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Company P’s profit this year was what percent of its profit last year?

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Bunuel
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Company P’s profit this year was what percent of its profit last year? [#permalink] New post   14 Feb 2016, 03:04
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Company P’s profit this year was what percent of its profit last year?

(1) Company P’s total profit for this year and last year combined was $15,000.
(2) This year, Company P’s profit was $5,000.
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C
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Re: Company P’s profit this year was what percent of its profit last year? [#permalink] New post   15 Feb 2016, 03:47
Current year profit =P1 & last year profit=P2

P1/P2=??

1)Total profits. no info for each year......Ins

2) only current year ......Ins

combine 1 & 2

P2=15000-5000=10,000

P1/P2=5000/10000=50%

Answer: C
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Re: Company P’s profit this year was what percent of its profit last year? [#permalink] New post   09 Jun 2016, 14:30
We have to calculate company P's profit is what percent of its profit last year.

Statement 1 provides information about total profit from both year- last and present year. we can't deduce any info about profit of this year. So insufficient

Statement 2 provides information about company P's profit this year,but we don't know profit of last year. So insufficient

Combining both statements, we get the profit for present year is 5000 and profit for last year is 10000. So company P's profit is 50 percent of its profit last year so Sufficient
Correct Answer - C
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Re: Company P’s profit this year was what percent of its profit last year? [#permalink] New post   09 Jun 2016, 15:50
Bunuel wrote:
Company P’s profit this year was what percent of its profit last year?

(1) Company P’s total profit for this year and last year combined was $15,000.
(2) This year, Company P’s profit was $5,000.



From the Question,It is clear that we must have to know the direct proportion/amount of each year's profit of the company.

Statement(1) Just told the total profit without any particular amount of each year. Insufficient

Statement(2) Didn't told any thing about previous year's amount/proportion,Insufficient

(1)+(2) together gave previous years amount( $15000-$5000=10000),which was double than this year,Sufficient

Correct Answer C
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Re: Company P’s profit this year was what percent of its profit last year? [#permalink] New post   12 Nov 2016, 20:50
Nice Question.
Let this years profit => $y
Last year profit => $x

Let p be the required percentage
(p/100)*x=y
=> p=y/x*100
so we need both the last years as well as this years profit.
Statement 1 => x+y= 15000
NOTE=> If we are given x+y we can never get x/y unless some other constraint is provided.
Not sufficient.
Statement 2 =>
Clearly not sufficient as we don't know x
Combining them we can say that p => 5000/10000 *100 => 50 percent
Hence C
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Re: Company P’s profit this year was what percent of its profit last year? [#permalink]
12 Nov 2016, 20:50
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Bunuel
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