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Difficulty:
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Question Stats:
91% (01:14) correct
9%
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wrong
based on 93
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Over a three-week period, the price of an ounce of gold increased by 25% in the first week, decreased by 20% in the following week, and increased by 5% in the third week. If the price of gold was G dollars per ounce at the beginning of the three weeks, what was the price, in terms of G, at the end of the three weeks?
A. 0.95G
B. G
C. 1.05G
D. 1.1G
E. 1.15G
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A. 0.95G
B. G
C. 1.05G
D. 1.1G
E. 1.15G
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paidlukkha
Joined: 11 Nov 2014
Last visit: 21 Apr 2017
Posts: 248
Location: India
Concentration: Finance, International Business
Schools: ISB '18 Great Lakes '18 SPJ PGPM"17 LBS '18 NTU '18 NUS '18
WE:Project Management (Telecommunications)
Schools: ISB '18 Great Lakes '18 SPJ PGPM"17 LBS '18 NTU '18 NUS '18
Posts: 248
G*125/100*80/100*105/100 = 1.05G
C
Sent from my iPad
C
Sent from my iPad
Posts: 35
Initial price =G
By end of first week increased by 25% => Price =1.25G
By end of second week decreadsed by 20% => Price= 1.25*0.8G
By end of third week increased by 5% => Price=1.25*0.8*1.05G
=> Price= 1.05G
By end of first week increased by 25% => Price =1.25G
By end of second week decreadsed by 20% => Price= 1.25*0.8G
By end of third week increased by 5% => Price=1.25*0.8*1.05G
=> Price= 1.05G
Posts: 122
Bunuel
X = G * 5/4 * 8/10 * 105/100 = 105G/100 = 1.05G Answer is C
Bunuel
Check: https://anaprep.com/arithmetic-successi ... e-changes/
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JeffTargetTestPrep
Expert
Target Test Prep Representative
Joined: 04 Mar 2011
Last visit: 05 Jan 2024
Posts: 2,973
Status:Head GMAT Instructor
Affiliations: Target Test Prep
Expert reply
Posts: 2,973
Bunuel
We are given that the price of gold, which was priced at G dollars, increased by 25%, then decreased by 20%, and then increased by 5%. We need to determine the new price, in terms of G, after those changes. To determine the final price, we can create the following expression:
G(1.25)(0.8)(1.05)
Converting the decimals to fractions, we have:
G(5/4)(4/5)(21/20)
G(21/20) = 1.05G
Answer: C
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