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

It is currently 24 Jun 2018, 17:40

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

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

The price of a certain product increased by the same percent

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

Hide Tags

1 KUDOS received
Director
Director
avatar
Joined: 29 Nov 2012
Posts: 819
The price of a certain product increased by the same percent [#permalink]

Show Tags

New post 04 Sep 2013, 00:43
1
3
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

75% (01:18) correct 25% (01:21) wrong based on 163 sessions

HideShow timer Statistics

The price of a certain product increased by the same percent from 1960 to 1970 as from 1970 to 1980. If its price of $1.20 in 1970 was 150 percent of its price in 1960, what was its price in 1980?

a) $ 1.80
b) $ 2.00
c) $ 2.40
d) $ 2.70
e) $ 3.00

Please provide explanations! Thanks

_________________

Click +1 Kudos if my post helped...

Amazing Free video explanation for all Quant questions from OG 13 and much more http://www.gmatquantum.com/og13th/

GMAT Prep software What if scenarios http://gmatclub.com/forum/gmat-prep-software-analysis-and-what-if-scenarios-146146.html

Expert Post
1 KUDOS received
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 46319
Re: The price of a certain product increased by the same percent [#permalink]

Show Tags

New post 04 Sep 2013, 03:06
1
fozzzy wrote:
The price of a certain product increased by the same percent from 1960 to 1970 as from 1970 to 1980. If its price of $1.20 in 1970 was 150 percent of its price in 1960, what was its price in 1980?

a) $ 1.80
b) $ 2.00
c) $ 2.40
d) $ 2.70
e) $ 3.00


The price in 1970 was 150 percent of its price in 1960, means that the percent increase was 50% from 1960 to 1970 (and from 1970 to 1980).

Therefore the price in 1980 = $1.2*1.5 = $1.8.

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

Director
Director
User avatar
Joined: 25 Apr 2012
Posts: 702
Location: India
GPA: 3.21
WE: Business Development (Other)
Premium Member Reviews Badge
Re: The price of a certain product increased by the same percent [#permalink]

Show Tags

New post 04 Sep 2013, 03:12
fozzzy wrote:
The price of a certain product increased by the same percent from 1960 to 1970 as from 1970 to 1980. If its price of $1.20 in 1970 was 150 percent of its price in 1960, what was its price in 1980?

a) $ 1.80
b) $ 2.00
c) $ 2.40
d) $ 2.70
e) $ 3.00

Please provide explanations! Thanks



Let the price in 60's be x
In 1970s the price is $1.2

as per Q, x* 150/100= 1.2

And as the percent increase in price is same so in 1980's the price will be 1.2*150/100= $1.8
_________________


“If you can't fly then run, if you can't run then walk, if you can't walk then crawl, but whatever you do you have to keep moving forward.”

Intern
Intern
avatar
Joined: 14 Mar 2013
Posts: 47
Location: United States
Concentration: General Management, Leadership
GMAT Date: 12-03-2013
WE: General Management (Retail)
Re: The price of a certain product increased by the same percent [#permalink]

Show Tags

New post 19 Nov 2013, 15:27
1.20 - 150%
X - 100%

X = (1.20*100%)/150% → x = 0.80

0.80 + (Y/100)*0.80 = 120 → Y = 50/100 = 50%

Z = 1.20*1.5 = 1.80

IMO A
Expert Post
1 KUDOS received
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2570
Re: The price of a certain product increased by the same percent [#permalink]

Show Tags

New post 27 Nov 2017, 19:07
1
fozzzy wrote:
The price of a certain product increased by the same percent from 1960 to 1970 as from 1970 to 1980. If its price of $1.20 in 1970 was 150 percent of its price in 1960, what was its price in 1980?

a) $ 1.80
b) $ 2.00
c) $ 2.40
d) $ 2.70
e) $ 3.00


Since the product’s 1970 price was 150 percent of its price in 1960, it must be true that its 1980 price was 150 percent of its price in 1970. Thus, by letting x = the price in 1980, we have:

x = 1.5(1.2)

x = 1.8

Answer: A
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Re: The price of a certain product increased by the same percent   [#permalink] 27 Nov 2017, 19:07
Display posts from previous: Sort by

The price of a certain product increased by the same percent

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


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®.