A charitable organization held an annual fundraising event in each of

Question

https://gmatclub.com/forum/download/file.php?id=83003 A charitable organization held an annual fundraising event in each of 5 consecutive years (Years 1 through 5). For each of Years 2 through 5, the organization’s goal was to raise at least 10 percent more through the event than was raised in the previous year. The graph shows the total amount raised in each of the 5 years. Select from the drop-down menus the options that create the statements that most accurately reflect the information provided. The organization met its fundraising goal in Years GRAPH_1_PLACEHOLDER . In Year 5, the organization failed to meet its fundraising goal, raising only GRAPH_2_PLACEHOLDER percent more than in the previous year, to the nearest percent. GMAT-Club-Forum-er2mwi9o.png

MartyMurray · Accepted Answer

https://gmatclub.com/forum/download/file.php?id=83012 A charitable organization held an annual fundraising event in each of 5 consecutive years (Years 1 through 5). For each of Years 2 through 5, the organization’s goal was to raise at least 10 percent more through the event than was raised in the previous year. The graph shows the total amount raised in each of the 5 years. Select from the drop-down menus the options that create the statements that most accurately reflect the information provided. The organization met its fundraising goal in Years __________. To answer this question, we can first confirm how the organization defines "met its fundraising goal." Reviewing the passage, we see the following: For each of Years 2 through 5, the organization’s goal was to raise at least 10 percent more through the event than was raised in the previous year. So, we can determine whether the organization met its goal in years 2 through 5 by comparing the amount for each of those years with the amount for the previous year and then checking to see whether the difference is greater than 10 percent of the amount for the previous year. Before we do so, however, it may help to look at the answer choices to get a sense of what we are looking for. Doing so, we see the following choices: 1 and 2 1 and 3 2 and 3 2 and 4 3 and 4 We see that we need to look for just two years since each choice includes just two years. Also, notice that we can eliminate the first two choices without doing any work because the goal can be met only in years 2 through 5. So, 1 and 2 and 1 and 3 cannot be correct. Furthermore, year 5 is not included in the answer choices. So, we need to check only years 2, 3, and 4. So, checking the answer choices was definitely helpful. Now, we can use estimation to quickly determine in which of years 2, 3, and 4 the organization met its goal. Comparing year 2 with year 1, we see that the amount for year 2, 40,457.xx, is more than 4,000 more than the amount for year 1, 36,275.xx. Since 4,000 is 10 percent of 40,000, it must be more than 10 percent of 36,275. Thus, the amount for year 2 must be more than 10 percent greater than the amount for year 1. So, the organization achieved its goal in year 2. Checking year 3 against year 2 the same way, we see that the amount for year 3 is around 3,000 greater than the amount for year 2. Since the amount for year 2 is over 40,000, to be more than 10 percent greater than the amount for year 2, the amount for year 3 would have had to be more than 4,000 greater than the amount for year 2. So, the organization did not achieve its goal in year 3. We can stop right there and choose 2 and 4 , since 2, 3, and 4 are the only possible years, and we've eliminated 3. Let's confirm that 4 works though. Comparing the amounts for 4 and 3, we see that the amount for 4 is around 6,000 greater than the amount for 3. Thus, since the amount for 3 is less than 60,000, the amount for year 4 must be more than 10 percent more than the amount for 3. So, 4 is correct. For the first dropdown, select 2 and 4 . In Year 5, the organization failed to meet its fundraising goal, raising only __________ percent more than in the previous year, to the nearest percent. To answer this question, we can first check the answer choices to see how exact we need to be. Doing so, we see the following: 5 6 7 8 9 So, they aren't far apart, but at least they don't have decimals. So, we may be able to estimate for this one too. Let's see. Looking at the amounts for year 4 and year 5, which are 50,063.xx and 54,000.xx, we see that the amount for year 5 is a little under 4,000 greater than the amount for year 4. In fact, the difference is sufficiently close to 4,000 and the amount for year 4 is sufficiently close to 50,000 that we'll be able to estimate the answer. Now, we have to be careful not to choose 4 percent because the amount for year 4 is not 100,000. It's around 50,000. So, 4 percent will be too high. Since 50,000 is half of 100,000, 4,000 will be twice 4 percent of 50,000, or 8 percent. For the second dropdown, select 8 . Correct answer: 2 and 4 , 8 GMAT-Club-Forum-7cehbsmf.png

bb · Answer

This is a rather straightforward question:

Drop down 1.  
 
 Year 1 cannot be the answer in dropdown 1 as we can't have a judgement. 
 It is pretty easy to see that year 2 meeting the 10% requirement, Year 3 was not, Year 4 was and Year 5 was not.  
 Took about 30 seconds to identify and double-check that it was Years 2 and 4

Drop down 2 
 
 Need to find what % is 4 out of 50.  
 You can easily see that it is 8% based on the values in the drop down 
 Took 15 seconds maybe 🤷‍♂️

Dbrunik · Answer

Easy high quality question. Just remember to use the calculator to speed up the percent change question.

