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Updated on: 18 Jun 2015, 01:16
5
14
00:00

Difficulty:

5% (low)

Question Stats:

96% (00:36) correct 4% (00:48) wrong based on 2143 sessions

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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

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.
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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 3 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 _________________ Contact Rich at: Rich.C@empowergmat.com The Course Used By GMAT Club Moderators To Earn 750+ souvik101990 Score: 760 Q50 V42 ★★★★★ ENGRTOMBA2018 Score: 750 Q49 V44 ★★★★★ CEO Status: GMATINSIGHT Tutor Joined: 08 Jul 2010 Posts: 2977 Location: India GMAT: INSIGHT Schools: Darden '21 WE: Education (Education) Re: The price of a coat in a certain store is$500. If the price of the co  [#permalink]

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17 Jun 2015, 23:53
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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%

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01 Nov 2018, 00:18
1
Agreed to all solutions; we can do it by quick math
100% of 500 = 500.0
10% of 500 = 50.0

Now we can apply either additive principle or multiplication one:

If we go with the additive principle:
10%+10%+10% = 30%
50+50+50 = 150

If we do it by the multiplicative principle:
10%*3 = 30%
50*3 = 150.0

Just two different approaches to get to the same answer.
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17 Apr 2016, 00:29
(150/500)*100 = 30%
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02 May 2016, 09:25
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

Solution:

We are given that the price of a coat is $500 and that the price is reduced by$150. Thus, the price is reduced by:

150/500 x 100 = 3/10 x 100 = 30 percent

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