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Difficulty:
55%
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Question Stats:
59% (01:28) correct
41%
(01:26)
wrong
based on 790
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During a three-year period, the profits of company X changed by what percent from the second year to the third year?
(1) The increase in profits of company X from the first year to the second year was the same as the increase form the first year to the third year.
(2) For company X, the profits for the first year were $13,800 and the profits for the third year were $15,900
(1) The increase in profits of company X from the first year to the second year was the same as the increase form the first year to the third year.
(2) For company X, the profits for the first year were $13,800 and the profits for the third year were $15,900
18 Nov 2013, 03:39
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During a three-year period, the profits of company X changed by what percent from the second year to the third year?
(1) The increase in profits of company X from the first year to the second year was the same as the increase form the first year to the third year.
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. Thus, this statement implies that there was no increase from the second year to the third year. Sufficient.
(2) For company X, the profits for the first year were $13,800 and the profits for the third year were $15,900.
We need the profits for the second year. Not sufficient.
Answer: A.
(1) The increase in profits of company X from the first year to the second year was the same as the increase form the first year to the third year.
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. Thus, this statement implies that there was no increase from the second year to the third year. Sufficient.
(2) For company X, the profits for the first year were $13,800 and the profits for the third year were $15,900.
We need the profits for the second year. Not sufficient.
Answer: A.
General Discussion
01 Jan 2016, 07:18
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rxs0005
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
