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

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Manager
Joined: 29 Jul 2012
Posts: 189
GMAT Date: 11-18-2012
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Kudos [?]: 47 [1] , given: 23

In 1994, Company X recorded profits that were 10% greater [#permalink]  19 Jan 2013, 02:29
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Difficulty:

55% (hard)

Question Stats:

59% (02:11) correct 41% (00:58) wrong based on 158 sessions
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 _________________ Thriving for CHANGE Last edited by Bunuel on 19 Jan 2013, 02:44, edited 1 time in total. Renamed the topic and edited the question. Verbal Forum Moderator Status: Preparing for the another shot...! Joined: 03 Feb 2011 Posts: 1422 Location: India Concentration: Finance, Marketing GPA: 3.75 Followers: 145 Kudos [?]: 787 [0], given: 62 Re: Percent D.S. [#permalink] 19 Jan 2013, 02:47 Expert's post 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. +1A _________________ Math Expert Joined: 02 Sep 2009 Posts: 27494 Followers: 4312 Kudos [?]: 42300 [2] , given: 6012 Re: In 1994, Company X recorded profits that were 10% greater [#permalink] 19 Jan 2013, 02:51 2 This post received KUDOS Expert's post 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.

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.
_________________
Manager
Joined: 21 Oct 2013
Posts: 194
Location: Germany
GMAT 1: 660 Q45 V36
GPA: 3.51
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Kudos [?]: 20 [0], given: 19

Re: In 1994, Company X recorded profits that were 10% greater [#permalink]  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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