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Percent price

by karthikpandian19 » Sun May 27, 2012 5:16 pm
During a sale, the price per pound of raisins was decreased by 40 percent. Simon decides to increase the weight of raisins that he buys so that he spends the same amount on raisins that he would have spent on raisins before the sale. By approximately what percent does Simon increase the weight of the raisins that he buys?


30%


33%


40%


60%


67%

Answer with explanation required....URGENT
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by sam2304 » Sun May 27, 2012 8:01 pm
Price be p and weight be w.

p becomes 0.6p
w becomes x/100*w.

before sale = pw
after sale,

0.6p*wx/100 = pw
0.6*x/100 = 1
x = 100/0.6
x = 1000/6
= 166.66

x gives us the increased weight. The actual weight is 100

So weight is increased by 66.67 ~= 67%

Another approach is consider numbers.

Initial amount/pound = 100
after decrease you get it for 60.

So 40 is left. How much can you get for 40 ?

40/60*100 = 66.67 same answer. This is much better than the above approach.

IMO E.
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by eagleeye » Sun May 27, 2012 8:48 pm
Hi karthikpandian19:

This is how I do these types of questions the fastest.

First we have that price per pound was decreased by 40%, hence it must be decreased to 60%.
Initial amount spent (price per pound * initial weight) = pw, let change in w be a.

Then to keep the total amount spent constant: We have 60%p*wnew=pw;
wnew = 1/0.6 = 5/3 = 1.67 therefore, the weight must be increased by 67%.

Here I wrote down the explanations, but once you have seen one question of this exact type, where the total remains constant, just use the following equation.

initial unit price * initial quantity = final price * final quantity.

Let me know if this helps :)
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by aneesh.kg » Sun May 27, 2012 8:56 pm
karthikpandian19 wrote:During a sale, the price per pound of raisins was decreased by 40 percent. Simon decides to increase the weight of raisins that he buys so that he spends the same amount on raisins that he would have spent on raisins before the sale. By approximately what percent does Simon increase the weight of the raisins that he buys?


30%


33%


40%


60%


67%

Answer with explanation required....URGENT
Since Simon wants to spend the same amount initially and finally,
Money spent initially = Money spent finally
initial weight*initial price per weight = final weight*final price per weight
W1*P = W2*0.6P
W2 = W2/0.6 = (5/3)*W1 = W1 + (2/3)*W1 = W1 + 66.66% of W1
or
W1 has to be increased by [spoiler]67%[/spoiler] (approximately).

[spoiler](E)[/spoiler] is correct.
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by karthikpandian19 » Sun May 27, 2012 10:31 pm
I like second one....thts very fast approach
sam2304 wrote:Price be p and weight be w.

p becomes 0.6p
w becomes x/100*w.

before sale = pw
after sale,

0.6p*wx/100 = pw
0.6*x/100 = 1
x = 100/0.6
x = 1000/6
= 166.66

x gives us the increased weight. The actual weight is 100

So weight is increased by 66.67 ~= 67%

Another approach is consider numbers.

Initial amount/pound = 100
after decrease you get it for 60.

So 40 is left. How much can you get for 40 ?

40/60*100 = 66.67 same answer. This is much better than the above approach.

IMO E.
Regards,
Karthik
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by GMATGuruNY » Mon May 28, 2012 3:19 am
karthikpandian19 wrote:During a sale, the price per pound of raisins was decreased by 40 percent. Simon decides to increase the weight of raisins that he buys so that he spends the same amount on raisins that he would have spent on raisins before the sale. By approximately what percent does Simon increase the weight of the raisins that he buys?


30%


33%


40%


60%


67%

Answer with explanation required....URGENT
Let the price per pound = 10.
Let the weight = 10 pounds.
Total cost = 10*10 = 100.

Price per pound reduced by 40% = 6.
Since the cost remains 100, new weight = 100/6 = 16.67.

The weight increases from 10 to 16.67, an increase of 67%.

The correct answer is E.
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