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by cricfan31 » Sun Jul 17, 2011 11:09 pm
Hi,

Can you please suggest how to solve the attached problem.

Thanks,
Ashish
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by Geva@EconomistGMAT » Sun Jul 17, 2011 11:32 pm
cricfan31 wrote:Hi,

Can you please suggest how to solve the attached problem.

Thanks,
Ashish
$400 is 6.5 percent of selling price.

400=6.5/100 * SP

6.5 goes ~15 times into 100:
10*6.5 is 65 (35 remaining)
5*6.5= 32.5, which is close enough to the 35 remaining.

so the equation can be ballparked as
400= 1/15 * SP
SP = 400*15 = 6000.

so we know the answer needs to be around 6000 (eliminate A, B, and C), but not actually equal to 6000 (eliminate D and choose E). If you want to be sure, check whether the answer needs to be greater than 6000 or smaller:

Since 6.5 actually goes slightly more than 15 times into 100, 6.5/100 is actually 1/15+, and the SP is actually 400 * 15+ - slightly greater than 400*15=6000. Choose E with a high degree of confidence and move on.
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by winniethepooh » Mon Jul 18, 2011 8:21 am
5000 * 8 /100 = 400
So, as per the given information = 400 = 6.5 % of Selling Price:400 * 100/6.5 or 400 * 1000 / 65
So, 6.24 * 1000( 65 goes 6.24 times for 400)= 6240.
Nearest answer = 6154.
Hence, E.[spoiler][/spoiler]
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