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A shopping center increased its revenues by 10% between 2010 and 2011.

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Status: Preparing for the GMAT
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A shopping center increased its revenues by 10% between 2010 and 2011. [#permalink]

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New post 17 Sep 2017, 11:56
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B
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Difficulty:

  65% (hard)

Question Stats:

62% (01:37) correct 38% (01:36) wrong based on 21 sessions

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A shopping center increased its revenues by 10% between 2010 and 2011. The shopping center’s costs increased by 8% during the same period. What is the firm's percent increase in profits over this period, if profits are defined as revenues minus costs?

(1) The firm's initial profit is $200,000.
(2) The firm's initial revenues are 1.5 times its initial costs.
[Reveal] Spoiler: OA

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Re: A shopping center increased its revenues by 10% between 2010 and 2011. [#permalink]

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New post 17 Sep 2017, 12:05
1. The firms initial profit is not enought to determune what the percent increase in profits are.(Insufficient)

2.Just knowing how many more times the initial revenue are of the initial costs, we can find the respective increase in the next year. Now, using this information, we can compute a percentage change in profits(Sufficient)

Hence, Option B is our answer
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Kudos [?]: 673 [0], given: 17

Re: A shopping center increased its revenues by 10% between 2010 and 2011.   [#permalink] 17 Sep 2017, 12:05
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A shopping center increased its revenues by 10% between 2010 and 2011.

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