November 22, 2018 November 22, 2018 10:00 PM PST 11:00 PM PST Mark your calendars  All GMAT Club Tests are free and open November 22nd to celebrate Thanksgiving Day! Access will be available from 0:01 AM to 11:59 PM, Pacific Time (USA) November 23, 2018 November 23, 2018 10:00 PM PST 11:00 PM PST Practice the one most important Quant section  Integer properties, and rapidly improve your skills.
Author 
Message 
TAGS:

Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 50715

Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
30 Jan 2014, 00:44
Question Stats:
71% (00:49) correct 29% (00:43) wrong based on 957 sessions
HideShow timer Statistics
The Official Guide For GMAT® Quantitative Review, 2ND EditionCompany K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year? (A) $13.5 million (B) $15 million (C) $18 million (D) $27 million (E) $30 million Problem Solving Question: 66 Category: Arithmetic Percents Page: 70 Difficulty: 600 GMAT Club is introducing a new project: The Official Guide For GMAT® Quantitative Review, 2ND Edition  Quantitative Questions ProjectEach week we'll be posting several questions from The Official Guide For GMAT® Quantitative Review, 2ND Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution. We'll be glad if you participate in development of this project: 1. Please provide your solutions to the questions; 2. Please vote for the best solutions by pressing Kudos button; 3. Please vote for the questions themselves by pressing Kudos button; 4. Please share your views on difficulty level of the questions, so that we have most precise evaluation. Thank you!
Official Answer and Stats are available only to registered users. Register/ Login.
_________________
New to the Math Forum? Please read this: Ultimate GMAT Quantitative Megathread  All You Need for Quant  PLEASE READ AND FOLLOW: 12 Rules for Posting!!! Resources: GMAT Math Book  Triangles  Polygons  Coordinate Geometry  Factorials  Circles  Number Theory  Remainders; 8. Overlapping Sets  PDF of Math Book; 10. Remainders  GMAT Prep Software Analysis  SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS)  Tricky questions from previous years.
Collection of Questions: PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.
What are GMAT Club Tests? Extrahard Quant Tests with Brilliant Analytics




Math Expert
Joined: 02 Sep 2009
Posts: 50715

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
30 Jan 2014, 00:44




Manager
Joined: 11 Jan 2014
Posts: 89
Concentration: Finance, Statistics
GMAT Date: 03042014
GPA: 3.77
WE: Analyst (Retail Banking)

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
30 Jan 2014, 00:52
150% is equivalent to 1.50.
So 12(1.50) = 18 increase over last year.
12 + 18 = 30.
Which is (E).
Posted from my mobile device



Manager
Joined: 20 Dec 2013
Posts: 234
Location: India

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
30 Jan 2014, 02:36
Ans.E 150% increase=1.5 times increase 12* 1.5=18 mill. increase Total=12+18=30 million.



Manager
Joined: 04 Oct 2013
Posts: 152
Location: India
GMAT Date: 05232015
GPA: 3.45

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
31 Jan 2014, 05:24
Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million (B) $15 million (C) $18 million (D) $27 million (E) $30 million
\(Projected Earning = This year Earning * (1 + \frac{150}{100})=$12 Million *(2.5) = $ 30 Million\)
Answer: (E)



Manager
Joined: 27 Jan 2015
Posts: 127
Concentration: General Management, Entrepreneurship

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
20 Apr 2015, 21:02
150% increase = 12million*2.5 = 30million
!



Director
Joined: 24 Nov 2015
Posts: 522
Location: United States (LA)

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
13 May 2016, 03:26
150% greater means original + 1.5 times the original = 2.5 * original Earnings last year = $12 million Earnings this year = 2.5 * 12 = $30 million correct answer  E



Manager
Joined: 23 Dec 2013
Posts: 159
Location: United States (CA)
GMAT 1: 710 Q45 V41 GMAT 2: 760 Q49 V44
GPA: 3.76

