It is currently 10 Dec 2017, 22:56

### 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

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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# A store currently charges the same price for each towel that

Author Message
TAGS:

### Hide Tags

Senior Manager
Joined: 05 Jan 2006
Posts: 381

Kudos [?]: 94 [2], given: 0

A store currently charges the same price for each towel that [#permalink]

### Show Tags

15 Jun 2006, 17:36
2
KUDOS
5
This post was
BOOKMARKED
00:00

Difficulty:

35% (medium)

Question Stats:

71% (02:02) correct 29% (01:49) wrong based on 391 sessions

### HideShow timer Statistics

A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by $1, 10 fewer of the towels could be bought for$120, excluding sales tax. What is the current price of each towel?

(A) $1 (B)$ 2
(C) $3 (D)$ 4
(E) $12 [Reveal] Spoiler: OA Kudos [?]: 94 [2], given: 0 VP Joined: 02 Jun 2006 Posts: 1257 Kudos [?]: 109 [2], given: 0 ### Show Tags 15 Jun 2006, 17:45 2 This post received KUDOS C) 3 Given pxq =120 .... (a) Also (p+1) x (q-10) = 120 i.e. q = 10(1+p) Replacing q in (a) p^2+p = 12 or (p+4)(p-3) = 0 i.e p=-4 or 3. Kudos [?]: 109 [2], given: 0 Director Joined: 16 Aug 2005 Posts: 937 Kudos [?]: 31 [0], given: 0 Location: France Re: From Old PowerPrep... [#permalink] ### Show Tags 15 Jun 2006, 17:50 1 This post was BOOKMARKED chiragr wrote: A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by$1, 10 fewer of the towels could be bought for $120, excluding sales tax. What is the current price of each towel? A) 1 B) 2 C) 3 D) 4 E) 12 Let current price be x towels that can be bought with$120 = 120/x

If price is x+1, towels bought = 120/(x+1) = (120/x) - 10
Solving for x yields x=3

Hence C
_________________

I believe its yogurt!

Kudos [?]: 31 [0], given: 0

GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5032

Kudos [?]: 456 [0], given: 0

Location: Singapore

### Show Tags

15 Jun 2006, 18:13
1
This post was
BOOKMARKED
Original price = $x # of towels bought with$120 = 120/x

New price = $(x+1) # of towels bought with 120 = 120/(x+1) = 120/x - 10 120/(x+1) = (120 - 10x)/x 120x = 120-10x(x+1) 120x = 120x + 120 - 10x^2 -10x x^2 - x - 12 = 0 (x+4)(x-3) = 0 x = 3 Current price = 3 Kudos [?]: 456 [0], given: 0 SVP Joined: 30 Mar 2006 Posts: 1728 Kudos [?]: 103 [3], given: 0 ### Show Tags 16 Jun 2006, 01:34 3 This post received KUDOS 1 This post was BOOKMARKED What I did was took numbers and started calculating....... Equation can be written but since the numbers were small calculating ws easier. 120/3 = 40 New price = 3 + 1 = 4 Number = 120/4 = 30 30 is ten fewer than 40 hence 3 is the intial price Kudos [?]: 103 [3], given: 0 Manager Joined: 10 May 2006 Posts: 186 Kudos [?]: 5 [0], given: 0 Location: USA ### Show Tags 16 Jun 2006, 07:32 jaynayak wrote: What I did was took numbers and started calculating....... Equation can be written but since the numbers were small calculating ws easier. 120/3 = 40 New price = 3 + 1 = 4 Number = 120/4 = 30 30 is ten fewer than 40 hence 3 is the intial price My thoughts exactly. I calculated the formula: 120/P = 10+ 120/(P+1) then I started pluggin in numbers since it looked much easier to do then to solve this algebraically. Kudos [?]: 5 [0], given: 0 Senior Manager Joined: 05 Jan 2006 Posts: 381 Kudos [?]: 94 [0], given: 0 ### Show Tags 16 Jun 2006, 12:37 "If the current price of each towel were to be increased by$1, 10 fewer of the towels could be bought for $120, excluding sales tax" Doesn't this mean... Original N towel, total price X and price of towel is X/N New N-10 towel, total price 120 and price of towel is X/N+1 How do I conclude that original price X is$120?

