BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Dealing with a percentage problem

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
Legendary Member
Posts: 566
Joined: Fri Jan 04, 2008 11:01 am
Location: Philadelphia
Thanked: 31 times
GMAT Score:640

Dealing with a percentage problem

by AleksandrM » Wed Mar 19, 2008 5:00 pm
:evil: I am getting so frustrated with this reocurring dilemma.

The following problem is from OG PS.

Diana bought a stereo for $530, which was the retail price plus 6 percent sales tax. How much money could she have saved if she had bought the stereo at the same retail price in a neighboring state where she would have paid a sales tax of 5 percent?

I know the set-up x + .06x = 530
1.06x = 530
x = 530/1.06

This is the part that is my personal dilemma. How to divide this last part? I cannot come up with a useful shortcut. Also, this is not exactly a problem that you can eyeball the answer for. Because you need the exact amount, then calculate by .05, then subtract and get the exact savings.
Top
Source: — Problem Solving |
Senior | Next Rank: 100 Posts
Posts: 65
Joined: Tue Jan 08, 2008 10:40 am
Location: Canada
Thanked: 4 times

by rajmirra » Wed Mar 19, 2008 5:14 pm
OK. Here is how I would solve this problem.

If 106% is 530 what is 105%?

(530/106)*105= (5/1)*105= 525

The difference is 530-525 which is $5.

Hope this helps a bit!

~R
Top
Newbie | Next Rank: 10 Posts
Posts: 5
Joined: Wed Mar 19, 2008 12:27 am
Thanked: 1 times

Re: Dealing with a percentage problem

by aarunibens » Wed Mar 19, 2008 10:48 pm
Problems where calculators are not allowed usually are in forms of multiples of numerator or the denominator. If not then you quickly have to guess, how many times is the numerator of the denominator or vice-versa. It is then easier to get close to the answer.

In this case 106 is 2 times 53.
Top
Newbie | Next Rank: 10 Posts
Posts: 1
Joined: Sun Mar 16, 2008 11:30 am

divsion

by neobaby » Fri Mar 21, 2008 8:45 am
its basically 530/1.06 = (530/106)*100
This makes things simple as 530/106 =5

5*100 = 500

hope this helps
Top
Newbie | Next Rank: 10 Posts
Posts: 5
Joined: Tue Mar 04, 2008 11:11 am
Location: Boston, MA
Followed by:1 members

by yev23 » Fri Mar 21, 2008 10:36 am
It's actually simple to calculate 530/1.06 if one realizes that 530 = 5*106 (or 5*100 + 5*6). 5% of 500 is even easier: 5% of 100 is 5, so 5*5 = 25. So you've got 530-525 = 5.
Top
Post new topic Post Reply
• Page 1 of 1