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During a 3 year period, the profits of company X changed by

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During a 3 year period, the profits of company X changed by  [#permalink]

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New post 15 Feb 2011, 09:16
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During a 3 year period, the profits of company X changed by what percent form the second year to the third year

(1) The increase in profits of company X from first year to the second year was the same as the increase from the first year to the third year
(2) For company X the profits for first year = 13000$ and for 3rd year = 15900$

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Re: Word problem  [#permalink]

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New post 15 Feb 2011, 09:30
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rxs0005 wrote:
During a 3 year period , the profits of company X changed by what percent form the second year to the third year


S1 The increse in profits of company X from first year to the second year was the same as the increase from the first year to the third year


S2 For company X the profits for first year = 13000$ and for 3d year = 15900$


rxs0005 don't shorten or reword the questions.

(1) Since the increase in profits from 1st year to the 2nd year was the same as the increase from the 1st year to the 3rd year then there was not any increase in profits from the 2nd year to the 3rd year, which means 0% increase from the 2nd year to the 3rd year. Sufficient.

(2) Clearly insufficient.

Answer: A.
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Re: During a 3 year period, the profits of company X changed by  [#permalink]

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New post 16 Feb 2014, 00:24
St1: The increase in profits of company X from first year to the second year was the same as the increase from the first year to the third year.

Let 1st year profit be 100 and 2nd year profit be 200. This is an increase of 100%. As per this statement, the profit for the 3rd year will also be 200 because we need to keep the percentage increase from the 1st year to 2nd year same as that from 1st year to 3rd year.

Bottom line (pun intended :wink: ), the percentage increase from 2nd year to 3rd year is 0. Sufficient.

St2: For company X the profits for first year = 13000$ and for 3d year = 15900$.

Not sufficient. We have no information about 2nd year.

Answer (A).
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During a 3 year period, the profits of company X changed by  [#permalink]

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New post 01 Jan 2016, 07:18
rxs0005 wrote:
During a 3 year period, the profits of company X changed by what percent form the second year to the third year

(1) The increase in profits of company X from first year to the second year was the same as the increase from the first year to the third year
(2) For company X the profits for first year = 13000$ and for 3rd year = 15900$


let's start with statement (2): It's clearly not sufficient, as we don't have any information about the 2nd year.
(1) This one is tricky. Either you solve this one conceptually (see the solution provided by Bunuel) or using algebra:

Profits
1st year=x
2md year = y
3rd year = z

Percent change
1st - 2nd year:\(\frac{y-x}{x}\)
1st - 3rd year:\(\frac{z-x}{x}\)
And both changes are equal:\(\frac{y-x}{x}=\frac{z-x}{x}\), just do the required manipualtions and you'll get y=z, hence 0% change Sufficient
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Re: During a 3 year period, the profits of company X changed by  [#permalink]

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New post 18 Mar 2018, 20:44
Got this right. but it looks more like a CR thing than quant. can we really expect this type of question on the test?
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Re: During a 3 year period, the profits of company X changed by  [#permalink]

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New post 18 Mar 2018, 22:42
krish76 wrote:
Got this right. but it looks more like a CR thing than quant. can we really expect this type of question on the test?


Hello

Yes its possible. As per the website, GMAT quant section tests "...your ability to analyse data and draw conclusions using reasoning skills".

Also, "The GMAT exam measures the test taker's ability to assess higher-order reasoning skills (verbal, quantitative, analytical writing and integrated reasoning)..."

There is a possibility that a question might just need reasoning/logic and no calculation at all.
Re: During a 3 year period, the profits of company X changed by &nbs [#permalink] 18 Mar 2018, 22:42
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