Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

At the end of each year, the value of a certain antique [#permalink]

Show Tags

12 Mar 2006, 10:14

4

This post received KUDOS

13

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

55% (hard)

Question Stats:

70% (03:35) correct
30% (02:28) wrong based on 452 sessions

HideShow timer Statictics

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995?

A. m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995?

A) m+1/2(m-k) B) m+1/2((m-k)/k)m C) (m*sqrt(m))/sqrt(k) D)m^2/2k; E) km^2

please show any work and explanations please. OA to follow.

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

12 May 2012, 02:25

7

This post received KUDOS

Expert's post

3

This post was BOOKMARKED

Thiagaraj wrote:

@Conocieur: Shouldn't the equation read

m = k*(1+c/100)^2 ? Since it says in the question, 'c percent more'..

Yes, it should.

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995? A. m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2

Price in 1992 - \(k\); Price in 1993 - \(k*(1+\frac{c}{100})\); Price in 1994 - \(k*(1+\frac{c}{100})^2=m\) --> \((1+\frac{c}{100})=\sqrt{\frac{m}{k}}\); Price in 1995 - \(m*(1+\frac{c}{100})=m*\sqrt{\frac{m}{k}\).

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

08 Jan 2013, 06:07

Bunuel wrote:

Thiagaraj wrote:

@Conocieur: Shouldn't the equation read

m = k*(1+c/100)^2 ? Since it says in the question, 'c percent more'..

Yes, it should.

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995? A. m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2

Price in 1992 - \(k\); Price in 1993 - \(k*(1+\frac{c}{100})\); Price in 1994 - \(k*(1+\frac{c}{100})^2=m\) --> \((1+\frac{c}{100})=\sqrt{\frac{m}{k}}\); Price in 1995 - \(m*(1+\frac{c}{100})=m*\sqrt{\frac{m}{k}\).

Answer: C.

Shouldn't this year be raised by the third power? since its the third year. _________________

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

08 Jan 2013, 10:59

2

This post received KUDOS

Expert's post

fozzzy wrote:

Bunuel wrote:

Thiagaraj wrote:

@Conocieur: Shouldn't the equation read

m = k*(1+c/100)^2 ? Since it says in the question, 'c percent more'..

Yes, it should.

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995? A. m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2

Price in 1992 - \(k\); Price in 1993 - \(k*(1+\frac{c}{100})\); Price in 1994 - \(k*(1+\frac{c}{100})^2=m\) --> \((1+\frac{c}{100})=\sqrt{\frac{m}{k}}\); Price in 1995 - \(m*(1+\frac{c}{100})=m*\sqrt{\frac{m}{k}\).

Answer: C.

Shouldn't this year be raised by the third power? since its the third year.

It is actually.

Price in 1994 is \(k*(1+\frac{c}{100})^2\) which is \(m\), so the price in 1995 is \(k*(1+\frac{c}{100})^2*(1+\frac{c}{100})\) or \(m*(1+\frac{c}{100})\).

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

10 Jan 2013, 00:55

4

This post received KUDOS

1

This post was BOOKMARKED

buckkitty wrote:

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995?

A. m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2

I went with smart numbers.

c= 10 % 1992 => k = 100 1994 => m = 121 obviously, 1995 => 133.1

I find using real numbers helps the most with these types of q's. Let's say the value in 1992 is $100 (this would be k). Let's use a 10% growth rate for c. This means the value in '93 is $110, and '94 is $121 (this would be m). In 1995 the value of the antique would be 133.1 based on the 10% growth rate. So we have k=100, m=121. By substituting m and k into the answer choices we must arrive at 133.1. By estimating it a little you can start eliminating answer choices fairly quickly. Only answer choice C gives you the desired result.

At the end of each year, the value of a certain antique watch is c percent more than its value one year earlier, where c has the same value each year. If the value of the watch was k dollars on January1, 1992, and m dollars on January 1, 1994, then in terms of m and k, what was the value of the watch, in dollars, on January 1, 1995 ?