If this were to be DS problem I would say that I can not solve this problem with available information.

Any one agrees or I suck in verbal!

Kudos [?]: 94 [0], given: 0

CEO
Joined: 20 Nov 2005
Posts: 2892

Kudos [?]: 337 [0], given: 0

Schools: Completed at SAID BUSINESS SCHOOL, OXFORD - Class of 2008

### Show Tags

16 Jun 2006, 13:21
Current:
Price = p
Can be purchased in $120 = 10 So p*n = 120..........Eq1 After increasing price we have (p+1) (n-10) = 120.........Eq2 Solving Eq1 and Eq2 we get p = 3 _________________ SAID BUSINESS SCHOOL, OXFORD - MBA CLASS OF 2008 Kudos [?]: 337 [0], given: 0 Manager Joined: 09 Aug 2005 Posts: 72 Kudos [?]: 2 [0], given: 0 Total price [#permalink] ### Show Tags 26 Aug 2006, 21:32 Chiragr, 120 is not the total price X, it is the amount with which someone can buy n number of towels. I thought the problem clearly states that... its not to look at the problem so literally I guess MG Kudos [?]: 2 [0], given: 0 Intern Joined: 22 Mar 2007 Posts: 46 Kudos [?]: [0], given: 0 Try this link.. [#permalink] ### Show Tags 06 Jun 2007, 20:24 http://www.gmatclub.com/phpbb/viewtopic ... ght=towels I just did a search for towel because I remember seeing this problem before. For a problem like this you could always start with the answer choices and work backwards if the formula just isn't coming to you. Kudos [?]: [0], given: 0 Director Joined: 12 Jun 2006 Posts: 529 Kudos [?]: 170 [0], given: 1 ### Show Tags 06 Jun 2007, 23:51 C Let P = price per towel You can figure that 120/P = the quantity of towels sold. add 1 to P (price) and you have P+1, which equals the new price per towel. The new price per towel, P+1, results in 10 fewer towels being purchased for$120. The equation below reflects this:

120/P+1 = 120/P - 10

Now, solve for P.

Kudos [?]: 170 [0], given: 1

Director
Joined: 03 Sep 2006
Posts: 862

Kudos [?]: 1125 [1], given: 33

Re: Number Properties Question 2 [#permalink]

### Show Tags

07 Jun 2007, 00:12
1
KUDOS
1
This post was
BOOKMARKED
700dreamer wrote:
A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by $1, 10 fewer of the towels could be bought for$120, excluding tax. What is the current price of each towel?

A) $1 B)$2
C) $3 D)$4
E) $12 Current price of each towel =$x

Number of current towels which can be bought for $120 is equal to (120/x) Increased current price =$x + $1 [(120/x)-(10)]*(x+1) = 120 becomes a quadratic equation : x^2 + x-12 = 0 (x+4)(x-3) = 0 thus x=3 C is the answer. Kudos [?]: 1125 [1], given: 33 SVP Joined: 28 Dec 2005 Posts: 1543 Kudos [?]: 188 [0], given: 2 Re: 200. current price [#permalink] ### Show Tags 23 Feb 2008, 20:37 i get C, 3 dollars. let old price = x, therefore new price is x+1 amount of towels you could buy with old price is 120/x, and amount with new price is (120/x+1)-10 set these equations equal to each other, and solve for x. youll end up with a quadratic with roots -4 and 3. -4 is inadmissable, so 3 is your answer. try it out: for 120 dollars, you can get 40 towels at 3 bucks a pop. Now, for a dollar increase, i.e. 4 dollars, you can get only 30 towels. Thats a difference of 10 towels due to a$1 increase in price.

Kudos [?]: 188 [0], given: 2

Senior Manager
Joined: 15 Aug 2007
Posts: 252

Kudos [?]: 73 [0], given: 0

Schools: Chicago Booth
Re: OG - PS 200 [#permalink]

### Show Tags

02 Mar 2008, 09:37
C

Here is what I have done...

Assuming n-no of towels, x-unit price of towel before increase:

n*x=120
(n-10)*(x+1)=120

You could solve the equations, but I tried different values of n ending with 0 from 120's prime factors - 5*3*2*2*2
so n could be 20, 30, 40 and corresponding x values are 6,4 and 3. And 40 and 3 satyisfy the second condition, so 3 is the answer.

