The price of a coat in a certain store is $500. If the price of the co

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%

Final Answer:

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