fozzzy wrote:
VeritasPrepKarishma wrote:
fozzzy wrote:
General observation from GMAT prep software some of these questions can be really time consuming. Its solvable but time consuming, so what should one do?
I don't recall any official problem which is actually time consuming. Tricky - yes, cumbersome - no. Post the problems; perhaps you haven't come across the easier, more intuitive solutions. I will be surprised if you need to multiply anything more than a 2 digit number by a 2 digit number.
If a town of 25,000 people is growing at a rate of approx. 1% per year, the population of the town in 5 years will be closest to?This question is from GMAT prep
1% growth makes this really easy. To get 1% of a value, you just move the decimal place over two places, so you can do this with simple arithmetic.
Exact solution:
Year 0 = 25,000
Year 1 = 25,000 + 250 = 25,250
Year 2 = 25,250 +252.5 = 25,502.5
Year 3 = 25,502.5 + 255.025 = 25,757.525
Year 4 = 25,757.525 + 257.57525 = 26,015.10025
Year 5 = 26, 015.10025 + 260.1510025 = 26,275.25
Rounding to Ones Digit:
Year 0 = 25,000
Year 1 = 25,000 + 250 = 25,250
Year 2 = 25,250 + 253 = 25,503
Year 3 = 25,503 + 255 = 25,758
Year 4 = 25,758 + 258 = 26,016
Year 5 = 26,016 + 260 = 26,276
Rounding to Tens Digit:
Year 0 = 25,000
Year 1 = 25,000 + 250 = 25,250
Year 2 = 25,250 + 250 = 25,500
Year 3 = 25,500 + 260 = 25,760
Year 4 = 25,760 + 260 = 26,020
Year 5 = 26,020 + 260 = 26,280
Alternatively, use 25,000 + 5*250 = 26,250 as a lower bound and 25,000 + 5*300 = 26,500 as an upper bound. Because the interest amount is so miniscule, you know that it's not going to hit 300, the minimum amount required to round up to 27,000, proving that it's 26,000.