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
02 Jun 2017, 07:51
Bunuel wrote: The Official Guide For GMAT® Quantitative Review, 2ND EditionCompany K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year? (A) $13.5 million (B) $15 million (C) $18 million (D) $27 million (E) $30 million Problem Solving Question: 66 Category: Arithmetic Percents Page: 70 Difficulty: 600 GMAT Club is introducing a new project: The Official Guide For GMAT® Quantitative Review, 2ND Edition  Quantitative Questions ProjectEach week we'll be posting several questions from The Official Guide For GMAT® Quantitative Review, 2ND Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution. We'll be glad if you participate in development of this project: 1. Please provide your solutions to the questions; 2. Please vote for the best solutions by pressing Kudos button; 3. Please vote for the questions themselves by pressing Kudos button; 4. Please share your views on difficulty level of the questions, so that we have most precise evaluation. Thank you! It's import to remember that a percent increase is not the same as a percent of a quantity. Let x = 100 %  Percent of 100  Percent growth of 100 0  0  100 50  50  150 100  100  200 150  150  250 So percent growth is (100% + percent growth rate) * original quantity In this case, 12*2.5 = 30.



Target Test Prep Representative
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 4170
Location: United States (CA)

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
05 Jun 2017, 14:57
Bunuel wrote: Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million (B) $15 million (C) $18 million (D) $27 million (E) $30 million
Since this year's earnings are projected to be 150% greater than last year’s earnings of 12 million, this year's earnings are projected to be 2.5(12) = 30 million dollars. Answer: E
_________________
Scott WoodburyStewart
Founder and CEO
GMAT Quant SelfStudy Course
500+ lessons 3000+ practice problems 800+ HD solutions



Manager
Joined: 12 Jun 2016
Posts: 216
Location: India
Concentration: Technology, Leadership
WE: Sales (Telecommunications)

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
23 Jun 2017, 03:28
Here's Another way to do this 150% Increase from original means = Original + 150% of Original = Original + 100% Original + 50% Original = Original + Original + Original/2 In this case its 12 + 12 + 12/6 = 24+6 = 30 Million
_________________
My Best is yet to come!



Board of Directors
Status: QA & VA Forum Moderator
Joined: 11 Jun 2011
Posts: 4230
Location: India
GPA: 3.5
WE: Business Development (Commercial Banking)

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
23 Jun 2017, 07:59
Bunuel wrote: Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million (B) $15 million (C) $18 million (D) $27 million (E) $30 million 150% = 100% + 50%150% of 12 million = 100% of 12 million + 50% of 12 Million Or, 150% of 12 million = 12 million + 6 Million Or, 150% of 12 million = 18 million Thus, answer must be (C)
_________________
Thanks and Regards
Abhishek....
PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS
How to use Search Function in GMAT Club  Rules for Posting in QA forum  Writing Mathematical Formulas Rules for Posting in VA forum  Request Expert's Reply ( VA Forum Only )



Manager
Joined: 12 Nov 2016
Posts: 139
Concentration: Entrepreneurship, Finance
GMAT 1: 620 Q36 V39 GMAT 2: 650 Q47 V33

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
09 Dec 2017, 10:23
Abhishek009 wrote: Bunuel wrote: Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million (B) $15 million (C) $18 million (D) $27 million (E) $30 million 150% = 100% + 50%150% of 12 million = 100% of 12 million + 50% of 12 Million Or, 150% of 12 million = 12 million + 6 Million Or, 150% of 12 million = 18 million Thus, answer must be (C)I followed the same logic and had C. Moreover, I am sure that most of financial managers reading would immediately come up with 18 million and not 30 millions. But it seems it is GMAT logic that works like this...



Study Buddy Forum Moderator
Joined: 04 Sep 2016
Posts: 1253
Location: India
WE: Engineering (Other)

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
06 Jul 2018, 07:56
niks18 pushpitkc pikolo2510Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested
_________________
It's the journey that brings us happiness not the destination.



PS Forum Moderator
Joined: 25 Feb 2013
Posts: 1217
Location: India
GPA: 3.82

Re: Company K's earnings were $12 million last year. If this yea
[#permalink]
Show Tags
06 Jul 2018, 08:31
adkikani wrote: niks18 pushpitkc pikolo2510Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested Hi adkikaniwhat they did was simply 150% of Earnings. But the question states that the Earnings greater by 150%so new earning = Old earning +150% of Old Earning




Re: Company K's earnings were $12 million last year. If this yea &nbs
[#permalink]
06 Jul 2018, 08:31






