The price of honey in a certain store is $5.00. If the price of the honey is to be reduced by $1.50, by what percent is the price to be reduced?	Select the correct option
A) 10%	B) 15%	C) 20%	D) 25%	E) 30%
A certain percentage of questions in the Quant section of the GMAT are just 'math questions' - you'll use a formula, do some calculations and you'll have the answer. This is one of those types of questions. You still have to write everything down and stay organized, but the work involved is relatively straight-forward.   Here, we're told that the price of honey is $5.00 and that the price of the honey is to be reduced by $1.50. We're asked by what P30%RC30%NT is the price to be R30%DUC30%D?   Original Price = $5.00   Reduction = $1.50   The percent reduction is relative to the original price of the honey:   $1.50/$5.00 = 3/10 = 30%   30%
<result>E</result>
The price of honey in a certain store is $5.00. If the price of the honey is to be reduced by $1.50, by what percent is the price to be reduced?