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

Redeem

GMAT Prep #2_PS Percents #35

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Source: — Problem Solving |
Senior | Next Rank: 100 Posts
Posts: 74
Joined: Sun Sep 05, 2010 3:11 pm
Thanked: 3 times

by klmehta03 » Mon Apr 02, 2012 11:38 am
Let the purchase price be X
at 8% sales tax (ST) ; ST @ 8%= 0.08X... (1)
at 5% sales tax (ST) ; ST @ 5%= 0.05X... (2)
0.08X-0.05X=12
X=400
Total proce w/ ST= 400+400*(0.08)
=432
Top
User avatar
GMAT Instructor
Posts: 1248
Joined: Thu Mar 29, 2012 2:57 pm
Location: Everywhere
Thanked: 503 times
Followed by:192 members
GMAT Score:780

by Bill@VeritasPrep » Mon Apr 02, 2012 2:33 pm
I solved this one a little differently. We have a difference of 3% in sales tax rates and $12 in purchase price. At 3%, we are paying $3 in tax per $100. 12/3 = 4, so the base price is $400. At 8%, we're paying $8 per $100, so the tax amount is 8*4 = 32.

400 + 32 = $432
Join Veritas Prep's 2010 Instructor of the Year, Matt Douglas for GMATT Mondays

Visit the Veritas Prep Blog

Try the FREE Veritas Prep Practice Test
Top
User avatar
GMAT Instructor
Posts: 15539
Joined: Tue May 25, 2010 12:04 pm
Location: New York, NY
Thanked: 13060 times
Followed by:1906 members
GMAT Score:790

by GMATGuruNY » Mon Apr 02, 2012 2:38 pm
I posted an alternate approach here:

https://www.beatthegmat.com/percent-change-t107610.html
Private tutor exclusively for the GMAT and GRE, with over 20 years of experience.
Followed here and elsewhere by over 1900 test-takers.
I have worked with students based in the US, Australia, Taiwan, China, Tajikistan, Kuwait, Saudi Arabia -- a long list of countries.
My students have been admitted to HBS, CBS, Tuck, Yale, Stern, Fuqua -- a long list of top programs.

As a tutor, I don't simply teach you how I would approach problems.
I unlock the best way for YOU to solve problems.

For more information, please email me (Mitch Hunt) at [email protected].
Student Review #1
Student Review #2
Student Review #3
Top

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3835
Joined: Fri Apr 02, 2010 10:00 pm
Location: Milpitas, CA
Thanked: 1854 times
Followed by:523 members
GMAT Score:770

by Anurag@Gurome » Mon Apr 02, 2012 9:21 pm
kwah wrote:Please advise how to achieve the result in the attached question. Thanks, K

Answer: E
Let us assume that Connie's purchase = $x
Then 5% of x = 8% of x - 12
0.05x = 0.08x - 12
12 = 0.03x
So, x = $400

Therefore, the total amount Connie paid for her purchase including sales tax = 400 + (0.08 * 400) = [spoiler]$432[/spoiler]

The correct answer is E.
Anurag Mairal, Ph.D., MBA
GMAT Expert, Admissions and Career Guidance
Gurome, Inc.
1-800-566-4043 (USA)

Join Our Facebook Groups
GMAT with Gurome
https://www.facebook.com/groups/272466352793633/
Admissions with Gurome
https://www.facebook.com/groups/461459690536574/
Career Advising with Gurome
https://www.facebook.com/groups/360435787349781/
Top
Post new topic Post Reply
• Page 1 of 1