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# If the price increased by X% from 2001 to 2002 and by

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Manager
Joined: 03 Sep 2009
Posts: 80
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Kudos [?]: 2 [0], given: 3

If the price increased by X% from 2001 to 2002 and by [#permalink]  18 Jan 2010, 01:29
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100% (05:45) correct 0% (00:00) wrong based on 0 sessions
Hi,
Can anyone help me in solving and throwing some light on the reasoning behind the following question:

Q: If the price increased by X% from 2001 to 2002 and by Y% from 2002 to 2003, what is the percentage increase from 2001 to 2003?
1. XY=30
2. 100X+100Y+XY=800

-Amit
Joined: 20 Aug 2009
Posts: 314
Location: Tbilisi, Georgia
Schools: Stanford (in), Tuck (WL), Wharton (ding), Cornell (in)
Followers: 7

Kudos [?]: 68 [1] , given: 69

Re: Percentage problem [#permalink]  18 Jan 2010, 05:54
1
KUDOS
Price in 2002=(1+x)*Price-in-2001

Price in 2003=(1+y)*Price-in-2002=(1+x)(1+y)*Price-in-2001=(1+x+y+xy)*Price-in-2001

So basically, we need to determine (1+x+y+xy), where x=X/100, y=Y/100. 1+X/100+Y/100+XY/10,000

St1: XY=30 - > Clearly Insufficient

St2: 100X+100Y+XY=800; => X+Y+XY/100 = 8 => X/100+Y/100+XY/10,000 = 0.08 That's what we wanted. Sufficient

(B)
Manager
Joined: 03 Sep 2009
Posts: 80
Followers: 1

Kudos [?]: 2 [0], given: 3

Re: Percentage problem [#permalink]  18 Jan 2010, 09:16
Many thanks for the explanation!!
Re: Percentage problem   [#permalink] 18 Jan 2010, 09:16
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