In March, the price of a collectible card was $15.50. In April, the price of the collectible card was $17.36....
GMAT Problem-Solving and Data Analysis : (PS_DA) Questions
In March, the price of a collectible card was \(\$15.50\). In April, the price of the collectible card was \(\$17.36\). The price of the collectible card in April was \(\mathrm{p\%}\) of the price of the collectible card in March. What is the value of \(\mathrm{p}\)?
\(12\)
\(88\)
\(112\)
\(188\)
1. TRANSLATE the problem information
- Given information:
- March price: \(\$15.50\)
- April price: \(\$17.36\)
- April price was p% of March price
- What this tells us: We need to find what percent the April price represents relative to the March price
2. TRANSLATE the percentage relationship into an equation
- "April price was p% of March price" means:
\(\$17.36 = (\mathrm{p}/100) \times \$15.50\)
- This is our key equation to solve
3. SIMPLIFY by solving the equation
- Start with: \(17.36 = (\mathrm{p}/100) \times 15.50\)
- Rewrite as: \(17.36 = 15.50\mathrm{p}/100\)
- Multiply both sides by 100: \(1736 = 15.50\mathrm{p}\)
- Divide both sides by 15.50: \(\mathrm{p} = 1736 \div 15.50\) (use calculator)
- Calculate: \(\mathrm{p} = 112\)
Answer: 112
Why Students Usually Falter on This Problem
Most Common Error Path:
Weak TRANSLATE skill: Students confuse "percent of" with "percent increase" and calculate how much the price increased instead of the percentage relationship.
They calculate: \((17.36 - 15.50)/15.50 \times 100 = 1.86/15.50 \times 100 = 12\%\)
This leads them to select Choice A (12).
Second Most Common Error:
Poor TRANSLATE reasoning: Students set up the equation backwards, thinking the March price is p% of the April price instead of the other way around.
They write: \(15.50 = (\mathrm{p}/100) \times 17.36\), leading to \(\mathrm{p} \approx 89.3\), causing confusion and potentially guessing among the remaining choices.
The Bottom Line:
The key challenge is correctly interpreting "April price was p% of March price" - this means April = p% × March, not that p represents the change between the prices. When April is greater than March, p will be greater than 100%.
\(12\)
\(88\)
\(112\)
\(188\)