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Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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07 Jul 2017, 01:06
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65% (hard)
Question Stats:
63% (02:09) correct 37% (02:09) wrong based on 527 sessions
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Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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Updated on: 07 Jul 2017, 19:51
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Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Answer: B Lets say Price and Mileage before hike are P1 and M1 respectively. After Hike, they are P2 and M2 respectively.
If price per mile is to stay the same, we need to have this equation.
\(P1 / M1 = P2 / M2\)
\(M2 = P2 * M1/P1\)
but P2 is 1.2 times P1.
\(P1 / M1 = 1.2P1 / M2 * P1\)
\(M2 = 1.2M1\)
Difference is 1.2 or 20%.
Edit: Editing after mistake was pointed out by chetan2u _________________
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Originally posted by jedit on 07 Jul 2017, 02:18.
Last edited by jedit on 07 Jul 2017, 19:51, edited 2 times in total.
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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07 Jul 2017, 02:42
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jedit wrote:
Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Answer: B Lets say Price and Mileage before hike are P1 and M1 respectively. After Hike, they are P2 and M2 respectively.
We need them to be Equal.
\(P1 * M1 = P2 * M2\)
Hi.. We have to be very careful while making the equation Even the Q tells you that the new mileage INCREASE, so the increase cannot be together both in P and M as the equation taken by you..
What is mileage? D/L... D is same ..
So \(\frac{P_1}{M_1}=\frac{P_2}{M_2}.......m_2=\frac{p_2*m_1}{p_1}\) Ans 20% C
_________________
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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07 Jul 2017, 18:30
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lets take 1 gallon of gas - 10$ - gives 30miles same eq : 1 gallon of gas - 12$ - give x miles to breakeven. 12*30/10 = 36 , so miles should increase by 6 means 20% increase. Ans C.
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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07 Jul 2017, 23:31
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Total cost initially = C * fuel => C * Distance/mileage ( mileage = distance/litre) Let initial mileage be m1 and later mileage be m2 Later cost = 1.2C* Distance/m2 Cost has to remain same => C*D/m1 = 1.2 C* D/m2 =>m2 = 1.2m1 => 20% increase in mileage IMO C
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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12 Jul 2017, 15:36
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Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Since the fuel price is directly proportional to mileage of a car; if the fuel price is increased by 20%, the mileage of the car should be increased by 20% as well to keep the total fuel cost the same.
Answer: C
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GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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20 Jul 2017, 04:10
chetan2u wrote:
jedit wrote:
Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Answer: B Lets say Price and Mileage before hike are P1 and M1 respectively. After Hike, they are P2 and M2 respectively.
We need them to be Equal.
\(P1 * M1 = P2 * M2\)
Hi.. We have to be very careful while making the equation Even the Q tells you that the new mileage INCREASE, so the increase cannot be together both in P and M as the equation taken by you..
What is mileage? D/L... D is same ..
So P1/M1=P2/M2.......m2=p2*m1p1 Ans 20% C
Hi Chetan2u,
I guess you mentioned to say, m2 = p2*(m1/p1) _________________
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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30 Aug 2017, 08:26
jedit wrote:
Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Answer: B Lets say Price and Mileage before hike are P1 and M1 respectively. After Hike, they are P2 and M2 respectively.
If price per mile is to stay the same, we need to have this equation.
\(P1 / M1 = P2 / M2\)
\(M2 = P2 * M1/P1\)
but P2 is 1.2 times P1.
\(P1 / M1 = 1.2P1 / M2 * P1\)
\(M2 = 1.2M1\)
Difference is 1.2 or 20%.
Edit: Editing after mistake was pointed out by chetan2u
hi
okay with your solution ...
can you, however, apply the same logic to the following problem ....??
The cost of fuel increases by 10%. By what % must the consumption of fuel decrease to keep the overall amount spent on the fuel same?
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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01 Dec 2017, 06:03
Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Hi, please explain whether mileage is miles/gallon or dollars/mile?
Please also help to solve this question in the most efficient manner. VeritasPrepKarishma your help is greatly appreciated.
_________________
Re: Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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05 Jan 2018, 20:18
ShashankDave wrote:
Bunuel wrote:
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy a new car with better mileage as compared to his current car. By what % should the new mileage be more than the previous mileage to ensure that Mr X’s total fuel cost stays the same for the month? (assuming the distance traveled every month stays the same)[/b]
(A) 10% (B) 17% (C) 20% (D) 21% (E) 25%
Hi, please explain whether mileage is miles/gallon or dollars/mile?
Please also help to solve this question in the most efficient manner. VeritasPrepKarishma your help is greatly appreciated.
---------------------------
This can be seen as a problem with 2 inverse variations: 1. Since Mr.X want to be keep his fuel cost = const , the fuel hike would mean low fuel consumption i.e cost = fuel price * fuel consumption = constant after 20% hike, new fuel price = (fuel price)*(120/100) ---(a) (fuel price) * (fuel consumption) = (new fuel price)*(fuel consumption) On substituting (a) in the above, we get: => new fuel consumption = (fuel consumption) 100/120 {meaning fuel consumption has decreased now)
2. Next is about mileage, now Mr.X wants better mileage to handle the decreased fuel consumption
(old Mileage) * (fuel consumption) = (new mileage) * (new fuel consumption)
since new fuel consumption = (fuel consumption) 100/120
new mileage = (old mileage) * 120/100 => indicating a 20 % increase needed in mileage
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy
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04 Feb 2018, 03:34
Assume Mr.X travels 10 km everyday and requires 10 litres of fuel. so current mileage = 10/10 = 1
Assume current cost of fuel is 1$ per litre => cost of 10litres = 10$ Given hike of 20%, so cost of fuel is 1.2$ per litre.
To have same cost of 10$ for hiked price, number of litres of fuel must be = 10/1.2 litres so new mileage = 10 km/ new number of litres = 10/ (10/1.2) = 1.2
change in mileage = (1.2 - 1) = 0.2 = 20% (C)
gmatclubot
Recently, fuel price has seen a hike of 20%. Mr X is planning to buy &nbs
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04 Feb 2018, 03:34
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63% (02:09) correct 
