GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 17 Feb 2019, 10:01

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.

Close

Request Expert Reply

Confirm Cancel
Events & Promotions in February
PrevNext
SuMoTuWeThFrSa
272829303112
3456789
10111213141516
17181920212223
242526272812
Open Detailed Calendar
  • Free GMAT Algebra Webinar

     February 17, 2019

     February 17, 2019

     07:00 AM PST

     09:00 AM PST

    Attend this Free Algebra Webinar and learn how to master Inequalities and Absolute Value problems on GMAT.
  • Valentine's day SALE is on! 25% off.

     February 18, 2019

     February 18, 2019

     10:00 PM PST

     11:00 PM PST

    We don’t care what your relationship status this year - we love you just the way you are. AND we want you to crush the GMAT!

Ann can have her bicycle repaired for $50, or she can trade

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

 
Manager
Manager
avatar
Joined: 16 Feb 2012
Posts: 174
Concentration: Finance, Economics
GMAT ToolKit User
Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 05 Jul 2012, 07:04
2
5
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

71% (01:25) correct 29% (01:44) wrong based on 334 sessions

HideShow timer Statistics

Ann can have her bicycle repaired for $50, or she can trade it in, as is, and receive $22 credit toward the purchase of a new bicycle that sells for $107. If Ann trades in her current bicycle, the cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired?

A. 44%
B. 60%
C. 70%
D. 114%
E. 170%

_________________

Kudos if you like the post!

Failing to plan is planning to fail.

Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 52906
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 05 Jul 2012, 07:11
Stiv wrote:
Ann can have her bicycle repaired for $50, or she can trade it in, as is, and receive $22 credit toward the purchase of a new bicycle that sells for $107. If Ann trades in her current bicycle, the cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired?

A. 44%
B. 60%
C. 70%
D. 114%
E. 170%


The cost for repair is $50;
The cost of new bicycle is $107-$22=$85;

So, the cost to Ann of purchasing the new bicycle is \(\frac{85-50}{50}*100=70%\) greater than the cost of having her current bicycle repaired.

Answer: C.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Manager
Manager
avatar
Joined: 19 Mar 2012
Posts: 152
Location: United States
Concentration: Finance, General Management
GMAT 1: 750 Q50 V42
GPA: 3.69
WE: Analyst (Mutual Funds and Brokerage)
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 05 Jul 2012, 07:12
1
Stiv wrote:
Ann can have her bicycle repaired for $50, or she can trade it in, as is, and receive $22 credit toward the purchase of a new bicycle that sells for $107. If Ann trades in her current bicycle, the cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired?

A. 44%
B. 60%
C. 70%
D. 114%
E. 170%


What we want to figure out is:

(New Bike Cost) = (Old Bike Cost) x (1+n) where n is the percentage increase in cost.

So:
New Bike Cost = $107 - $22 = $85
Old Bike Cost = $50

Plugging it in:

85 = 50(1+n)
n = (85/50) -1 = 70%. Answer is C.
e-GMAT Representative
User avatar
D
Joined: 04 Jan 2015
Posts: 2568
Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 28 Apr 2015, 21:47
1
This is an easy question. Yet, as per the stats on this question, 1 out of 3 students who attempted it, got it wrong. :(

This happened probably because the question statement is wordy and seems convoluted. So, even though a student knows the concept of percentages well, he may not be able to frame the required equation.

If you've faced this challenge in this, or any other word problem, then please read on for the approach that you should apply in such questions.


At e-GMAT, we call this approach: 'From Unknown to Known.'

By Unknown, we mean, the piece of information that the question is asking you to find

By Known, we mean, the given pieces of information.

Here's how I would solve this question using our Approach:

Let the cost of purchasing the new bicycle (CPNB) be x% greater than the cost of getting the bicycle repaired (CR).

(Note that x is the unknown here. This is what the question is asking us to find.)

So, we can write: CPNB = (1+\(\frac{x}{100}\))CR . . . (1)

From (1), it's clear that to find the value of x, we need to find the values of CPNB and CR.

CR = $50 (given)

And, CPNB = (selling price of new bicycle) - (credit note) = 107 - 22 = $85

So, from (1) we get:

85 = (1+\(\frac{x}{100}\))50

Upon solving this equation further, we get x = 70%

As you can see, this solution is not too different from the solutions posted above, in terms of the equations formed and the calculations done. The point of difference lies in the order in which I went about forming the equations and doing the calculations. I first wrote an expression for the unknown, and then, thought about finding whatever I needed (CPNB and CR) to get to the value of the unknown.

