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 500,000 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]

Show Tags

05 Mar 2012, 16:27

4

This post received KUDOS

11

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

35% (medium)

Question Stats:

69% (02:23) correct
31% (01:32) wrong based on 377 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 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 --> {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.

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".

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?

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]

Show Tags

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]

Show Tags

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]

Show Tags

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

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]

Show Tags

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.
_________________

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

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

Show Tags

11 Jul 2015, 04:41

Easiest for statement 2 is imho to think that there are 24 businesses that comprise the three segments "Profit / Investment", "Profit / No Investment" and "No Profit / Investment".

We are looking for the number of "Profit / Investment", as this one is not given and because this one is a combination of both the other segments it is necessary to subtract the number of businesses that had either a profit and an investment.

-> 24 = 21 + 15 -x -> x = 12 (Profit AND Investment)

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

Show Tags

25 Aug 2016, 03:31

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.
_________________

Happy New Year everyone! Before I get started on this post, and well, restarted on this blog in general, I wanted to mention something. For the past several months...

It’s quickly approaching two years since I last wrote anything on this blog. A lot has happened since then. When I last posted, I had just gotten back from...

Happy 2017! Here is another update, 7 months later. With this pace I might add only one more post before the end of the GSB! However, I promised that...

The words of John O’Donohue ring in my head every time I reflect on the transformative, euphoric, life-changing, demanding, emotional, and great year that 2016 was! The fourth to...