GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 14 Aug 2018, 14:59

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

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

Author Message
TAGS:

Hide Tags

Intern
Status: Dedicated to crack GMAT and to find an admission in top B schoolm
Joined: 13 Jan 2011
Posts: 22
Schools: IESE, LBS, ISB
A certain company’s profit in 1996 was 15 percent greater  [#permalink]

Show Tags

05 Dec 2011, 00:56
00:00

Difficulty:

5% (low)

Question Stats:

88% (00:32) correct 12% (01:24) wrong based on 89 sessions

HideShow timer Statistics

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: 14 Nov 2011
Posts: 3

Show Tags

05 Dec 2011, 01:18
Profit in 1995 - 100
Profit in 1996 - 115
%increae Profit in 1997 in comparison to 1995 = 15 + 115*20%= 38

Posted from my mobile device
Senior Manager
Joined: 13 May 2011
Posts: 256
WE 1: IT 1 Yr
WE 2: Supply Chain 5 Yrs

Show Tags

05 Dec 2011, 02:38
1995=100
1996=115
1997=138
increase = 138/100=38%=E
Doubt its 700-level question though.
Manager
Joined: 08 Sep 2011
Posts: 59
Concentration: Finance, Strategy

Show Tags

07 Dec 2011, 09:17
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: 12 Sep 2015
Posts: 2699
Re: A certain company’s profit in 1996 was 15 percent greater  [#permalink]

Show Tags

24 Dec 2017, 09:07
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

Cheers,
Brent
_________________

Brent Hanneson – Founder of gmatprepnow.com

SC Moderator
Joined: 22 May 2016
Posts: 1901
A certain company’s profit in 1996 was 15 percent greater  [#permalink]

Show Tags

24 Dec 2017, 18:24
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.)

$$15 + 20 + \frac{300}{100}$$

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

$$38$$%

_________________

In the depths of winter, I finally learned
that within me there lay an invincible summer.

A certain company’s profit in 1996 was 15 percent greater &nbs [#permalink] 24 Dec 2017, 18:24
Display posts from previous: Sort by

Events & Promotions

 Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.