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

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The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post Updated on: 18 Jun 2015, 01:16
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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]

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New post 18 Jun 2015, 17:42
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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:

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Re: The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post 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%

Answer: Option
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Re: The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post 23 Jun 2016, 01:17
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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.
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Re: The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post 01 Nov 2018, 00:18
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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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New post 11 Apr 2016, 10:42
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Re: The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post 17 Apr 2016, 00:29
(150/500)*100 = 30%
correct answer - E
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Re: The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post 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%
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Re: The price of a coat in a certain store is $500. If the price of the co  [#permalink]

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New post 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

Answer: E
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Re: The price of a coat in a certain store is $500. If the price of the co   [#permalink] 02 May 2016, 09:25
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