A. m +1/2(m–k) B. m +1/2(m - k)m Cm square root m /square root k D.\(m^2\)/2k E. k\(m2\)

Value on Jan 1, 1992 = k Value on Jan 1, 1993 = k(1+c/100) Value on Jan 1, 1994 = \(k(1 + c/100)^2 = m\) So, \((1 + c/100) = \sqrt{\frac{m}{k}}\) Value on Jan 1 1995 = \(k(1+c/100)^3 = k(1 + c/100)^2 * (1 + c/100)\) = \(m*\sqrt{\frac{m}{k}}\)

Yes, I generally prefer plugging in numbers but the calculations here are a little painful (with squares and roots) so using algebra is not a bad idea. _________________

At the end of each year, the value of a certain antique watch is c percent more than its value one year earlier, where c has the same value each year. If the value of the watch was k dollars on January1, 1992, and m dollars on January 1, 1994, then in terms of m and k, what was the value of the watch, in dollars, on January 1, 1995 ?

A. m +1/2(m–k) B. m +1/2(m - k)m Cm square root m /square root k D.\(m^2\)/2k E. k\(m2\)

Value on Jan 1, 1992 = k Value on Jan 1, 1993 = k(1+c/100) Value on Jan 1, 1994 = \(k(1 + c/100)^2 = m\) So, \((1 + c/100) = \sqrt{\frac{m}{k}}\) Value on Jan 1 1995 = \(k(1+c/100)^3 = k(1 + c/100)^2 * (1 + c/100)\) = \(m*\sqrt{\frac{m}{k}}\)

Yes, I generally prefer plugging in numbers but the calculations here are a little painful (with squares and roots) so using algebra is not a bad idea.

frankly , it would take more than 10 mins if we plug in the numbers. GMAT Writers know tat folks would use pluggin in and hence they create crazy algebra.

Aside, this question appeared in question pack1 and this thread was created in 2006.. I wonder how this question had leaked back then. _________________

hope is a good thing, maybe the best of things. And no good thing ever dies.

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

23 Nov 2013, 18:47

I solved without algebra, at least after the first step I noticed there would be a quadractic in there, and the only answer that had a sqrt in it was C

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

05 Dec 2014, 06:50

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

01 Jul 2015, 21:43

Sample numbers is a great strategy here. Looking at the answer choices, we should choose numbers that are perfect squares. In this way, we won't have to waste time solving for c, since we know that it is the same each year. c=100 k=25 m = 25(2)^2=100 P_1995=200

Going through the answer choices, we see that only C produces 200.

Re: At the end of each year, the value of a certain antique [#permalink]

Show Tags

25 Aug 2015, 21:34

TooLong150 wrote:

Sample numbers is a great strategy here. Looking at the answer choices, we should choose numbers that are perfect squares. In this way, we won't have to waste time solving for c, since we know that it is the same each year. c=100 k=25 m = 25(2)^2=100 P_1995=200

Going through the answer choices, we see that only C produces 200.

both c and d give 200 when we consider k=25 and m =100..isnt it?

m = k*(1+c/100)^2 ? Since it says in the question, 'c percent more'..

Yes, it should.

At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995? A. m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2

Price in 1992 - \(k\); Price in 1993 - \(k*(1+\frac{c}{100})\); Price in 1994 - \(k*(1+\frac{c}{100})^2=m\) --> \((1+\frac{c}{100})=\sqrt{\frac{m}{k}}\); Price in 1995 - \(m*(1+\frac{c}{100})=m*\sqrt{\frac{m}{k}\).

Answer: C.

Price in 1995 - \(m*(1+\frac{c}{100})=m*\sqrt{\frac{m}{k}\).

How come in 1995 you don't do k * (1 + c/100) ^ 3 ?

Post your Blog on GMATClub We would like to invite all applicants who are applying to BSchools this year and are documenting their application experiences on their blogs to...

HBS alum talks about effective altruism and founding and ultimately closing MBAs Across America at TED: Casey Gerald speaks at TED2016 – Dream, February 15-19, 2016, Vancouver Convention Center...