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Company K's earnings were $12 million last year. If this yea

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Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 30 Jan 2014, 00:44
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The Official Guide For GMAT® Quantitative Review, 2ND Edition

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

Problem Solving
Question: 66
Category: Arithmetic Percents
Page: 70
Difficulty: 600


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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 30 Jan 2014, 00:44
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SOLUTION

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 percent greater is (1 + 150/100) = 2.5 times greater (the same way as 10% greater is (1+10/100)=1.1 times greater or the same way as 100% greater is (1+100/100)=2 times greater or the same way as 5% greater is (1+5/100)=1.05 times greater).

Earnings this year = 12*2.5 = 30.

Answer: E.
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 30 Jan 2014, 00:52
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150% is equivalent to 1.50.

So 12(1.50) = 18 increase over last year.

12 + 18 = 30.

Which is (E).

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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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

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New post 31 Jan 2014, 05:24
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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)
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 20 Apr 2015, 21:02
150% increase = 12million*2.5 = 30million

!
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 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
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 02 Jun 2017, 07:51
Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

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

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 Project

Each 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.
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 05 Jun 2017, 14:57
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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
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 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
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 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)
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 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...
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 06 Jul 2018, 07:56
niks18 pushpitkc pikolo2510

Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested ;)
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Re: Company K's earnings were $12 million last year. If this yea  [#permalink]

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New post 06 Jul 2018, 08:31
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adkikani wrote:
niks18 pushpitkc pikolo2510

Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested ;)


Hi adkikani

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