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A certain company’s profit in 1996 was 15 percent greater

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A certain company’s profit in 1996 was 15 percent greater  [#permalink]

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New post 04 Dec 2011, 23:56
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E

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Question Stats:

84% (01:13) correct 16% (02:12) wrong based on 92 sessions

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A certain company’s profit in 1996 was 15 percent greater than its profit in 1995, and its profit in 1997 was 20 percent greater than its profit in 1996. The company’s profit in 1997 was what percent greater than its profit in 1995?

A. 5%
B. 18%
C. 33%
D. 35%
E. 38%
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Re: Profits  [#permalink]

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New post 05 Dec 2011, 00:18
Answer is E
Profit in 1995 - 100
Profit in 1996 - 115
%increae Profit in 1997 in comparison to 1995 = 15 + 115*20%= 38

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Re: Profits  [#permalink]

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New post 05 Dec 2011, 01:38
1995=100
1996=115
1997=138
increase = 138/100=38%=E
Doubt its 700-level question though.
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Re: Profits  [#permalink]

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New post 07 Dec 2011, 08:17
E. I agree with BDSundevil, this does not seem to be a 700 level question, might not even be a - 700. Eitherway it is still a good question to for practice
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Re: A certain company’s profit in 1996 was 15 percent greater  [#permalink]

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New post 24 Dec 2017, 08:07
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gjayachandra wrote:
A certain company’s profit in 1996 was 15 percent greater than its profit in 1995, and its profit in 1997 was 20 percent greater than its profit in 1996. The company’s profit in 1997 was what percent greater than its profit in 1995?

A. 5%
B. 18%
C. 33%
D. 35%
E. 38%


Let $100 = the profits in 1995

The company’s profit in 1996 was 15 percent greater than its profit in 1995
If the 1995 profits were $100, then the 1996 profits are $115

The company’s profit in 1997 was 20 percent greater than its profit in 1996
If the 1996 profits were $115, then the 1997 profits = $115 + (20% of $115) = $115 + $23 = $138

The company’s profit in 1997 was what percent greater than its profit in 1995?
1995 profits = $100
1997 profits = $138

$138 is 38% greater than $100
Answer: E

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A certain company’s profit in 1996 was 15 percent greater  [#permalink]

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New post 24 Dec 2017, 17:24
gjayachandra wrote:
A certain company’s profit in 1996 was 15 percent greater than its profit in 1995, and its profit in 1997 was 20 percent greater than its profit in 1996. The company’s profit in 1997 was what percent greater than its profit in 1995?

A. 5%
B. 18%
C. 33%
D. 35%
E. 38%

You can use successive percent increase formula here where
\(A = 15\)
\(B = 20\)

(\(A + B + \frac{AB}{100}\))%
(The percent sign and parentheses are the strict version. On this forum it is rarely written with the percent sign or parentheses.)

\(15 + 20 + \frac{300}{100}\)

\((15 + 20 + 3) = 38\)

\(38\)%

Answer E
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A certain company’s profit in 1996 was 15 percent greater   [#permalink] 24 Dec 2017, 17:24
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