The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $150, by what percent is th

[BTGModeratorVI]

The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $150, by what percent is the price to be reduced?

(A) 10%
(B) 15%
(C) 20%
(D) 25%
(E) 30%

Answer: E
Source: official guide

[Scott@TargetTestPrep]

The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $150, by what percent is the price to be reduced?

(A) 10%
(B) 15%
(C) 20%
(D) 25%
(E) 30%

Answer: E
Source: official guide

Solution:

We are given that the price of a coat is $500, and that the price is reduced by $150. Thus, the price is reduced by:

150/500 x 100 = 3/10 x 100 = 30 percent

Answer: E