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.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 350,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

Last year in a group of 30 businesses, 21 reported a net [#permalink]
05 Mar 2012, 16:27

2

This post received KUDOS

8

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

35% (medium)

Question Stats:

70% (02:28) correct
30% (01:45) wrong based on 250 sessions

Last year in a group of 30 businesses, 21 reported a net profit and 15 had investments in foreign markets. How many of the businesses did not report a net profit nor invest in foreign markets last year?

(1) last year 12 of the 30 businesses reported a net profit and had investments in foreign markets.

(2) last year 24 of the 30 businesses reported a net profit or invested in foreign markets, or both.

Last year in a group of 30 businesses, 21 reported a net profit and 15 had investments in foreign markets. How many of the businesses did not report a net profit nor invest in foreign markets last year?

(1) last year 12 of the 30 businesses reported a net profit and had investments in foreign markets.

(2) last year 24 of the 30 businesses reported a net profit or invested in foreign markets, or both.

can anybody tell the matrix approach for stmnt(2)

(A) is straight forward.

As for (B), we are told the answer straight away. If we have a total of 24 who reported Profit or invested in Foreign markets or both, then we will have 6 who did none of that and that is "did not report a net profit nor invest in foreign markets last year".

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
05 Mar 2012, 21:56

8

This post received KUDOS

Expert's post

1

This post was BOOKMARKED

Last year in a group of 30 businesses, 21 reported a net profit and 15 had investments in foreign markets. How many of the businesses did not report a net profit nor invest in foreign markets last year?

(1) Last year 12 of the 30 businesses reported a net profit and had investments in foreign markets --> {Both} = 12 --> {Neither}={Both}-6=12-6=6. Sufficient.

(2) Last year 24 of the 30 businesses reported a net profit or invested in foreign markets, or both --> {Profit} + {Investment} - {Both} = 24 --> 21+15-{Both}=24 --> {Both}=12 --> {Neither}={Both}-6=12-6=6. Sufficient.

Answer: D.

TomB wrote:

can anybody tell the matrix approach for stmnt(2)

As you can see the problem can be easily solved without a matrix, but anyway here you go, matrix for statement (2):

(2) says that a+b+c=24, on the other hand a+b+c+d=30=Total --> 24+d=30 --> d=6. Sufficient.

Venn Diagram vs. Table Matrix [#permalink]
07 Nov 2012, 10:11

I am trying to figure when when I am supposed to use one over other. For example, I came across the following DS problem.

Last year in a group of 30 businesses, 21 reported a net profit and 15 had invested in the foreign markets. How many businesses did not report a net profit nor invest in the foreign markets last year?

1) Last year 12 of the 30 businesses reported a net profit and had investments in the foreign markets. 2) Last year 24 of the 30 businesses reported net profit or invested in foreign markets, or both.

Now, I am not asking anyone for a solution of this problem. I have it in front of me and it makes sense. The mistake I made is instead of using the Venn diagram (two circles that intersect a-x, x, y-x. that sort of thing), I used the matrix (net profit, no net profit, total, foreign investment, no foreign investment, total). Naturally, when I read the second statement I got confused because I did not know what to put into the table cell. I basically lost time doing the whole thing because I could not determine with matrix whether the statement 2 was sufficient or not.

Next time when I see a similar problem, I would like to know instantly which of the two approaches would bring me to the answer. What am I doing wrong?

Re: Venn Diagram vs. Table Matrix [#permalink]
07 Nov 2012, 14:03

Expert's post

Baracuda123 wrote:

I am trying to figure when when I am supposed to use one over other. For example, I came across the following DS problem.

Last year in a group of 30 businesses, 21 reported a net profit and 15 had invested in the foreign markets. How many businesses did not report a net profit nor invest in the foreign markets last year?

1) Last year 12 of the 30 businesses reported a net profit and had investments in the foreign markets. 2) Last year 24 of the 30 businesses reported net profit or invested in foreign markets, or both.

Now, I am not asking anyone for a solution of this problem. I have it in front of me and it makes sense. The mistake I made is instead of using the Venn diagram (two circles that intersect a-x, x, y-x. that sort of thing), I used the matrix (net profit, no net profit, total, foreign investment, no foreign investment, total). Naturally, when I read the second statement I got confused because I did not know what to put into the table cell. I basically lost time doing the whole thing because I could not determine with matrix whether the statement 2 was sufficient or not.

Next time when I see a similar problem, I would like to know instantly which of the two approaches would bring me to the answer. What am I doing wrong?

Merging similar topics. Please refer to the solutions above and ask if anything remains unclear.

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
15 Nov 2012, 14:39

Thanks Bunuel and sorry for that.

It looks like I made a mistake with my matrix setup. Can you tell me though, what is the difference between Venn diagram and Matrix. I noticed that MGMAT makes distinction between the two. I cannot tell whether I make mistakes in setting up the matrix (like I did now) or Venn diagram, or there are times I can use only one of them. How can I tell?

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
14 Feb 2014, 04:23

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
04 Mar 2014, 21:00

I do not understand how can we say "last year 24 of the 30 businesses reported a net profit or invested in foreign markets, or both" when the question says "Last year in a group of 30 businesses, 21 reported a net profit and 15 had investments in foreign markets."

Isn't B going against the question?

Statement in question : Last year in a group of 30 businesses, 21 reported a net profit Statement B : last year 24 of the 30 businesses reported a net profit

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
04 Mar 2014, 23:59

Expert's post

gauravkaushik8591 wrote:

I do not understand how can we say "last year 24 of the 30 businesses reported a net profit or invested in foreign markets, or both" when the question says "Last year in a group of 30 businesses, 21 reported a net profit and 15 had investments in foreign markets."

Isn't B going against the question?

Statement in question : Last year in a group of 30 businesses, 21 reported a net profit Statement B : last year 24 of the 30 businesses reported a net profit

Refer to the matrix:

a = investment and profit; b = investment and NO profit; c = profit and NO investment; d = NO investment and NO profit.

(2) Last year 24 of the 30 businesses reported a net profit or invested in foreign markets, or both --> a+b+c=24 (all groups but NO investment and NO profit.).

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
29 May 2015, 22:37

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________

Re: Last year in a group of 30 businesses, 21 reported a net [#permalink]
01 Jun 2015, 02:14

Expert's post

Presenting the Venn diagram approach of the solution

Interpreting the given info We are told about 30 businesses of which 21 reported a net profit and 15 had investments in foreign markets.Refer the venn diagram below:

As the total number of businesses is 30 we can write a + b + c + d = 30

Also, 21 firms reported a net profit, that would give us a + b =21. Also, it would give us c + d = 9

Similarly, 15 firms had investments in foreign markets, that would give us b + c = 15. Also it would give us a + d = 15. We need to find the number of businesses that did not report a net profit nor invest in foreign market i.e. d. Let's see if the statements provide us the information to find a definite value of d

Statement-I St-I tells us that 12 businesses reported net profit and had investments in foreign markets i.e. b = 12. This would give us the value of a = 9. We know that a + d = 15 i.e. d = 6. Hence st-I is sufficient to answer the question.

Statement-II St-II tells us that 24 businesses reported a net profit or invested in foreign markets or both i.e. a + b + c = 24

Since a + b + c + d = 30 we can find the value of d = 6

Hello everyone! Researching, networking, and understanding the “feel” for a school are all part of the essential journey to a top MBA. Wouldn’t it be great... ...

Are you interested in applying to business school? If you are seeking advice about the admissions process, such as how to select your targeted schools, then send your questions...