0.9/2=-0.45
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Concentration: Strategy, General Management
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Re: What is the percentage of price change in a bag of apple [#permalink]  02 Sep 2012, 04:53
1
KUDOS
vidhya16 wrote:
Guys,

I need help in solving below question. I dont have that answer.

There are n Apples in a bag and it cost \$p per bag. What is the percentage change in price per bag if Apples are doubled in a bag and price per bag is increased 10%?

a) 10% decrease
b)10% increase
c)20% increase
d)20% decrease
e) cannot determine

Thanks

I think the question is wrongly phrased. From the question clearly %increase in the price of the bag is 10%, irrespective of the number of apples.
I hope this is not the correct intention of this question. If we rephrase the question to consider apple also, the question will be like this-

"There are n Apples in a bag and it cost \$p per apple. What is the percentage change in price per bag if Apples are doubled in a bag and price per apple is increased 10%?

a) 10% decrease
b)10% increase
c)20% increase
d)20% decrease
e) cannot determine"

This such case answer is like this-

Initial cost of a bag = np
Final cost of bag = 2n*1.1*p =2.2 np
So, the percentage increase in the price per bag=(2.2np-np)*100 / np =120 %
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Re: What is the percentage of price change in a bag of apple   [#permalink] 02 Sep 2012, 04:53
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