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

Redeem

Bonds value

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Source: — Problem Solving |
User avatar
GMAT Instructor
Posts: 905
Joined: Sun Sep 12, 2010 1:38 am
Thanked: 378 times
Followed by:123 members
GMAT Score:760

by Geva@EconomistGMAT » Sun Jul 17, 2011 11:32 pm
cricfan31 wrote:Hi,

Can you please suggest how to solve the attached problem.

Thanks,
Ashish
$400 is 6.5 percent of selling price.

400=6.5/100 * SP

6.5 goes ~15 times into 100:
10*6.5 is 65 (35 remaining)
5*6.5= 32.5, which is close enough to the 35 remaining.

so the equation can be ballparked as
400= 1/15 * SP
SP = 400*15 = 6000.

so we know the answer needs to be around 6000 (eliminate A, B, and C), but not actually equal to 6000 (eliminate D and choose E). If you want to be sure, check whether the answer needs to be greater than 6000 or smaller:

Since 6.5 actually goes slightly more than 15 times into 100, 6.5/100 is actually 1/15+, and the SP is actually 400 * 15+ - slightly greater than 400*15=6000. Choose E with a high degree of confidence and move on.
Geva
Senior Instructor
Master GMAT
1-888-780-GMAT
https://www.mastergmat.com
Top
Master | Next Rank: 500 Posts
Posts: 370
Joined: Sat Jun 11, 2011 8:50 pm
Location: Arlington, MA.
Thanked: 27 times
Followed by:2 members

by winniethepooh » Mon Jul 18, 2011 8:21 am
5000 * 8 /100 = 400
So, as per the given information = 400 = 6.5 % of Selling Price:400 * 100/6.5 or 400 * 1000 / 65
So, 6.24 * 1000( 65 goes 6.24 times for 400)= 6240.
Nearest answer = 6154.
Hence, E.[spoiler][/spoiler]
Top
Post new topic Post Reply
• Page 1 of 1