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

 It is currently 26 Apr 2018, 21:56

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

Updated on: 18 Jun 2015, 01:16
3
This post was
BOOKMARKED
00:00

Difficulty:

5% (low)

Question Stats:

95% (00:24) correct 5% (00:24) wrong based on 1491 sessions

HideShow timer Statistics

The price of a coat in a certain store is $500. If the price of the coat is to be reduced by$150, by what percent is the price to be reduced?

(A) 10%
(B) 15%
(C) 20%
(D) 25%
(E) 30%

2016 GMAT Official Guide, Question 1, Pg. 152
[Reveal] Spoiler: OA

Originally posted by LithiumIon on 17 Jun 2015, 22:26.
Last edited by Bunuel on 18 Jun 2015, 01:16, edited 1 time in total.
Renamed the topic and edited the question.
SVP
Joined: 08 Jul 2010
Posts: 2068
Location: India
GMAT: INSIGHT
WE: Education (Education)
Re: The price of a coat in a certain store is $500. If the price of the co [#permalink] Show Tags 17 Jun 2015, 23:53 1 This post received KUDOS Expert's post LithiumIon wrote: 2016 GMAT Official Guide, Question 1, Pg. 152 The price of a coat in a certain store is$500. If the price of the coat is to be reduced by $150, by what percent is the price to be reduced? (A) 10% (B) 15% (C) 20% (D) 25% (E) 30% price of a coat in a certain store =$500

the price of the coat is to be reduced by $150 % change = (Final Value - Initial Value)*100 / Initial Value % Reduction= (Reduction in Price)*100 / Initial Value i.e. % Reduction= (150)*100 / 500 = 30% Answer: Option [Reveal] Spoiler: E _________________ Prosper!!! GMATinsight Bhoopendra Singh and Dr.Sushma Jha e-mail: info@GMATinsight.com I Call us : +91-9999687183 / 9891333772 Online One-on-One Skype based classes and Classroom Coaching in South and West Delhi http://www.GMATinsight.com/testimonials.html 22 ONLINE FREE (FULL LENGTH) GMAT CAT (PRACTICE TESTS) LINK COLLECTION EMPOWERgmat Instructor Status: GMAT Assassin/Co-Founder Affiliations: EMPOWERgmat Joined: 19 Dec 2014 Posts: 11518 Location: United States (CA) GMAT 1: 800 Q51 V49 GRE 1: 340 Q170 V170 Re: The price of a coat in a certain store is$500. If the price of the co [#permalink]

Show Tags

18 Jun 2015, 17:42
2
KUDOS
Expert's post
Hi LithiumIon,

This is one of the *new* questions from the OG2016. A PDF listing of all the new questions (by number) can be found here:

empowergmat-blog-198415.html

A certain percentage of questions in the Quant section of the GMAT are just 'math questions' - you'll use a formula, do some calculations and you'll have the answer. This is one of those types of questions. You still have to write everything down and stay organized, but the work involved is relatively straight-forward.

Here, we're told that the price of a coat is $500 and that the price of the coat is to be reduced by$150. We're asked by what PERCENT is the price to be REDUCED?

Original Price = $500 Reduction =$150

The percent reduction is relative to the original price of the coat:

150/500 = 15/50 = 3/10 = 30%

[Reveal] Spoiler:
E

GMAT assassins aren't born, they're made,
Rich
_________________

760+: Learn What GMAT Assassins Do to Score at the Highest Levels
Contact Rich at: Rich.C@empowergmat.com

Rich Cohen

Co-Founder & GMAT Assassin

Special Offer: Save $75 + GMAT Club Tests Free Official GMAT Exam Packs + 70 Pt. Improvement Guarantee www.empowergmat.com/ ***********************Select EMPOWERgmat Courses now include ALL 6 Official GMAC CATs!*********************** SVP Joined: 12 Sep 2015 Posts: 2325 Location: Canada Re: The price of a coat in a certain store is$500. If the price of the co [#permalink]

Show Tags

11 Apr 2016, 10:42
Related Resources
The following free video covers the concepts/strategies that are useful for answering this question:

Cheers,
Brent
_________________

Brent Hanneson – Founder of gmatprepnow.com

Director
Joined: 24 Nov 2015
Posts: 576
Location: United States (LA)

Show Tags

17 Apr 2016, 03:35
500-150 is 350

350/500

To get from 500 to 100 (which is the reference point for percentages), you divide by 5. Then divide 350 by 5 to get 70.
70/100 means that the price dropped by 30%
_________________

Took the Gmat and got a 520 after studying for 3 weeks with a fulltime job. Now taking it again, but with 6 weeks of prep time and a part time job. Studying every day is key, try to do at least 5 exercises a day.

Target Test Prep Representative
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 2493
Location: United States (CA)

Show Tags

23 Jun 2016, 01:17
LithiumIon wrote:
The price of a coat in a certain store is $500. If the price of the coat is to be reduced by$150, by what percent is the price to be reduced?

(A) 10%
(B) 15%
(C) 20%
(D) 25%
(E) 30%

2016 GMAT Official Guide, Question 1, Pg. 152

10% of 500 is 50.

$$50*3 =150$$

30% = 150

E.
Non-Human User
Joined: 09 Sep 2013
Posts: 6647
Re: The price of a coat in a certain store is $500. If the price of the co [#permalink] Show Tags 02 Jan 2018, 04:42 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. _________________ Re: The price of a coat in a certain store is$500. If the price of the co   [#permalink] 02 Jan 2018, 04:42
Display posts from previous: Sort by