Percentages

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shankar.ashwin: Legendary Member; Posts: 966; Joined: Sat Jan 02, 2010 8:06 amFollowed by: 21 members; Thanked: 230 times

by shankar.ashwin » Sat Nov 05, 2011 12:21 am

A certain juice manufacturer increased the number of ounces in Product N by 25 percent but did not change the price. What was the resulting percent decrease in the price per ounce of Product N?

(A) 10%
(B) 20%
(C) 25%
(D) 30%
(E) 35%

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Source: Beat The GMAT — Problem Solving | Sat Nov 05, 2011 12:21 am

chaitanyabhansali: Junior | Next Rank: 30 Posts; Posts: 20; Joined: Sun Apr 17, 2011 7:16 amFollowed by: 1 member

by chaitanyabhansali » Sat Nov 05, 2011 12:55 am

IMO : B (20%)
What's the answer, btw?

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rijul007: Legendary Member; Posts: 588; Joined: Sun Oct 16, 2011 9:42 amFollowed by: 9 members; Location: New Delhi, India; Thanked: 130 times; GMAT Score:720

by rijul007 » Sat Nov 05, 2011 2:30 am

Initially,
Let 100 ounces = $100
$1 per ounce

After increase in number of ounces,
125 ounces = $100
$100/125 per ounce

% decrease in price per ounce = [(1 - 100/125) / 1] * 100 = (1/5) * 100 = 20 %

Option B

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GMATGuruNY: GMAT Instructor; Posts: 15539; Joined: Tue May 25, 2010 12:04 pmFollowed by: 1906 members; Location: New York, NY; Thanked: 13060 times; GMAT Score:790

by GMATGuruNY » Sat Nov 05, 2011 4:12 am

shankar.ashwin wrote:A certain juice manufacturer increased the number of ounces in Product N by 25 percent but did not change the price. What was the resulting percent decrease in the price per ounce of Product N?

(A) 10%
(B) 20%
(C) 25%
(D) 30%
(E) 35%

4 ounces at $5 per ounce = 4*5 = $20.
The number of ounces increased by 1/4 = 4 + (1/4)4 = 5.
5 ounces at the same price = 20/5 = $4 per ounce.
Percent decrease in price per ounce = (5-4)/5 * 100 = 20%.

The correct answer is B.

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