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Company K's earnings were $12 million last year. If this year's earnin SORT BY: Tags: Show Tags Hide Tags Math Expert Joined: 02 Sep 2009 Posts: 94589 Own Kudos [?]: 643390 [50] Given Kudos: 86728 Most Helpful Reply Math Expert Joined: 02 Sep 2009 Posts: 94589 Own Kudos [?]: 643390 [13] Given Kudos: 86728 General Discussion Manager Joined: 11 Jan 2014 Posts: 78 Own Kudos [?]: 413 [4] Given Kudos: 11 Concentration: Finance, Statistics GMAT Date: 03-04-2014 GPA: 3.77 WE:Analyst (Retail Banking) Manager Joined: 20 Dec 2013 Posts: 183 Own Kudos [?]: 291 [2] Given Kudos: 35 Location: India Re: Company K's earnings were$12 million last year. If this year's earnin [#permalink]
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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 year's earnin [#permalink] 1 Kudos 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: 28 Jan 2015 Posts: 115 Own Kudos [?]: 53 [0] Given Kudos: 51 Concentration: General Management, Entrepreneurship GMAT 1: 670 Q44 V38 Re: Company K's earnings were$12 million last year. If this year's earnin [#permalink]
150% increase = 12million*2.5 = 30million

!
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Re: Company K's earnings were $12 million last year. If this year's earnin [#permalink] 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: 86 Own Kudos [?]: 83 [0] Given Kudos: 23 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 year's earnin [#permalink]
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

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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 year's earnin [#permalink] 1 Kudos Expert Reply 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 Manager Joined: 12 Jun 2016 Posts: 145 Own Kudos [?]: 233 [0] Given Kudos: 151 Location: India Concentration: Technology, Leadership WE:Sales (Telecommunications) Re: Company K's earnings were$12 million last year. If this year's earnin [#permalink]
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 year's earnin [#permalink] 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) Manager Joined: 12 Nov 2016 Posts: 112 Own Kudos [?]: 94 [2] Given Kudos: 87 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 year's earnin [#permalink]
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Kudos
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

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 year's earnin [#permalink] niks18 pushpitkc pikolo2510 Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested Retired Moderator Joined: 25 Feb 2013 Posts: 893 Own Kudos [?]: 1558 [1] Given Kudos: 54 Location: India GPA: 3.82 Re: Company K's earnings were$12 million last year. If this year's earnin [#permalink]
niks18 pushpitkc pikolo2510

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

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 year's earnin [#permalink] 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% = 3/2 , 150% more = $$1 + \frac{3}{2} = > \frac{5}{2}$$ So, estimated value of Company K's projected earnings will be $$\frac{5}{2}*12 =>30$$, Answer must be (E) Non-Human User Joined: 09 Sep 2013 Posts: 34053 Own Kudos [?]: 853 [0] Given Kudos: 0 Re: Company K's earnings were$12 million last year. If this year's earnin [#permalink]
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Re: Company K's earnings were \$12 million last year. If this year's earnin [#permalink]
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