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

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Intern
Status: Dedicated to crack GMAT and to find an admission in top B schoolm
Joined: 13 Jan 2011
Posts: 18
Schools: IESE, LBS, ISB
A certain company’s profit in 1996 was 15 percent greater  [#permalink]

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04 Dec 2011, 23:56
00:00

Difficulty:

5% (low)

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%
Intern
Joined: 13 Nov 2011
Posts: 1
Re: Profits  [#permalink]

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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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Manager
Joined: 13 May 2011
Posts: 222
WE 1: IT 1 Yr
WE 2: Supply Chain 5 Yrs
Re: Profits  [#permalink]

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05 Dec 2011, 01:38
1995=100
1996=115
1997=138
increase = 138/100=38%=E
Doubt its 700-level question though.
Manager
Joined: 08 Sep 2011
Posts: 58
Concentration: Finance, Strategy
Re: Profits  [#permalink]

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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
CEO
Joined: 11 Sep 2015
Posts: 3446
Location: Canada
Re: A certain company’s profit in 1996 was 15 percent greater  [#permalink]

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24 Dec 2017, 08:07
Top Contributor
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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Brent
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A certain company’s profit in 1996 was 15 percent greater  [#permalink]

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

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