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

It is currently 18 Jul 2018, 02:06

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

Increasing the original price of an article by 15 percent

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

Hide Tags

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

Show Tags

New post 05 Feb 2012, 16:25
1
2
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

81% (00:59) correct 19% (00:49) wrong based on 283 sessions

HideShow timer Statistics

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%

_________________

http://en.wikipedia.org/wiki/Kudos

Expert Post
3 KUDOS received
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 47064
Re: Increasing the original price of an article by 15 percent [#permalink]

Show Tags

New post 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.

Answer: A.
_________________

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

1 KUDOS received
SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1837
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Re: Increasing the original price of an article by 15 percent [#permalink]

Show Tags

New post 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%
_________________

Kindly press "+1 Kudos" to appreciate :)

Intern
Intern
avatar
Joined: 10 Jul 2014
Posts: 2
Re: Increasing the original price of an article by 15 percent [#permalink]

Show Tags

New post 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%
Director
Director
User avatar
G
Joined: 24 Nov 2015
Posts: 556
Location: United States (LA)
Reviews Badge
Re: Increasing the original price of an article by 15 percent [#permalink]

Show Tags

New post 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
Intern
avatar
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

New post 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
Board of Directors
User avatar
G
Status: QA & VA Forum Moderator
Joined: 11 Jun 2011
Posts: 3638
Location: India
GPA: 3.5
WE: Business Development (Commercial Banking)
GMAT ToolKit User Premium Member
Re: Increasing the original price of an article by 15 percent [#permalink]

Show Tags

New post 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%
_________________

Thanks and Regards

Abhishek....

PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS

How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only )

Non-Human User
User avatar
Joined: 09 Sep 2013
Posts: 7281
Premium Member
Re: Increasing the original price of an article by 15 percent [#permalink]

Show Tags

New post 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).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

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

Increasing the original price of an article by 15 percent

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

Events & Promotions

PREV
NEXT


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®.