Posted from my mobile device

bb · Answer

I did not have the benefit of a calculator on my GMAT so that was not an option but I have trained myself to be faster than a calculator (even the physical one rather than a dinky on-screen one) so I would say you should usually be able to beat the calculation by doing it in your head (unless your mind is stuck for some reason due to time panic/etc - it happens and in that case, a calculator is very handy to break through that)

Dbrunik

Easy high quality question. Just remember to use the calculator to speed up the percent change question.

Posted from my mobile device

Dbrunik · Answer

how though? i wouldnt be able to distinguish if it was more complicated numbers, here, alone, i could barely distinguish if it was 7 or 8

bb · Answer

that’s a good question. I’m not sure I can easily explain because it was subconscious calculation 😬

But I saw that the difference was 4000 with some dollars. 4063 to be exact.

I knew right away that 4000 out of 50,000 would be 8% it would actually be slightly greater if you take 50,000 as the base and each additional percent would be 500. But I didn’t have to do those calculations or think about it, it just all happened automatically in my mind from years of calculating things in my head.

However, there is no difference however you arrive to a correct answer as long as it’s efficient and consistent. I think it’s totally fine to go out and get a solid answer. Once and move on if that works for you. The most important part is probably not how you do it but how you do it consistently and ensure that you stick with your patterns so you don’t Flip things around. Make it robotic and muscle memory and whether that means using a calculator or running through it in your mind, I can both ways work.

no idea if I explained anything 😂

Posted from my mobile device

trepsixore · Answer

I agree with your point, I made a mistake exactly because of this, took 7 instead of 8 in this question. I think it's not consistent that GMAT is pushing us to do mental math and approximation in some type of questions, and presice calculation in other types. And not everybody's mind is mathematical, + exam stress, etc. I hate the on screen calculator, and our exam centre would not give us calculator to use for all the time during DI section, I have no idea why! Couldn't find any restriction on that, will report them if they come up with the same thing next time.

Anonymous · Answer

bb   chetan2u   KarishmaB   Bunuel   GMATCoachBen  We cannot bring our own calculator on the test center? we are allowed to use only the on-screen calculator?

bb · Answer

You can only use the onscreen calculator for the data insights section, both at the test center and for the tests taken online.

Anonymous · Answer

Isn't that inconvenient or is it just me?

Thanks anyway!:)

chetan2u · Answer

Yes, I would agree with you. Using on line calculator is time consuming and inconvenient. Only way out is to get used to it in mocks. Also, there are very few questions where you would actually require it. I was forced to take four official mocks in last four days as the expiry was 13 this month, and I didn't use the calculator even once. So majority are doable on scratch pad.

KarishmaB · Answer

And to add one more thing - the onscreen calculator is very basic. It has only the most basic operators. But there will be very few questions in which having a calculator will be useful. In most cases, observation and estimation are sufficient. So much so that many learners forget that they have access to a calculator! In 1 or 2 questions though, it may be useful so try it out during mocks.

egmat · Answer

Let me walk through both dropdowns step by step.

The key rule:  For Years  2  through  5 , the goal was to raise at least  10%  MORE than the previous year. Year  1  has no goal (it's the starting point), so any answer choice containing ' 1 ' can be eliminated immediately.

The graph gives us these exact amounts:
- Year  1 :  $36,275.27 
- Year  2 :  $40,457.99 
- Year  3 :  $43,658.11 
- Year  4 :  $50,063.45 
- Year  5 :  $54,000.79

DROPDOWN 1: Which years met the 10% growth goal?

Year  2  goal:  $36,275.27  x  1.10  =  $39,902.80 . Actual raised:  $40,457.99 .  MET  (since  $40,458  >  $39,903 ).

Year  3  goal:  $40,457.99  x  1.10  =  $44,503.79 . Actual raised:  $43,658.11 .  NOT MET  (fell short by about  $846 ).

Year  4  goal:  $43,658.11  x  1.10  =  $48,023.92 . Actual raised:  $50,063.45 .  MET  (exceeded by over  $2,000 ).

Year  5  goal:  $50,063.45  x  1.10  =  $55,069.80 . Actual raised:  $54,000.79 .  NOT MET .

So the goal was met in   Years 2 and 4 only  .

DROPDOWN 2: What percent more did Year 5 raise over Year 4?

Increase =  $54,000.79  -  $50,063.45  =  $3,937.34 
 Percent increase  =  $3,937.34  /  $50,063.45  =  0.0786  ≈  8%

The critical thing here is using the PREVIOUS year as the base for each calculation.  A common mistake is comparing all years back to Year 1 instead of to the immediately preceding year.

Answer: 2 and 4, 8

A charitable organization held an annual fundraising event in each of

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