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

It is currently 29 Aug 2014, 00:07

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

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

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
avatar
Joined: 08 Jan 2012
Posts: 10
Followers: 0

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

What is the percentage of price change in a bag of apple [#permalink] New post 01 Sep 2012, 05:46
1
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

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
Intern
avatar
Joined: 28 Aug 2012
Posts: 48
Location: Austria
GMAT 1: 770 Q51 V42
Followers: 3

Kudos [?]: 29 [0], given: 3

Re: What is the percentage of price change in a bag of apple [#permalink] New post 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%. :)
Intern
Intern
avatar
Joined: 08 Jan 2012
Posts: 10
Followers: 0

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

Re: What is the percentage of price change in a bag of apple [#permalink] New post 01 Sep 2012, 06:00
Could someone help in solving the above problem in step by step approach?
Intern
Intern
User avatar
Joined: 05 May 2011
Posts: 38
Followers: 0

Kudos [?]: 8 [0], given: 6

GMAT ToolKit User CAT Tests
Re: What is the percentage of price change in a bag of apple [#permalink] New post 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.
Intern
Intern
avatar
Joined: 08 Jan 2012
Posts: 10
Followers: 0

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

Re: What is the percentage of price change in a bag of apple [#permalink] New post 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?
1 KUDOS received
Intern
Intern
avatar
Joined: 28 Aug 2012
Posts: 48
Location: Austria
GMAT 1: 770 Q51 V42
Followers: 3

Kudos [?]: 29 [1] , given: 3

Re: What is the percentage of price change in a bag of apple [#permalink] New post 01 Sep 2012, 09:04
1
This post received
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
1 KUDOS received
Manager
Manager
avatar
Joined: 24 Jul 2011
Posts: 77
Location: India
Concentration: Strategy, General Management
GMAT 1: 670 Q49 V33
WE: Asset Management (Manufacturing)
Followers: 2

Kudos [?]: 59 [1] , given: 5

Re: What is the percentage of price change in a bag of apple [#permalink] New post 02 Sep 2012, 04:53
1
This post received
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 %
_________________

My mantra for cracking GMAT:
Everyone has inborn talent, however those who complement it with hard work we call them 'talented'.


+1 Kudos = Thank You Dear :)
Are you saying thank you?

Re: What is the percentage of price change in a bag of apple   [#permalink] 02 Sep 2012, 04:53
    Similar topics Author Replies Last post
Similar
Topics:
Experts publish their posts in the topic What is the difference between percentage change, and... theknighht 2 27 Feb 2012, 22:02
Percentage Change in Mean enigma123 3 22 Nov 2011, 15:36
Price of microchip - percentage coelholds 3 28 Jul 2009, 13:16
At a fruit stand yesterday, the price of each apple was TOUGH GUY 1 31 Jan 2007, 05:15
The price of apples is $.2 per lbs, what is the maximum joemama142000 5 22 Apr 2006, 02:37
Display posts from previous: Sort by

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

  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®.