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A factory produces one type of widget. This month, the factory raised

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sasyaharry
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A factory produces one type of widget. This month, the factory raised [#permalink] New post  Updated on: 29 Sep 2023, 01:44
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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.
X Y
50
62.5
75
150
160
180
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Originally posted by sasyaharry on 26 Jul 2017, 14:54.
Last edited by BottomJee on 29 Sep 2023, 01:44, edited 4 times in total.
Updated - Complete topic (62).
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mbaaspirant80
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  28 Jul 2017, 08:39
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Dear All,
Try this IR question.
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cherryriya
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  02 Aug 2017, 12:49
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The correct answers are:
X = 160
Y = 62.5

If the revenues are equal for 2 months, the equation becomes:
wp = ((x/100) of p) * ((y/100) of w)

Solving the equation , we get xy = 10000. The 2 values which multiply to 10000 are 160 and 62.5.
X is 160 since the price increased, and Y is 62.5 since the number of quantities sold decreased.
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Abhishiek
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] 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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sameerm22
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  26 Sep 2020, 22:13
Correct me if I'm wrong. But if price p increases by x%, then new price is p(1+ (x/100)). So, the new price can not be (x/100)p as explained in some above solutions.
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hellothere88
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  28 Sep 2020, 01:27
Is there any shortcut? Seems we need to try one by one of the answer choices?
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MtFooki
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  29 Sep 2020, 06:03
Say.

x%-percentage raised original price
y%-percentage raised sold
say $1 = widget price, 10 = quantity sold
$1*10=$10 of revenue
so in order for the revenue to be the same
$1(x%)10(y%)=$10
x%*y%=1
62.5*160=1
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dave13
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  21 Oct 2020, 13:00
sameerm22 wrote:
Correct me if I'm wrong. But if price p increases by x%, then new price is p(1+ (x/100)). So, the new price can not be (x/100)p as explained in some above solutions.


sameerm22 yep, you are correct, if it were "increases by x%" then p(1+ (x/100)) but since it is "increases to x%" then x/100 :)
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NandishSS
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Re: A factory produces one type of widget. This month, the factory raised [#permalink] New post  25 Oct 2020, 04:05
dave13 wrote:
sameerm22 wrote:
Correct me if I'm wrong. But if price p increases by x%, then new price is p(1+ (x/100)). So, the new price can not be (x/100)p as explained in some above solutions.


sameerm22 yep, you are correct, if it were "increases by x%" then p(1+ (x/100)) but since it is "increases to x%" then x/100 :)


Wow dave13 You have become an expert now ;)
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Re: A factory produces one type of widget. This month, the factory raised [#permalink]
25 Oct 2020, 04:05
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