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19 Jul 2018, 23:29
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
77% (02:10) correct
23%
(02:08)
wrong
based on 141
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Not Attempted Yet
For a certain farm, soybean production increased by 25 percent from year X to year Y, and the selling price of soybeans decreased by 25 percent from year X to year Y. If the entire soybean production was sold each year, approximately what was the percent change in the revenues from the sale of the soybeans from year X to year Y?
A. 56% decrease
B. 6% decrease
C. no change
D. 6% increase
E. 56% increase
A. 56% decrease
B. 6% decrease
C. no change
D. 6% increase
E. 56% increase
GMATbuster92
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19 Jul 2018, 23:43
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as answer choices in this question are very far apart , you can easily eliminate some answer choices:
like answer choice C.
now just take value for year x --> production = 100 , price = 100
now for year y ---> production = 100 + 25% of 100 = 125
price = 100 - 25% of 100 = 75
now for x = 10000
and for y = 125 * 75 = 9375 (even you can guess this value will be less than x 120 * 80 = 9600)
now as this won't be half of year x so you can easily tick option B
like answer choice C.
now just take value for year x --> production = 100 , price = 100
now for year y ---> production = 100 + 25% of 100 = 125
price = 100 - 25% of 100 = 75
now for x = 10000
and for y = 125 * 75 = 9375 (even you can guess this value will be less than x 120 * 80 = 9600)
now as this won't be half of year x so you can easily tick option B
20 Jul 2018, 03:26
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Bunuel
For a certain farm, soybean production increased by 25 percent from year X to year Y, and the selling price of soybeans decreased by 25 percent from year X to year Y. If the entire soybean production was sold each year, approximately what was the percent change in the revenues from the sale of the soybeans from year X to year Y?
Sales that year = Selling Price that year * Total Production that year
= Selling Price that year * 1.25 * 0.75 * Total Production that year
= 0.94 * Selling Price that year * Total Production that (approx)
= Decrease of 6%
Hence, B.
