GMAT Quantitative Reasoning Practice Test 1

Question : 84 of 100

Marks: +1, -0

A storeowner estimates that the average price of type A products will increase by

25 \%

next year and that the price of type B products will increase by

10 \%

next year. This year, the total amount paid for type A products was

\$ 4500

and the total price paid for type B products was

\$ 8300

.According to the store owner's estimate, and assuming the number of products purchased next year remains the same as that of this year, how much will be spent for both products next year?

$\$ 14,755$
$\$ 15,325$
$\$ 16,000$
$\$ 16,225$
$\$ 17,155$

Validate

Solution:

The total estimated amount that will be spent on type A product next year:

\$ 4500 × \;{125}/{100}=\$ 5625

The total estimated amount that will be spent on type B product next year:

\$ 8300 × \;{110}/{100}=\$ 9130

Giving a total spending of

\$ 14,755

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