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

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

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05 Sep 2017, 11:07
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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.

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

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05 Sep 2017, 11:16
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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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