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

5% (low)

Question Stats:

96% (00:36) correct 4% (00:48) wrong based on 2183 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 17 Jun 2015, 23:53 1 2 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 _________________ 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 ACCESS FREE GMAT TESTS HERE: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: 15729 Location: United States (CA) GMAT 1: 800 Q51 V49 GRE 1: Q170 V170 Re: The price of a coat in a certain store is$500. If the price of the co  [#permalink]

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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%

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Rich
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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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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.