Towels - Applied problems

Expert replies

anirudhbhalotia: Master | Next Rank: 500 Posts; Posts: 123; Joined: Tue Nov 23, 2010 7:18 pmFollowed by: 4 members; Location: Mumbai, India; Thanked: 5 times

by anirudhbhalotia » Thu Mar 10, 2011 9:17 am

A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by $1, 10 fewer towels could be bought for $120, excluding sales tax. What is the current price of each towel?

A. $1
B. $2
C. $3
D. $4
E. $12

OA - C

I somehow didn't get the question. Some explanation would be nice. Thanks!

"Change is never a matter of ability but always a matter of motivation" - Anthony Robbins

Source: Beat The GMAT — Problem Solving | Thu Mar 10, 2011 9:17 am

force5: Legendary Member; Posts: 582; Joined: Tue Mar 08, 2011 12:48 amFollowed by: 6 members; Thanked: 61 times; GMAT Score:740

by force5 » Thu Mar 10, 2011 9:30 am

here is my take
let the current price be x
towels that can be bought @ x = 120/x

price increase x+1
towels that can be bought @x+1 = 120/x+1

difference in the quantity of towels bought is given as 10 hence
120/x - 120/x+1 = 10
solving for x you will get x= 3
hence current price is $3 ( choice C)
hope that helps

anirudhbhalotia: Master | Next Rank: 500 Posts; Posts: 123; Joined: Tue Nov 23, 2010 7:18 pmFollowed by: 4 members; Location: Mumbai, India; Thanked: 5 times

by anirudhbhalotia » Thu Mar 10, 2011 9:57 am

force5 wrote:here is my take
let the current price be x
towels that can be bought @ x = 120/x

price increase x+1
towels that can be bought @x+1 = 120/x+1

difference in the quantity of towels bought is given as 10 hence
120/x - 120/x+1 = 10
solving for x you will get x= 3
hence current price is $3 ( choice C)
hope that helps

Fantastic...super simplified!

"Change is never a matter of ability but always a matter of motivation" - Anthony Robbins

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 » Thu Mar 10, 2011 11:23 am

anirudhbhalotia wrote:A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by $1, 10 fewer towels could be bought for $120, excluding sales tax. What is the current price of each towel?

A. $1
B. $2
C. $3
D. $4
E. $12

OA - C

I somehow didn't get the question. Some explanation would be nice. Thanks!

The easiest -- and quickest -- approach is to plug in the answers, which represent the price per towel.

Answer choice C: price per towel = $3
For $120, 120/3 = 40 towels could be bought.
Price increased by $1 = 3+1 = $4 per towel.
For $120, 120/4 = 30 towels could be bought.
40-30 = 10 fewer towels. Success!

The correct answer is C.

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

anirudhbhalotia: Master | Next Rank: 500 Posts; Posts: 123; Joined: Tue Nov 23, 2010 7:18 pmFollowed by: 4 members; Location: Mumbai, India; Thanked: 5 times

by anirudhbhalotia » Tue Mar 15, 2011 9:23 am

GMATGuruNY wrote:
anirudhbhalotia wrote:A store currently charges the same price for each towel that it sells. If the current price of each towel were to be increased by $1, 10 fewer towels could be bought for $120, excluding sales tax. What is the current price of each towel?

A. $1
B. $2
C. $3
D. $4
E. $12

OA - C

I somehow didn't get the question. Some explanation would be nice. Thanks!
The easiest -- and quickest -- approach is to plug in the answers, which represent the price per towel.

Answer choice C: price per towel = $3
For $120, 120/3 = 40 towels could be bought.
Price increased by $1 = 3+1 = $4 per towel.
For $120, 120/4 = 30 towels could be bought.
40-30 = 10 fewer towels. Success!

The correct answer is C.

This solution rocks too!!!

"Change is never a matter of ability but always a matter of motivation" - Anthony Robbins

Featured schoolRound 2 closes Jan 7, 2027 53 days left

Chicago Booth

Since 1982, 10 Booth faculty members have received the Nobel Prize in Economic Sciences, more than any other business school.

#3
U.S. News rank: $175,000
Median base salary: 670
Average GMAT Focus: 635
Students in the class

Apply to Booth Visit chicagobooth.edu See the full profile

Photo: Warren LeMay, CC BY-SA 2.0

GMAT Course Reviews

563 reviews

1168 reviews

431 reviews

359 reviews

147 reviews

5/5

5 Star (563 Reviews)

"Target Test Prep is the closest to the official version of the GMAT exam, about 99% accuracy in terms of the quality and quantity of information. The course has excellently created singular sets of focused lessons and tests for every possible topic that one could come across in the official GMAT exam."

"The TTP course maximizes the efficiency of the time you spend studying. It will take time and effort but I could almost guarantee that if you complete the course exactly as it is laid out you will get an amazing score. They also have a very responsive team willing to help with any questions you might have."

"TTP has two things that I think no other test prep company offers: A teaching approach that reinforces understanding and an attitude that will give you the mental preparedness needed to succeed on the test. TTP gives you a deep understanding of the concept you need to know while teaching you how to think."

Write a Review