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A person bought a ticket to a ball game for \(\$15\) and later sold the ticket for \(\$60.\) What was the percent increa

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by M7MBA » Sun Jun 14, 2020 8:47 am
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A person bought a ticket to a ball game for \(\$15\) and later sold the ticket for \(\$60.\) What was the percent increase in the price of the ticket?

(A) \(25\%\)
(B) \(33\frac13\%\)
(C) \(75\%\)
(D) \(300\%\)
(E) \(400\%\)

[spoiler]OA=D[/spoiler]

Source: Official Guide
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Re: A person bought a ticket to a ball game for \(\$15\) and later sold the ticket for \(\$60.\) What was the percent in

by Brent@GMATPrepNow » Sun Jun 14, 2020 11:41 am
M7MBA wrote: ↑
Sun Jun 14, 2020 8:47 am
 A person bought a ticket to a ball game for \(\$15\) and later sold the ticket for \(\$60.\) What was the percent increase in the price of the ticket?

(A) \(25\%\)
(B) \(33\frac13\%\)
(C) \(75\%\)
(D) \(300\%\)
(E) \(400\%\)

[spoiler]OA=D[/spoiler]

Source: Official Guide
Percent increase = (100)(new value - old value)/(old value)
= 100(60 - 15)/(15)
= 100(45)/(15)
= 300 (percent)

Answer: D

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
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