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• ### $450 Tuition Credit & Official CAT Packs FREE December 15, 2018 December 15, 2018 10:00 PM PST 11:00 PM PST Get the complete Official GMAT Exam Pack collection worth$100 with the 3 Month Pack ($299) • ### FREE Quant Workshop by e-GMAT! December 16, 2018 December 16, 2018 07:00 AM PST 09:00 AM PST Get personalized insights on how to achieve your Target Quant Score. # If the price of gasoline increases by 25% and Ron intends to spend onl  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: ### Hide Tags Math Expert Joined: 02 Sep 2009 Posts: 51218 If the price of gasoline increases by 25% and Ron intends to spend onl [#permalink] ### Show Tags 15 Mar 2016, 11:40 00:00 Difficulty: 55% (hard) Question Stats: 66% (01:50) correct 34% (01:12) wrong based on 83 sessions ### HideShow timer Statistics If the price of gasoline increases by 25% and Ron intends to spend only 15% more on gasoline, by how much percent should he reduce the quantity of gasoline that he buys? A. 6.66% B. 8% C. 10% D. 12% E. 12.5% _________________ Verbal Forum Moderator Status: Greatness begins beyond your comfort zone Joined: 08 Dec 2013 Posts: 2127 Location: India Concentration: General Management, Strategy Schools: Kelley '20, ISB '19 GPA: 3.2 WE: Information Technology (Consulting) If the price of gasoline increases by 25% and Ron intends to spend onl [#permalink] ### Show Tags 15 Mar 2016, 18:46 1 Let price of original price of gasoline = 10$
and let original consumption of gasoline = 10
Amount spend on gasoline originally = 10*10 = 100$the price of gasoline increases by 25% and Ron intends to spend only 15% more on gasoline Increased price of gasoline = 12.5$
Now Ron intends to spend on gasoline =1.15*100 = 115$Consumption of gasoline needs to be = 115/12.5 = 1150/125 = 46/5 = 9.2 Reduction in consumption of gasoline = 10-9.2 = .8 % reduction in consumption of gasoline = .8/10 * 100% = 8% Answer B _________________ When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. - Henry Ford The Moment You Think About Giving Up, Think Of The Reason Why You Held On So Long +1 Kudos if you find this post helpful VP Joined: 05 Mar 2015 Posts: 1004 Re: If the price of gasoline increases by 25% and Ron intends to spend onl [#permalink] ### Show Tags 14 May 2016, 10:15 1 Bunuel wrote: If the price of gasoline increases by 25% and Ron intends to spend only 15% more on gasoline, by how much percent should he reduce the quantity of gasoline that he buys? A. 6.66% B. 8% C. 10% D. 12% E. 12.5% Let he consumes 10 ltr RS 10 so he spends Rs 100 As er question he intends to spend 15% more (of 100 in our case)=Rs 115 and price increased by 25% =Rs. 12.5 (10+25% of 10) let he reduces quantity by X lts. then consumed(new reduced) quantity= 10(1-X/100) Spending amount=Price of gasoline*Quantity 115=12.5*10(1-X/100) X=8% Ans B Manager Joined: 30 May 2012 Posts: 208 Location: United States (TX) Concentration: Finance, Marketing GPA: 3.3 WE: Information Technology (Consulting) If the price of gasoline increases by 25% and Ron intends to spend onl [#permalink] ### Show Tags 08 Sep 2017, 15:02 1 rohit8865 wrote: Bunuel wrote: If the price of gasoline increases by 25% and Ron intends to spend only 15% more on gasoline, by how much percent should he reduce the quantity of gasoline that he buys? A. 6.66% B. 8% C. 10% D. 12% E. 12.5% Let he consumes 10 ltr RS 10 so he spends Rs 100 As er question he intends to spend 15% more (of 100 in our case)=Rs 115 and price increased by 25% =Rs. 12.5 (10+25% of 10) let he reduces quantity by X lts. then consumed(new reduced) quantity= 10(1-X/100) Spending amount=Price of gasoline*Quantity 115=12.5*10(1-X/100) X=8% Ans B For wondering minds, "Rs" in the solution above is short for "Rupee" - a monetary unit in India. This is how I solved... Let the initial cost of gas before the hike be$100/gal
Price hike given = 25%
=> New gas price per gallon is $125 Also given, Ron can only spend 15% more of what he used to afford. It is to be understood from the prompt that he was able to afford a full gallon (which means he used to get 1 gal of gas) before the hike. So, he was able to afford$100 before the hike but now he can only afford 15% more of $100. Therefore, he could only pay$115.

You get what you pay, so instead of getting a full gallon of gas, he will now only get 0.92 gal [For $125 you get 1 gal, for$115 - how many? => $$\frac{1}{125}$$*115].

Finally, find the percentage decrease in the amount of gas from before and now.

Percentage Decrease =$$\frac{0.92 - 1}{1}$$*100
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Re: If the price of gasoline increases by 25% and Ron intends to spend onl  [#permalink]

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08 Sep 2017, 23:59
2
1
Bunuel wrote:
If the price of gasoline increases by 25% and Ron intends to spend only 15% more on gasoline, by how much percent should he reduce the quantity of gasoline that he buys?

A. 6.66%
B. 8%
C. 10%
D. 12%
E. 12.5%

Let price of gasoline earlier = 100

So price of gasoline Later = 125 (25% higher)

Let consumption earlier = 100
So total expense earlier = 100*100 = 10000

New total expense = 11500 (15% higher)
New consumption of gasoline = 11500/125 = 92

Now, the consumption has changed from 100 to 92

hence, 8% decrease

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Re: If the price of gasoline increases by 25% and Ron intends to spend onl  [#permalink]

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09 Sep 2017, 02:48
Let the consumption be C , price of petrol be X and quantity consumed Y
Than we have C=X*Y
After price increase we have 1.15C=1.25X*a*Y
Where a is the percent of quantity decreased
Solving the above two equations we have a=92% of 8 % decrease.
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Re: If the price of gasoline increases by 25% and Ron intends to spend onl  [#permalink]

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29 Nov 2018, 10:30
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Re: If the price of gasoline increases by 25% and Ron intends to spend onl &nbs [#permalink] 29 Nov 2018, 10:30
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