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Allen and Chris founded a company in 1990. In which year did the compa

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Allen and Chris founded a company in 1990. In which year did the compa [#permalink]

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Allen and Chris founded a company in 1990. In which year did the company's profits first exceed $100,000?

(1) In 1990, the company had profits of $15,000, and in every year after that profits were double those of the previous year.
(2) In 1992, the company had profits of $60,000.
[Reveal] Spoiler: OA

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Re: Allen and Chris founded a company in 1990. In which year did the compa [#permalink]

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Allen and Chris founded a company in 1990. In which year did the company's profits first exceed $100,000?

(1) In 1990, the company had profits of $15,000, and in every year after that profits were double those of the previous year.
If we had the profits for the profit in 1990 at $15000, in 1991, the profits were double that of 1990($30000)
Similarly in 1992, when the profits double again($60000), the total profit of the company exceeds 100000$(Sufficient)

(2) In 1992, the company had profits of $60,000.
There are 2 possibilities :
1. If in 1991, the company had profit(for the first ever time) of 30000$,
the overall profit of the company is 60000$ in 1992 and the profit first exceed $100000 in 1993.
2. If in 1991, the company had profit of 30000$(before which in 1990, the profit was 15000$),
the overall profit of the company first exceed $100000 in 1991 itself(when profit is 60000$)(Insufficient)(Option A)
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Re: Allen and Chris founded a company in 1990. In which year did the compa   [#permalink] 05 Sep 2017, 11:16
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