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Increasing the original price of an article by 15 percent

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Manager
Joined: 01 Dec 2011
Posts: 64
Increasing the original price of an article by 15 percent [#permalink]

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05 Feb 2012, 16:25
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81% (00:59) correct 19% (00:49) wrong based on 283 sessions

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Increasing the original price of an article by 15 percent and then increasing the new price by 15 percent is equivalent to increasing the original price by

A) 32.25%
B) 31.00%
C) 30.25%
D) 30.00%
E) 22.50%

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Joined: 02 Sep 2009
Posts: 47064
Re: Increasing the original price of an article by 15 percent [#permalink]

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05 Feb 2012, 16:41
3
fiendex wrote:
Increasing the original price of an article by 15 percent and then increasing the new price by 15 percent is equivalent to increasing the original price by

A) 32.25%
B) 31.00%
C) 30.25%
D) 30.00%
E) 22.50%

You can do this by approximation, or with straight math by calculating 100*1.15^2.

Or step by step: if you increase 100 by 15% you'll get 115, then if you increase 115=100+15 by 15% again, 100 will gain 15 again and 15 will gain its 15% which is 2.25, so total gain is 15+2.25=17.25 --> 115+17.25=132.25.

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Joined: 27 Dec 2012
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Re: Increasing the original price of an article by 15 percent [#permalink]

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11 Jul 2014, 01:10
1
Initial Price = 100

15% increase = 115

Again 15% increase on new price $$= 115 + 115 * \frac{15}{100}$$

= 115 + 117.25

= 132.25

Percentage Increase = 132.25 - 100 = 32.25%
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Intern
Joined: 10 Jul 2014
Posts: 2
Re: Increasing the original price of an article by 15 percent [#permalink]

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11 Jul 2014, 05:50
Original Price be P

Increasing by 15% => New price = 1.15 P
Again Increasing it by 15 % => Final Price = 1.15*1.15 P = 1.3225 { 115^2 = 11*12 25 = 13225}

Hence increase is (1.3225 - 1)*100% = 32.25%
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Joined: 24 Nov 2015
Posts: 556
Location: United States (LA)
Re: Increasing the original price of an article by 15 percent [#permalink]

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30 Mar 2016, 14:32
consider base price as $100 15% increase = 1.15*100 = 115 Another 15% increase on new price = 1.15 * 115 = 132.25 therefore a 32.25% increase Correct ans - A Intern Joined: 27 Oct 2016 Posts: 3 Location: Argentina Concentration: General Management, Operations WE: Engineering (Energy and Utilities) Re: Increasing the original price of an article by 15 percent [#permalink] Show Tags 11 Feb 2017, 17:06 Lets say P=100$ --> 100*15%=115\$ = P1

115+15%*(115)= P2

You can think 115 as 100 + 10 + 5 and take 15% of each one:
15%* 100 = 15
15%*10= 1,5
15%*(2*5)=1,5-->15%*5=0,75

The answer is 115+15+1,5+0,75= 132,25 --> Answer A
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Re: Increasing the original price of an article by 15 percent [#permalink]

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12 Feb 2017, 02:32
1
fiendex wrote:
Increasing the original price of an article by 15 percent and then increasing the new price by 15 percent is equivalent to increasing the original price by

A) 32.25%
B) 31.00%
C) 30.25%
D) 30.00%
E) 22.50%

Shortest method will be -

$$15 + 15 + \frac{(15*15)}{100}$$

= 30 + 2.25

= 32.25%

Hence, correct answer will be (A) 32.25%
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Re: Increasing the original price of an article by 15 percent [#permalink]

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20 Mar 2018, 23:26
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: Increasing the original price of an article by 15 percent   [#permalink] 20 Mar 2018, 23:26
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