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]

19 Jan 2013, 03:29

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Question Stats:

51% (02:36) correct

48% (01:01) wrong

based on 3 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

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Last edited by Bunuel on 19 Jan 2013, 03:44, edited 1 time in total.

Renamed the topic and edited the question.

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

19 Jan 2013, 03:51

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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.

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Re: Percent D.S. [#permalink]

19 Jan 2013, 03:47

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: Percent D.S. [#permalink] 19 Jan 2013, 03:47

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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

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

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