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If the cost of a yearly membership in a certain club increased from $199 to $ 299, what was the approximate percent

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by BTGmoderatorLU » Thu Jan 06, 2022 4:24 am
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Source: GMAT Prep

If the cost of a yearly membership in a certain club increased from $199 to $299, what was the approximate percent increase in cost?

A. 33%
B. 50%
C. 66 2/3%
D. 100%
E. 150%

The OA is B
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Re: If the cost of a yearly membership in a certain club increased from $199 to $ 299, what was the approximate percent

by Brent@GMATPrepNow » Thu Jan 06, 2022 7:56 am
BTGmoderatorLU wrote: ↑
Thu Jan 06, 2022 4:24 am
 Source: GMAT Prep

If the cost of a yearly membership in a certain club increased from $199 to $299, what was the approximate percent increase in cost?

A. 33%
B. 50%
C. 66 2/3%
D. 100%
E. 150%

The OA is B
When I scan the answer choices (ALWAYS scan the answer choices before determining which approach to use), I see that the answer choices are nicely spread apart. This means we can be quite aggressive with our estimation
For more on this, watch the video below

Percent increase = (100)(new value - old value )/(old value)

Percent increase = (100)(299 - 199)/(199) ≈ (100)(300 - 200)/(200)
≈ (100)(100)/(200)
≈ (100)(1)/(2)
≈ 50%

Answer: B

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
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