Source: Official Guide for GMAT Review 2016 Problem Solving; #1

79

The price of a coat in a certain

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?

4 Explanations

8

Louis Puma

Since we are solving for a percentage we can set up the simple equation: 150/500 = x/100. Cross multiply to get 500x = 15,000. Divide both sides by 500 and you get x=30. Answer choice E.

Aug 4, 2016 • Comment

Sam Kinsman, Magoosh Tutor

Yes, that works perfectly - good job! :D

Aug 8, 2016 • Reply

4

Jonathan R Holland

Lets say we divide the cost of the coat by 50% , that's $250.

We can divide the cost of $250 again by 50% (which is actually 25% of the total cost), its now $125.

We can see from the answer selections that $125 is a 25% reduction in price, so that would mean 30% is equal to a $150 reduction.

Jun 24, 2016 • Comment

7

Poojitha Joseph Mallavarapu

Right Option :E

Explanation: Price of a coat is $500
Cost reduced by $150
Find the percentage of price reduced.

500*x/100=150
Let "X" be the percentage decrease.
x=150/5 =30
Hence: 30% decrease of $500 would be $150.

Sep 30, 2015 • Comment

5

Naimah Bilal

The question is asking for the percent of the price reduction. We're solving for p (percent) and one option is to set this up as an equation as follows:

The coat was originally $500. It is being reduced by $150. *Note, $150 references the amount of the discount, and not the discounted price which is $350.

So -> 150=500p
(500 times some percentage, gives us a reduction of 150)

Divide both sides by 500 and we get -> 150/500=p

Reduce the rational expression and multiply by 100 to get a percent -> (3/10 * 100) so p= 30%

The fastest route, however, is just to utilize a part to whole ratio and multiply by 100 to get a percent:

(150/500)*100=(3/10 * 100)%=30%

Sep 16, 2015 • Comment

Sam Kinsman, Magoosh Tutor

That's right, good explanation Naimah!

Nov 3, 2015 • Reply

Poojitha Joseph Mallavarapu

Great! Thanks Naimah :)

Nov 4, 2015 • Reply

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