GMAT Changed on April 16th - Read about the latest changes here

 It is currently 22 Apr 2018, 12:54

### 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

### Show Tags

06 Jan 2011, 17:44
1
KUDOS
6
This post was
BOOKMARKED
00:00

Difficulty:

15% (low)

Question Stats:

83% (01:11) correct 17% (01:27) wrong based on 266 sessions

### HideShow timer Statistics

Raymond purchased a package of ground beef at a cost of $1.98 per pound. If, for the same amount of money, Raymond could have purchased a piece of steak that weighed 40 percent less than the package of ground beef, what was the cost per pound of the steak? A.$4.95
B. $4.20 C.$3.60
D. $3.30 E.$3.10
[Reveal] Spoiler: OA

_________________

Gmat: everything-you-need-to-prepare-for-the-gmat-revised-77983.html
-------------------------------------------------------------------------------------------------
Ajit

Math Expert
Joined: 02 Sep 2009
Posts: 44599
Re: Raymond purchased a package [#permalink]

### Show Tags

06 Jan 2011, 18:00
2
KUDOS
Expert's post
2
This post was
BOOKMARKED
ajit257 wrote:
Raymond purchased a package of ground beef at a cost of $1.98 per pound. If, for the same amount of money, Raymond could have purchased a piece of steak that weighed 40 percent less than the package of ground beef, what was the cost per pound of the steak? A.$4.95
B. $4.20 C.$3.60
D. $3.30 E.$3.10

I have a doubt the ans.

Forget about the packages. Basically we are told that $1.98 is enough to buy a piece of steak which is 40% less than 1 pound, so$1.98 is enough to buy 0.6 pounds of steak --> 0.6 pound = $1.98 --> 1 pound =$1.98/0.6 = $3.3. Answer: D. _________________ Manager Joined: 03 Nov 2009 Posts: 65 Re: Raymond purchased a package [#permalink] ### Show Tags 07 Jan 2011, 09:50 Always for this kind of a problem(s), the best method is to go by the cross multiplications , If A = B , And C is what ??? A= B , then take C= X, then X = B*C/A SO, 1 Pound of beef =$ 1.98

Then 60% of 1 Pound of Steak (A) = $1.98 (B) Then 100 % of 1 Pound of steak (C) = X So , X =$1.98 *1 Pond of steak / .6Pound of steak

We get $3.30 Ans D. Best Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 8028 Location: Pune, India Re: Raymond purchased a package [#permalink] ### Show Tags 08 Jan 2011, 21:31 1 This post received KUDOS Expert's post ajit257 wrote: Raymond purchased a package of ground beef at a cost of$1.98 per pound. If, for the
same amount of money, Raymond could have purchased a piece of steak that weighed 40
percent less than the package of ground beef, what was the cost per pound of the steak?

A. $4.95 B.$4.20
C. $3.60 D.$3.30
E. $3.10 I have a doubt the ans. Remember, Expense = Price * Quantity If for same Expense, Quantity of Steak is 6/10 of the quantity of ground beef, then price of Steak must be 10/6 of the price of ground beef. (to keep expense same Expense = (10/6)Price * (6/10) Quantity) (10/6)*1.98 = 3.3 _________________ Karishma Veritas Prep | GMAT Instructor My Blog Get started with Veritas Prep GMAT On Demand for$199

Veritas Prep Reviews

Director
Joined: 23 Jan 2013
Posts: 591
Schools: Cambridge'16

### Show Tags

16 May 2016, 23:51
a EP2 question CAT6 lol
_________________

KUDO me plenty

Manager
Joined: 24 Jun 2017
Posts: 122

### Show Tags

19 Dec 2017, 10:05
I think this answer I bad written. It talks about a package of beef not specifing that how many pounds does it weight. Then it says again 40% less than the package, how can we assume that the package weights 1 pound??
SC Moderator
Joined: 22 May 2016
Posts: 1548
Raymond purchased a package of ground beef at a cost of $1.9 [#permalink] ### Show Tags 20 Dec 2017, 11:30 1 This post was BOOKMARKED ajit257 wrote: Raymond purchased a package of ground beef at a cost of$1.98 per pound. If, for the same amount of money, Raymond could have purchased a piece of steak that weighed 40 percent less than the package of ground beef, what was the cost per pound of the steak?

A. $4.95 B.$4.20
C. $3.60 D.$3.30
E. $3.10[/quote Fedemaravilla wrote: I think this answer I bad written. It talks about a package of beef not specifing that how many pounds does it weight. Then it says again 40% less than the package, how can we assume that the package weights 1 pound?? Fedemaravilla , it might seem confusing, but you should not assume the first package weighs one pound. See Bunuel , above You are dealing with a rate ($$\frac{cost}{pound}$$), not a quantity. The prompt gives us "cost per [one] pound" for convenience. But "cost per [one] pound" does not mean there is only one pound. Suppose the first package weighed two pounds. The prompt would have told us it cost$3.96.
The rest of the question would be the same.

What was the cost per pound of the steak?

$$\frac{TotalCost}{NumberOfLbs}$$ = Cost per pound

The number of pounds changed to a fraction of the original number of pounds
40 percent less than 2 pounds = (.60)(2) = 1.2 pounds
The equation for the original rate also must change:
From $$\frac{3.96}{2 lb}$$ to $$\frac{3.96}{1.2lbs} = 3.30$$ per pound for steak

Similarly, here: $$\frac{1.98}{1lb} = 1.98$$ per pound for ground beef.
The number of pounds changed from 1 to 0.6 pounds
That changes the original rate
The equation also must change to $$\frac{1.98}{.60} = 3.30$$ per pound of steak

In short, when you see "cost per pound," you are dealing with a rate, not a quantity.
Focus on the rate, and in this case, how the rate gets changed.

Hope that helps.
_________________

At the still point, there the dance is. -- T.S. Eliot
Formerly genxer123