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18 Nov 2018, 23:19
Kudos
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
82% (01:39) correct
18%
(02:13)
wrong
based on 115
sessions
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Not Attempted Yet
At the end of 2007, a plot of land was worth 80% more than it had been worth at the beginning of 2006. If the land appreciated in value by 60% for the year 2006, by what percent did it increase for the year 2007?
A. 12.5%
B. 20%
C. 25%
D. 27.5%
E. 33.33%
A. 12.5%
B. 20%
C. 25%
D. 27.5%
E. 33.33%
19 Nov 2018, 08:20
Kudos
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IMO Option A is the Correct choice
Let us assume...
Value of Land at the beginning of 2006 = X
Therefore Value of land at the end of 2007 = 1.8X (80% in increase in value)
Land value appreciated in 2006 = 1.6X (60% of x Appreciated)
Question ask us what percent did it increase for the year 2007?
= (\(\frac{(value at the end of 2007 - value at the beginning of 2007)}{value at the beginning of 2007}\)) *100
= (\(\frac{(1.8x-1.6x)}{1.6x}\))*100
= 12.5
Let us assume...
Value of Land at the beginning of 2006 = X
Therefore Value of land at the end of 2007 = 1.8X (80% in increase in value)
Land value appreciated in 2006 = 1.6X (60% of x Appreciated)
Question ask us what percent did it increase for the year 2007?
= (\(\frac{(value at the end of 2007 - value at the beginning of 2007)}{value at the beginning of 2007}\)) *100
= (\(\frac{(1.8x-1.6x)}{1.6x}\))*100
= 12.5
gmatdordie
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19 Nov 2018, 13:54
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Bunuel
At the end of 2007, a plot of land was worth 80% more than it had been worth at the beginning of 2006. If the land appreciated in value by 60% for the year 2006, by what percent did it increase for the year 2007?
A. 12.5%
B. 20%
C. 25%
D. 27.5%
E. 33.33%
A. 12.5%
B. 20%
C. 25%
D. 27.5%
E. 33.33%
In percent problems, to solve them under 2min u need to plugin values
so i assumed plot worth at beginning of 2006-1000
plot value at end of 2007-after 80% increase=1800
in 2006, land value appreciated by 60%, so plot value at end of 2006=1600
so increase from 2007 beginnig to end=1800-1600=200
so% increase in 2007 year =200/1600*100=12.5%
Hence OA:A