Kudos [?]: 73 [0], given: 0

Current Student
Joined: 28 Dec 2004
Posts: 3345

Kudos [?]: 324 [2], given: 2

Location: New York City
Schools: Wharton'11 HBS'12
Re: What is the most efficient way to solve this problem- Ideas? [#permalink]

### Show Tags

22 Jun 2008, 08:58
2
KUDOS
this question is actually very simple and can be best approached by trying numbers..

so suppose orig.price=3..then 120/3=40 towels
increase it by 1=new price=4 120/4=30 towels..

another hint that you want to look for is that 120..what ever numbers you look for must be factors of 120..

in our case that doesnt help since all of them are factors of 120.

Kudos [?]: 324 [2], given: 2

Math Expert
Joined: 02 Sep 2009
Posts: 42529

Kudos [?]: 135178 [0], given: 12671

### Show Tags

16 Sep 2010, 07:35
Expert's post
5
This post was
BOOKMARKED
Baten80 wrote:
OG 195. A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by $1, 10 fewer of the towels could be bought for$120, excluding sales tax. What is the current price of each towel?
(A) $1 (B)$ 2
(C) $3 (D)$ 4
(E) $12 Suggest shortest way to solve the problem. Let the current price be $$p$$ and the # of towels sold at this price be $$n$$. Then we would have two equations: $$pn=120$$ amd $$(p+1)(n-10)=120$$ at this point you can solve the system of equations for $$p$$ (you'll get quadratic equation to solve) or try to substitute answer choices. When substituting answer choices it's good to start with the middle value, so in our case C -$3 --> so if $$p=3$$ then $$3n=120$$ --> $$n=40$$ --> $$(3+1)(40-10)=4*30=120$$, so this answer works.

Hope it helps.
_________________

Kudos [?]: 135178 [0], given: 12671

Senior Manager
Joined: 20 Jul 2010
Posts: 253

Kudos [?]: 103 [1], given: 9

### Show Tags

17 Sep 2010, 19:19
1
KUDOS
1
This post was
BOOKMARKED
I felt using answer choices was fast....surely less than minute.

A. With \$1, 120 towels, after price increase 60 towels....
B 60 towels and then 30
C. 40 and then 30 towels....-> answer
_________________

If you like my post, consider giving me some KUDOS !!!!! Like you I need them

Kudos [?]: 103 [1], given: 9

Manager
Joined: 14 Feb 2011
Posts: 183

Kudos [?]: 157 [0], given: 3

### Show Tags

08 May 2011, 10:55
carollu wrote:
A store currently charges the smae price for each towel that it sells. if the current price of each towel were to be increased by 1.10 fewer of the towels could be bought for 120, excluding sales tax. what is the current price of each towel?

a)1 b)2 c)3 d)4 e)12

I think there ought to be a comma between 1 and 10 here. If that were the case, we know that increasing price by 1 reduces volume by 10 for a fixed budget of 120. If initial price is x and volume y then we have

xy = 120

(x+1)*(y-10)=120

120 is 3*4*10

So, we can deduce that if x is 3 then y is 40 and when x+1 becomes 4, y-10 becomes 30 and hence x is 3 - Answer C

Kudos [?]: 157 [0], given: 3

Intern
Joined: 29 Mar 2011
Posts: 19

Kudos [?]: 4 [0], given: 0

### Show Tags

08 May 2011, 12:52
Assuming n towels are bought and price of each towel is x.
n.x=120
price increase x+1
total towels that can be bought = n-10
now (n-10)(x+1)=120

Solving 2 equations --> x=(n-10)/10
Substituting answers, only x=3 solves the problem

Kudos [?]: 4 [0], given: 0

Director
Joined: 01 Feb 2011
Posts: 709

Kudos [?]: 148 [0], given: 42

### Show Tags

08 May 2011, 14:21
i agree with @beyongmat.. about the typo in question. there has to be a comma after 1.

=> $$120 = ((120/x)-10)(x+1)$$

=> x =3

Kudos [?]: 148 [0], given: 42

Re: PS numbers   [#permalink] 08 May 2011, 14:21

Go to page    1   2    Next  [ 31 posts ]

Display posts from previous: Sort by