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A factory produces one type of widget

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A factory produces one type of widget  [#permalink]

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New post 26 Jul 2017, 14:54
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A factory produces one type of widget. This month, the factory raised the price of each widget to X% of the original price. However, the factory only sold Y% as many widgets as last month, and the total revenue from the sale of widgets was equal for last month and this month.

In the table, identify the values of X and Y that are consistent with the information provided. Make only two selections, one in each column.

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Re: A factory produces one type of widget  [#permalink]

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New post 14 Oct 2017, 21:46
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This is pretty simple. Lets say original price is 1 and he sold 1 unit.

Price is raised to x% of original price, new price = x/100
Qty decreased to y%, new quantity = y/100

Also, x > 100 (since price is increased) and y <100 (since qty is decreased)

new price * new qty = old revenue
\(xy/10000 = 1\)
\(xy =10000\)

Try x = 150, you would get y = 66.66
Now try x = 160, you would get y = 62.5
Here is your answer.
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Re: A factory produces one type of widget  [#permalink]

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New post 12 May 2018, 23:53
Abhishiek wrote:
This is pretty simple. Lets say original price is 1 and he sold 1 unit.

Price is raised to x% of original price, new price = x/100
Qty decreased to y%, new quantity = y/100

Also, x > 100 (since price is increased) and y <100 (since qty is decreased)

new price * new qty = old revenue
\(xy/10000 = 1\)
\(xy =10000\)

Try x = 150, you would get y = 66.66
Now try x = 160, you would get y = 62.5
Here is your answer.


Since the price is raised to x%, shouldn't it be 1+(x/100), 1 being the example u quoted.
Re: A factory produces one type of widget &nbs [#permalink] 12 May 2018, 23:53
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