Last year in a group of 30 businesses, 21 reported a net : GMAT Data Sufficiency (DS)
Check GMAT Club App Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack

It is currently 07 Dec 2016, 05:31
GMAT Club Tests

Close

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
Your Progress

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

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Last year in a group of 30 businesses, 21 reported a net

  post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Manager
Manager
avatar
Joined: 10 Feb 2011
Posts: 114
Followers: 1

Kudos [?]: 236 [0], given: 10

Last year in a group of 30 businesses, 21 reported a net [#permalink]

Show Tags

New post 14 Mar 2011, 23:34
4
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

78% (01:57) correct 22% (01:06) wrong based on 64 sessions

HideShow timer Statistics

Last year in a group of 30 businesses, 21 reported a net profit and 15 had investments in foreign markets. How many of the business reported a net profit but did not invest in foreign markets?

(1) Last year 10 of the business both reported a profit and had investments in foreign markets.
(2) Last year 4 of the business did not report a net profit nor invest in foreign markets

OPEN DISCUSSION OF THIS QUESTION IS HERE: last-year-in-a-group-of-30-businesses-21-reported-a-net-128640.html
[Reveal] Spoiler: OA
Math Forum Moderator
avatar
Joined: 20 Dec 2010
Posts: 2021
Followers: 162

Kudos [?]: 1669 [0], given: 376

Re: 294. Last year in a group of 30 businesses, 21 reported a ne [#permalink]

Show Tags

New post 14 Mar 2011, 23:56
n(P) = Number of businesses showed net profits = 21
n(F) = Number of businesses made foreign investments = 15
\(n(P\cap F)\) = Number of businesses made foreign investments and had net profits
\(n(Neither)\) = Number of businesses who neither made foreign investments nor had any net profits
\(n(Total) =\) Total number of businesses = 30

Formula;
\(n(Total) = n(P) + n(F) - n(P\cap F) + n(Neither)\)
\(30=21+15-n(P\cap F)+n(Neither)\) ----- 1

To find;
Number of businesses that reported ONLY net profit but had no foreign investment

If we find \(n(P\cap F)\), then we would know the above information.

1. \(n(P\cap F)\) = 10
Thus,
Number of businesses that reported ONLY net profit but had no foreign investment = n(P) - 10 = 21-10 = 11
Sufficient.

2. \(n(Neither)\) = 10
Substituting it in the equation 1, we will get;
\(n(P\cap F) = 10\)
Thus,
Number of businesses that reported ONLY net profit but had no foreign investment = n(P) - 10 = 21-10 = 11
Sufficient.

Ans: "D"
_________________

~fluke

GMAT Club Premium Membership - big benefits and savings

SVP
SVP
avatar
Joined: 16 Nov 2010
Posts: 1672
Location: United States (IN)
Concentration: Strategy, Technology
Followers: 33

Kudos [?]: 506 [0], given: 36

Premium Member Reviews Badge
Re: 294. Last year in a group of 30 businesses, 21 reported a ne [#permalink]

Show Tags

New post 15 Mar 2011, 03:05
Let P -> Business that reported a net profit

Let I -> Business that had investments in foreign markets

30 = P + I - Both + Neither

From (1) -> Business that reported a net profit but did not invest in foreign markets = 21 - 10 = 11 , so sufficient.


From (2) 30 = 21 + 15 - both + 4

=> both = 40 - 30 = 10

So again, business that reported a net profit but did not invest in foreign markets = 21 - 10 = 11, so (2) is suffficient.

Hence the answer is D.
_________________

Formula of Life -> Achievement/Potential = k * Happiness (where k is a constant)

GMAT Club Premium Membership - big benefits and savings

Director
Director
User avatar
Status: No dream is too large, no dreamer is too small
Joined: 14 Jul 2010
Posts: 650
Followers: 42

Kudos [?]: 833 [0], given: 39

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]

Show Tags

New post 17 Jan 2012, 09:34
Director
Director
avatar
Status: Gonna rock this time!!!
Joined: 22 Jul 2012
Posts: 547
Location: India
GMAT 1: 640 Q43 V34
GMAT 2: 630 Q47 V29
WE: Information Technology (Computer Software)
Followers: 3

Kudos [?]: 60 [0], given: 562

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]

Show Tags

New post 22 Dec 2012, 01:05
Bunuel,
Can this be solved using double set matrix?
_________________

hope is a good thing, maybe the best of things. And no good thing ever dies.

Who says you need a 700 ?Check this out : http://gmatclub.com/forum/who-says-you-need-a-149706.html#p1201595

My GMAT Journey : http://gmatclub.com/forum/end-of-my-gmat-journey-149328.html#p1197992

Expert Post
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 35909
Followers: 6850

Kudos [?]: 90011 [0], given: 10402

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]

Show Tags

New post 22 Dec 2012, 03:54
Re: Last year in a group of 30 businesses, 21 reported a net   [#permalink] 22 Dec 2012, 03:54
    Similar topics Author Replies Last post
Similar
Topics:
3 Experts publish their posts in the topic Two hedge funds reported their performance for the last fiscal year. gocoder 1 15 May 2016, 18:52
12 Experts publish their posts in the topic Last year in a group of 30 businesses, 21 reported a net pro Bunuel 6 09 Feb 2014, 23:33
32 Experts publish their posts in the topic Last year in a group of 30 businesses, 21 reported a net TomB 17 05 Mar 2012, 16:27
1 Experts publish their posts in the topic Last year in a group of 30 businesses, 21 reported a net vaivish1723 8 25 Jan 2010, 07:52
4 Experts publish their posts in the topic Last year in a group of 30 businesses, 21 reported a net TOUGH GUY 4 28 Jan 2007, 07:46
Display posts from previous: Sort by

Last year in a group of 30 businesses, 21 reported a net

  post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.