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Between the first day of May and last day in June, the price

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GMAT Club Legend
GMAT Club Legend
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Joined: 07 Jun 2014
Posts: 4756
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 93

Kudos [?]: 1668 [0], given: 396

CAT Tests
Between the first day of May and last day in June, the price [#permalink] New post 17 Apr 2017, 09:41
Expert's post
00:00

Question Stats:

42% (01:22) correct 57% (01:20) wrong based on 7 sessions
Between the first day of May and last day in June, the price per kilogram of Melange, a seasoning mix, first declined by 20 percent and then increased by 50 percent. During this same period, the price per liter of Blue, a spring water, first increased by 20 percent and then declined by 50 percent. If at the end of June, the prices were the same, then, at the beginning of May, the price per kilogram for Blue was what percent of the price per liter of Melange?

A. 2
B. 30
C. 50
D. 100
E. 200


Drill 3
Question: 11
Page: 320
[Reveal] Spoiler: OA

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Sandy
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GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4756
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 93

Kudos [?]: 1668 [0], given: 396

CAT Tests
Re: Between the first day of May and last day in June, the price [#permalink] New post 17 Apr 2017, 09:45
Expert's post
Explanation

Since the problem doesn’t give you prices, Plug In; since the question involves percents, use 100. If the starting price for Melange was $100, then, after the 20% decrease, the price was $80; increase that by 50%, or \(\frac{1}{2}\), and the ending price was $120. Since the ending prices for
Melange and Blue were the same, the ending price for Blue was also $120.

Now, work backwards. Declining by 50% is the same as being cut in half; if Blue was $120 after being cut in half, it must have been $240 before the decrease. Since that $240 was the result of a 20% increase, translate the question “240 is 120% of what” to get the equation \(240 = \frac{120}{100} \times x\); solve for x to get the starting price for Blue, $200. Finally, now that you have both starting prices, translate the question into \(20 = \frac{x}{100} \times 100\), and solve for x to get your answer, 200.

Hence option E is correct!
_________________

Sandy
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Re: Between the first day of May and last day in June, the price   [#permalink] 17 Apr 2017, 09:45
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Between the first day of May and last day in June, the price

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