This approach of going 'From Unknown to Known' gives you a sense of direction in questions where you feel at a loss about what to do with all the data points, or how to even start. This approach acts as a compass that helps you navigate through the maze of given data, one step at a time, and there lies the power of this approach.

Hope this discussion was useful for you! :)

Best Regards

Japinder
_________________








Register for free sessions
Number Properties:- Get 5 free video lessons, 50 practice questions | Algebra:-Get 4 free video lessons, 40 practice questions
Quant Workshop:- Get 100 practice questions | Free Strategy Weession:- Key strategy to score 760

Success Stories
Q38 to Q50 | Q35 to Q50 | More Success Stories

Ace GMAT
Articles and Question to reach Q51 | Question of the week | Tips From V40+ Scoreres | V27 to V42:- GMAT 770 | Guide to Get into ISB-MBA

Must Read Articles
Number Properties – Even Odd | LCM GCD | Statistics-1 | Statistics-2 | Remainders-1 | Remainders-2
Word Problems – Percentage 1 | Percentage 2 | Time and Work 1 | Time and Work 2 | Time, Speed and Distance 1 | Time, Speed and Distance 2
Advanced Topics- Permutation and Combination 1 | Permutation and Combination 2 | Permutation and Combination 3 | Probability
Geometry- Triangles 1 | Triangles 2 | Triangles 3 | Common Mistakes in Geometry
Algebra- Wavy line | Inequalities

Practice Questions
Number Properties 1 | Number Properties 2 | Algebra 1 | Geometry | Prime Numbers | Absolute value equations | Sets



| '4 out of Top 5' Instructors on gmatclub | 70 point improvement guarantee | www.e-gmat.com

Manager
Manager
User avatar
B
Joined: 15 Mar 2015
Posts: 111
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 29 Apr 2015, 09:21
cost of repair = 50.
cost of new bike = 107, 85 after the 22 has been reducted.

85-50=35

35/50=7/10 = 70% = C
_________________

I love being wrong. An incorrect answer offers an extraordinary opportunity to improve.

Manager
Manager
avatar
Joined: 08 Oct 2013
Posts: 50
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 16 May 2015, 22:36
2
Stiv wrote:
Ann can have her bicycle repaired for $50, or she can trade it in, as is, and receive $22 credit toward the purchase of a new bicycle that sells for $107. If Ann trades in her current bicycle, the cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired?

A. 44%
B. 60%
C. 70%
D. 114%
E. 170%


So those who got it wrong, here is the key!! The difference between these 2 statements:

1. x is what percent of y (in this question the answer will be 170%)

2. x is what percent greater than y (in this question answer will be 70%)

So, every word matters. :wall :wall
Intern
Intern
avatar
S
Joined: 12 Nov 2014
Posts: 18
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 25 Jan 2016, 20:49
1
I liked the explanation of AjChakravarthy. I couldn't understand any answers why 70 is answer until I saw down.
Manager
Manager
avatar
G
Joined: 31 Jul 2017
Posts: 138
Location: Tajikistan
Concentration: Finance, Economics
Schools: Booth '21, CBS '21
GMAT 1: 690 Q48 V35
GRE 1: Q164 V162
GPA: 3.85
WE: Accounting (Investment Banking)
Premium Member
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 22 Jun 2018, 00:10
1
Getting a new bicycle by trading her old one would cost Ann 85$(107-22), while repairing her old one would be 50$.
to make percentage problem easier, we will multiple both numbers by 2 (which will not change the ratio between the two numbers). So we get 100 vs 170, which tells us that 70% is the answer (C)
Target Test Prep Representative
User avatar
P
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 4920
Location: United States (CA)
Re: Ann can have her bicycle repaired for $50, or she can trade  [#permalink]

Show Tags

New post 10 Oct 2018, 17:55
Stiv wrote:
Ann can have her bicycle repaired for $50, or she can trade it in, as is, and receive $22 credit toward the purchase of a new bicycle that sells for $107. If Ann trades in her current bicycle, the cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired?

A. 44%
B. 60%
C. 70%
D. 114%
E. 170%


The cost of the new bicycle is 85 dollars after she trades in her current bicycle. So we need to determine 85 is what percent greater than 50:

(85 - 50)/50 * 100 = 35/50 * 100 = 70 percent

Answer: C
_________________

Scott Woodbury-Stewart
Founder and CEO

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

GMAT Club Bot
Re: Ann can have her bicycle repaired for $50, or she can trade   [#permalink] 10 Oct 2018, 17:55
Display posts from previous: Sort by

Ann can have her bicycle repaired for $50, or she can trade

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.