Quant: Fundamentals Flashcards

1
Q

Before you multiply a fraction, you should check it can be [blank] first

A

Reduced

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2
Q

When you split up a denominator of a fraction?

A

never

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3
Q

You should [blank] fractions at every step during a problem to make it easier

A

Reduce

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4
Q

what is the mathematical translation of “percent” when setting up a percentage problem

A

/100

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5
Q

what is the mathematical translation of “of” when setting up a percentage problem

A

multiply (x)

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6
Q

what is the mathematical translation of “what” when setting up a percentage problem

A

x,y,or z (any variable

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7
Q

what is the mathematical translation of “is, are,were “ when setting up a percentage problem

A

= (equal sign)

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8
Q

Quick way to find 1% of any number

A

move decimal two places to the left

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9
Q

quick way to find 10% of a number

A

move decimal one place to the left

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10
Q

quick way to find 5% of a number

A

use the quick method to calculate 10 percent and then cut it by half

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11
Q

When you see percentage problems, what should you do at the beginning before you start solving?

A

Check the available responses to see how detailed you’ll need to be. If they aren’t close, then you can be more rough with your calculation to save time

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12
Q

Formula for percent change

A

(new-old)/old x 100

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13
Q

1/2 as a decimal

A

0.5

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14
Q

1/2 as a percent

A

50%

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15
Q

1/3 as a decimal

A

.33 (repeating)

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16
Q

1/3 as a percent

A

33.3% (repeating)

17
Q

2/3 as a decimal

A

.66 (repeating)

18
Q

2/3 as a percentage

A

66.6% (repeating)

19
Q

1/4 as a decimal

A

.25

20
Q

1/4 as a percentage

A

25%

21
Q

3/4 as a decimal

A

.75

22
Q

3/4 as a percentage

A

75%

23
Q

1/5 as a decimal

A

.2

24
Q

1/5 as a percentage

A

20%

25
Q

2/5 as a decimal

A

.4

26
Q

2/5 as a percentage

A

40%

27
Q

3/5 as a decimal

A

.6

28
Q

3/5 as a percentage

A

60%

29
Q

4/5 as a decimal

A

.8

30
Q

4/5 as a percentage

A

80%

31
Q

1/6 as a decimal

A

.166 (6’s repeating)

32
Q

1/6 as a percentage

A

16.6% (6’s repeating)

33
Q

1/8 as a decimal

A

.125

34
Q

1/8 as a percentage

A

12.5%

35
Q

Do you need to calculate compound interest on the GMAT?

A

No, you just need to know the formula

36
Q

How to handle rare compound interest questions on the GMAT (easy way)

A

calculate simple interest and assume it’s a little bit more

37
Q

Compound interest formula

A

principal + interest = principal x (1+r)^t

38
Q

Gross Profit formula (2 variations)

A

Gross profit = revenues - expenses

Gross Profit = selling price - cost