weight is reduced by 4/5 (which is 80%)
so price incereases by 5/4 (which is 125%)
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Source: Beat The GMAT — Problem Solving |
L:ets say 1 ounce was 1 $ before the volume got reduced.
After the volume got reduced
.8 ounces 1 $ therefore 1 ounce will be 1.25 $
Percent Inc = 1.25 - 1 / 1 * 100 = 25 % (New-old/old*100)
After the volume got reduced
.8 ounces 1 $ therefore 1 ounce will be 1.25 $
Percent Inc = 1.25 - 1 / 1 * 100 = 25 % (New-old/old*100)
or if you want to do it algebraically...
original Price/pound= P/W
New P/0.8 W
% increase= (P/0.8W-P/W )/P/W
comes out to 1/4 or 25%.
I guess teh easiest way to do this one is as 4meonly suggests...
original Price/pound= P/W
New P/0.8 W
% increase= (P/0.8W-P/W )/P/W
comes out to 1/4 or 25%.
I guess teh easiest way to do this one is as 4meonly suggests...
