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The total of company C's assets in 1994 was 300% greater tha [#permalink]

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23 Jan 2010, 17:22

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The total of company C's assets in 1994 was 300% greater than the total in 1993, which in turn was 400% greater than the total in 1992. If the total of company C's assets in in 1992 was N dollars, which one of the following represents company C's assets in 1994:

The total of company C's assets in 1994 was 300% greater than the total in 1993, which in turn was 400% greater than the total in 1992. If the total of company C's assets in in 1992 was N dollars, which one of the following represents company C's assets in 1994:

- 7N - 8N - 9N -12N - 20N

Answer: 20N please explain!

Profit in 1992 = N Profit in 1993 = 4*N (400% of N) + N = 5N --- 400% greater really means 1993 is 5 times that of 1992. Profit in 1994 = 3*1992 = 3*(5*N) = 15N + 5N = 20N -- 300% greater really means 1994 is 4 times that of 1993.
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________________________________________________________________________ Andrew http://www.RenoRaters.com

Let's use actual numbers. Starting in 1992, let's say company C had $100 in assets.

In 1993, the total assets were 400% GREATER, which means 1992 PLUS 400% of 1992: $100 + 4x$100 = $100 + $400 = $500

In 1994, the total assets were 300% GREATER than they were in 1993, which means 1993 PLUS 300% of 1993: $500 + 3x$500 = $500 + $1500 = $2000

This is 20 times the 1992 number, so the correct answer is 20N.

EDIT: looks like i was beaten to the punch!
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My blog: http://www.theapplicationist.blogspot.com/ My application status: http://gmatclub.com/forum/2012-profiles-w-admit-dings-results-no-discussion-116595.html#p983273

The total of company C's assets in 1994 was 300% greater than the total in 1993, which in turn was 400% greater than the total in 1992. If the total of company C's assets in in 1992 was N dollars, which one of the following represents company C's assets in 1994:

A. 7N B. 8N C. 9N D. 12N E. 20N

300% greater - means 4 times as many; 400% greater - means 5 times as many.

If in initial year was \(n\) dollars, so in two years it will be n*5*4=20n.

Re: The total of company C's assets in 1994 was 300% greater tha [#permalink]

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11 Dec 2013, 08:25

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Re: The total of company C's assets in 1994 was 300% greater tha [#permalink]

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26 Jul 2015, 06:35

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