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In 1994, Company X recorded profits that were 10% greater

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In 1994, Company X recorded profits that were 10% greater [#permalink] New post 19 Jan 2013, 02:29
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In 1994, Company X recorded profits that were 10% greater than in 1993, and in 1993 the company’s profits were 20% greater than they were in 1992. What were the company’s profits in 1992?

(1) In 1994, the company’s profits were $100,000 greater than in 1993.
(2) For every $3.00 in profits earned in 1992, Company X earned $3.96 in 1994.
[Reveal] Spoiler: OA

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Last edited by Bunuel on 19 Jan 2013, 02:44, edited 1 time in total.
Renamed the topic and edited the question.
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Re: Percent D.S. [#permalink] New post 19 Jan 2013, 02:47
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The relation can be written as p(1.2)(1.1) for profits in 1994 and p for 1992.
P=?
Statement 1-
Hence p{(1.2)(1.1)-1.2}=given.
P can be easily calculated.

statement 2 is clearly insufficient.

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Re: In 1994, Company X recorded profits that were 10% greater [#permalink] New post 19 Jan 2013, 02:51
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In 1994, Company X recorded profits that were 10% greater than in 1993, and in 1993 the company’s profits were 20% greater than they were in 1992. What were the company’s profits in 1992?

Profit in 1992 = x;
Profit in 1993 = 1.2x;
Profit in 1994 = 1.1*1.2x = 1.32x;

(1) In 1994, the company’s profits were $100,000 greater than in 1993 --> 1.1*1.2x=1.2x+100,000 --> we can find x. Sufficient.

(2) For every $3.00 in profits earned in 1992, Company X earned $3.96 in 1994 --> for every $1 in 1992 the company earned $1.32 in 1994. We already knew that. Not sufficient.

Answer: A.

P.S. Please read carefully and follow: rules-for-posting-please-read-this-before-posting-133935.html Pay attention to the rule #3: the name of a topic (subject field) MUST be the first 40 characters (~the first two sentences) of the question.
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Re: In 1994, Company X recorded profits that were 10% greater [#permalink] New post 10 Apr 2014, 09:44
(1) %-change = change amount / orig. amount => 10 % = 100.000 $ / orig. (1993) --> can calculate back to 1992. Suff.
(2) for every 3 $ in1992, we get 3.94 $ in 1994. Only percent change. nothiung about total amount. IS.

Hence A
Re: In 1994, Company X recorded profits that were 10% greater   [#permalink] 10 Apr 2014, 09:44
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