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The price of coffee increased by 20% following the shortage in availab
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13 Oct 2023, 08:06
13 Oct 2023, 08:06
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Question Stats:
66% (01:20) correct
33% (01:19) wrong based on 12 sessions
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The price of coffee increased by 20% following the shortage in availability in the market. As a result, Toby decided to reduce his coffee consumption so that there is no increase in the expense on coffee.
A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given.
Quantity A |
Quantity B |
The percent reduction in coffee consumption |
20 percent |
A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given.
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Free Materials for the GRE General Exam - Where to get it!!
GRE Geometry Formulas
GRE - Math Book
Re: The price of coffee increased by 20% following the shortage in availab
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14 Oct 2023, 05:18
14 Oct 2023, 05:18
1
It is possible to solve this question by just using some basic notions of percentage change:
The price increased by 20%. This implies that to maintain expenses as a constant, you must reduce the coffee purchased by some x percent. Since you are basing the x percent decrease off the increased price, if you decrease by 20% you will have lower expenses.
QB must be larger, so B is the correct choice.
The price increased by 20%. This implies that to maintain expenses as a constant, you must reduce the coffee purchased by some x percent. Since you are basing the x percent decrease off the increased price, if you decrease by 20% you will have lower expenses.
QB must be larger, so B is the correct choice.
The price of coffee increased by 20% following the shortage in availab
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25 Jan 2024, 18:56
25 Jan 2024, 18:56
2
A cool way to think about this problem is with fractions.
A 20% increase in price would be 1.2 times the cost. So, letting c equal the cost of of coffee before the price increase, the current price of coffee would be 1.2c.
Using fractions, 1.2c becomes (6/5) c. In order to return the coffee to it's original price, Toby must reduce his coffee consumption by 1/6.
(6/5) c ----> (6/5) c (1 - 1/6) = (6/5) c (5/6) = c
QA = (1/6)(100) = 16.666%
QB = 20%
QB > QA
Answer Choice B
A 20% increase in price would be 1.2 times the cost. So, letting c equal the cost of of coffee before the price increase, the current price of coffee would be 1.2c.
Using fractions, 1.2c becomes (6/5) c. In order to return the coffee to it's original price, Toby must reduce his coffee consumption by 1/6.
(6/5) c ----> (6/5) c (1 - 1/6) = (6/5) c (5/6) = c
QA = (1/6)(100) = 16.666%
QB = 20%
QB > QA
Answer Choice B
