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

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Director
Director
User avatar
Joined: 01 Apr 2008
Posts: 898
Name: Ronak Amin
Schools: IIM Lucknow (IPMX) - Class of 2014
Followers: 26

Kudos [?]: 554 [0], given: 18

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

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New post 04 Jul 2009, 21:47
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

67% (02:10) correct 33% (02:19) wrong based on 3 sessions

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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.
Manager
Manager
avatar
Joined: 28 Jan 2004
Posts: 203
Location: India
Followers: 2

Kudos [?]: 25 [0], given: 4

Re: Businesses [#permalink]

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New post 04 Jul 2009, 23:15
D

n(AUB) = n(A) + n(B) - n(A&B)
Stmt 1:
n(AUB) = 21+15-12 = 24
=> 30-24 = 6 did neither report a net profit nor invest in foreign markets last year
Sufficient

Stmt 2:
30-24 = 6 did not report a net profit nor invest in foreign markets last year
Suffiicient
Director
Director
User avatar
Joined: 01 Apr 2008
Posts: 898
Name: Ronak Amin
Schools: IIM Lucknow (IPMX) - Class of 2014
Followers: 26

Kudos [?]: 554 [0], given: 18

Re: Businesses [#permalink]

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New post 05 Jul 2009, 07:55
I got D too. Answer is B :(
Current Student
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Joined: 13 Jan 2009
Posts: 372
Location: India
Followers: 20

Kudos [?]: 112 [0], given: 1

Re: Businesses [#permalink]

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New post 05 Jul 2009, 08:26
OA can be wrong :)

I am also getting D.
Senior Manager
Senior Manager
User avatar
Joined: 21 Jul 2009
Posts: 265
Location: New York, NY
Followers: 2

Kudos [?]: 92 [0], given: 23

Re: Businesses [#permalink]

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New post 13 Nov 2009, 11:42
I believe your OA is wrong. Answer should be D.
Manager
Manager
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Joined: 13 Aug 2009
Posts: 203
Schools: Sloan '14 (S)
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Kudos [?]: 98 [0], given: 16

Re: Businesses [#permalink]

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New post 13 Nov 2009, 22:59
Questions like this are best solved using a simple chart:

......................./.....net profit......./........no net profit../
for. market......../..........A............./...............B........../......15
no for. market..../..........C............./...............D........./.......15
......................./.........21............/...............9........../.......30

Note that we are being asked to find the value for D.

From here is it pretty easy to see if the statements are sufficient:

Statement 1:

Essentially we are given the value for A. Using A we can solve for C (21-A). Once we know the value for C is is very easy to find the value for D (15-C).

SUFFICIENT

Statement 2:

We are given the value of A+B+C. It is not necessary to know the individual values to solve for D:
30-(A+B+C) = D

SUFFICIENT

Each statment is sufficient on its own:

ANSWER: D.
Senior Manager
Senior Manager
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Joined: 16 Jul 2009
Posts: 261
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Kudos [?]: 262 [0], given: 3

Re: Businesses [#permalink]

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New post 15 Nov 2009, 03:33
Clearly the OA must be wrong..the answer has to be D..
Re: Businesses   [#permalink] 15 Nov 2009, 03:33
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Last year in a group of 30 businesses, 21 reported a net

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