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05 Nov 2019, 01:35
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D
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Difficulty:
55%
(hard)
Question Stats:
63% (01:42) correct
37%
(01:47)
wrong
based on 643
sessions
History
Date
Time
Result
Not Attempted Yet
Abigail used to save 40% of her salary in 2013. Her salary increased by 100% in 2014 and by 50% in 2015, but her expenses remained the same throughout. What was the percentage increase in her annual savings over the two years?
A. 200%
B. 240%
C. 300%
D. 500%
E. 600%
Are You Up For the Challenge: 700 Level Questions
A. 200%
B. 240%
C. 300%
D. 500%
E. 600%
Are You Up For the Challenge: 700 Level Questions
saukrit
Joined: 05 Jul 2018
Last visit: 11 Nov 2025
Posts: 378
Given Kudos: 325
Status:Current student at IIMB
Affiliations: IIM Bangalore
Location: India
Concentration: General Management, Technology
Schools: IIMB EPGP'22 (A)
GMAT 1: 600 Q47 V26
GRE 1: Q162 V149
GPA: 3.6
WE:Information Technology (Consulting)
Products:
05 Nov 2019, 04:15
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IMO D 500%
Year | Salary | Saving
2013 | 100 | 40
2014 | 200 | 140
2015 | 300 |240
Savings went from 40 to 240 in 2 years.
Increase/Change in saving over 2 years= 200
Base =40
Percent increase = \(\frac{Change}{Base}*100\)= \(\frac{40}{200}*100\) =500%
Hence D
Year | Salary | Saving
2013 | 100 | 40
2014 | 200 | 140
2015 | 300 |240
Savings went from 40 to 240 in 2 years.
Increase/Change in saving over 2 years= 200
Base =40
Percent increase = \(\frac{Change}{Base}*100\)= \(\frac{40}{200}*100\) =500%
Hence D
General Discussion
11 Nov 2019, 14:32
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Bunuel
We can let Abigail’s salary in 2013 be $100. Thus, she spent $60 and saved $40. In 2015, her salary was 100 x 2 x 1.5 = $300. Since she still spent $60, she saved $240. Therefore, the percent increase in her annual savings over the two years was:
(240 - 40)/40 x 100 = 5 x 100 = 500
Answer: D
