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grandh01: Master | Next Rank: 500 Posts; Posts: 265; Joined: Tue Jul 03, 2012 11:04 pm; Followed by:6 members

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by grandh01 » Mon Jul 09, 2012 11:30 pm

John bought a car and paid 3/8 of the total price, he has to make additional 10 payments. After 9 payments what is the fraction left?

Sorry once again I don't have the answers.
Thanks in advance.

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Source: Beat The GMAT — Problem Solving | Mon Jul 09, 2012 11:30 pm

das.ashmita: Master | Next Rank: 500 Posts; Posts: 118; Joined: Mon May 21, 2012 10:07 pm; Thanked: 23 times; Followed by:4 members

by das.ashmita » Tue Jul 10, 2012 1:17 am

Say john bought a car for P amount and amount payable each month be x

then, 3/8P + 10x = P
=> x = P/16

hence, the ans should be P/16.

I hope its clear.

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Anurag@Gurome: 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 » Tue Jul 10, 2012 1:29 am

grandh01 wrote:John bought a car and paid 3/8 of the total price, he has to make additional 10 payments. After 9 payments what is the fraction left?

John will pay (1 - 3/8) = 5/8 of the total price in 10 additional payments.
Hence, each of the additional payments he will pay (5/8)/10 = 1/16 of the total price.

Therefore, after 9 payments the fraction left is 1/16.

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GMATGuruNY: 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 » Tue Jul 10, 2012 2:20 am

grandh01 wrote:John bought a car and paid 3/8 of the total price, he has to make additional 10 payments. After 9 payments what is the fraction left?

Sorry once again I don't have the answers.
Thanks in advance.

Let the total price = 80.
Initial amount paid = (3/8)80 = 30.
Remaining amunt = 80-30 = 50.
Each of the 10 additional payments = 50/10 = 5.
Amount left to be paid after 9 payments = 50 - (9*5) = 5.
(Amount left)/(total price) = 5/80 = 1/16.

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windchaser: Newbie | Next Rank: 10 Posts; Posts: 4; Joined: Sat Jun 16, 2012 10:28 pm

by windchaser » Tue Jul 10, 2012 4:38 pm

grandh01 wrote:John bought a car and paid 3/8 of the total price, he has to make additional 10 payments. After 9 payments what is the fraction left?

Sorry once again I don't have the answers.
Thanks in advance.

is it ok for us to assume that the 10 additional payments will have equal amounts? because otherwise you could argue that every payment could be different from each other and thus have no way of solving this question

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Anurag@Gurome: 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 » Tue Jul 10, 2012 8:21 pm

windchaser wrote:is it ok for us to assume that the 10 additional payments will have equal amounts? because otherwise you could argue that every payment could be different from each other and thus have no way of solving this question

Ideally we should not assume anything.
In fact if it was a statement for DS problem, I'd mark it as insufficient. But as the question is an independent question, it must be solvable with given information unless "Cannot be determined" is an option. That's why I assumed equal additional payments.