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08 May 2022, 02:17
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
78% (01:08) correct
22%
(01:25)
wrong
based on 576
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Yesterday the price of a certain stock increased by 0.75 of 1 percent. By what fraction did the price of the stock increase yesterday?
A. 3/4
B. 1/75
C. 3/40
D. 3/400
E. 1/7,500
Source: Skills Insight
A. 3/4
B. 1/75
C. 3/40
D. 3/400
E. 1/7,500
Source: Skills Insight
31 May 2022, 15:19
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Quote:
Yesterday the price of a certain stock increased by 0.75 of 1 percent. By what fraction did the price of the stock increase yesterday?
A. 3/4
B. 1/75
C. 3/40
D. 3/400
E. 1/7,500
All right, since no one has posted a solution yet, I will offer my thoughts. You have to love it when GMAC™ decides to publish new questions, and I, for one, am enjoying the Skills Insight platform.A. 3/4
B. 1/75
C. 3/40
D. 3/400
E. 1/7,500
Here, if we are careful about translating the statement into mathematical language, the question becomes pretty easy. Since the question stem specifies what fraction and the answer choices are given as fractions, we should look to do the same with the information provided.
- 0.75 is the same as 3/4
- 1 percent is 1/100
\(\frac{3}{4} * \frac{1}{100} = \frac{3}{400}\)
The answer is (D). (If you had any doubts, notice how the language matches up between the two sentences: increased by and by what... increase; there is no tricky turn of phrase.)
Good luck with your studies, everyone.
- Andrew
01 Jun 2022, 07:55
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By definition, 1 percent = \(\frac{1 }{ 100}\).
Also, the fractional equivalent of 0.75 = \(\frac{3 }{ 4}\)
Increase in the price of the stock = 0.75 OF 1 percent.
The word OF always represents multiplication. Therefore, 0.75 OF 1 percent = 0.75 * 1 percent.
Substituting the values, 0.75 * 1 percent = \(\frac{3 }{ 4}\) * \(\frac{1 }{ 100}\) = \(\frac{3 }{ 400}\).
Therefore, increase in the price of the stock = \(\frac{3 }{ 400}\).
The correct answer option is D.
Also, the fractional equivalent of 0.75 = \(\frac{3 }{ 4}\)
Increase in the price of the stock = 0.75 OF 1 percent.
The word OF always represents multiplication. Therefore, 0.75 OF 1 percent = 0.75 * 1 percent.
Substituting the values, 0.75 * 1 percent = \(\frac{3 }{ 4}\) * \(\frac{1 }{ 100}\) = \(\frac{3 }{ 400}\).
Therefore, increase in the price of the stock = \(\frac{3 }{ 400}\).
The correct answer option is D.
