Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 28 Aug 2015, 00:26

### GMAT Club Daily Prep

#### 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

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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# If the price increased by x% from 2001 to 2002 and by y% fro

Author Message
TAGS:
Manager
Joined: 03 Sep 2009
Posts: 80
Followers: 1

Kudos [?]: 42 [0], given: 3

If the price increased by x% from 2001 to 2002 and by y% fro [#permalink]  18 Jan 2010, 00:29
1
This post was
BOOKMARKED
00:00

Difficulty:

55% (hard)

Question Stats:

67% (02:12) correct 33% (01:48) wrong based on 47 sessions
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
[Reveal] Spoiler: OA
Joined: 20 Aug 2009
Posts: 312
Location: Tbilisi, Georgia
Schools: Stanford (in), Tuck (WL), Wharton (ding), Cornell (in)
Followers: 14

Kudos [?]: 107 [1] , given: 69

Re: Percentage problem [#permalink]  18 Jan 2010, 04:54
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 [?]: 42 [0], given: 3

Re: Percentage problem [#permalink]  18 Jan 2010, 08:16
Many thanks for the explanation!!
Math Expert
Joined: 02 Sep 2009
Posts: 29090
Followers: 4720

Kudos [?]: 49596 [0], given: 7395

Re: If the price increased by x% from 2001 to 2002 and by y% fro [#permalink]  20 Sep 2013, 10:58
Expert's post
amitanand wrote:
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

m12 q35

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?

The price in 2001 - $$p$$;
The price in 2002 - $$p*(1+\frac{x}{100})$$;
The price in 2003 - $$p*(1+\frac{x}{100})(1+\frac{y}{100})=p(1+\frac{y}{100}+\frac{x}{100}+\frac{xy}{10,000})$$;

The percentage increase from 2001 to 2003 is $$\frac{2003-2001}{2001}*100=x+y+\frac{xy}{100}$$.

(1) xy = 30. Not sufficient.

(2) 100x + 100y + xy = 800 --> divide both sides by 100: $$x+y+\frac{xy}{100}=8$$, directly gives the answer. Sufficient.

_________________
Intern
Joined: 10 Aug 2013
Posts: 20
Followers: 0

Kudos [?]: 7 [0], given: 17

Re: If the price increased by x% from 2001 to 2002 and by y% fro [#permalink]  22 Sep 2013, 02:17
amitanand wrote:
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

Let price, P be 100.

after x% increase, price P1 = 100+x

After y% further increase, price P2 = 100+x + (100+x)*(y/100)

% increase = Increase in price / original price = (p2-p)*100/p = (100 X +100Y+xy)/100.

B gives numerator value. so sufficient but A is not.
_________________

The First and Last time !!!

BKPL - Below Kudos Poverty Line .....Need your help.

Re: If the price increased by x% from 2001 to 2002 and by y% fro   [#permalink] 22 Sep 2013, 02:17
Similar topics Replies Last post
Similar
Topics:
2 From January 1, 2002 to July 1, 2002, the median household 1 03 Jul 2014, 06:47
11 The price per share of Stock X increased by 10 percent over 3 18 Dec 2012, 05:47
If the price increased by X% from 2001 to 2002 and by Y% 6 21 Mar 2011, 20:16
2 Price increased by M% from 1991 to 1992 and by N% from 1992 2 03 Jan 2011, 18:16
4 2001, the closing price of stock A and stock B are the same. 4 20 Aug 2010, 10:51
Display posts from previous: Sort by