For each of the years 1995 through 2010, the graphic shows the

Question

https://gmatclub.com/forum/download/file.php?id=75038 For each of the years 1995 through 2010, the graphic shows the year-end price, in pounds sterling (£), of 1 troy ounce of gold. The troy ounce is a unit of mass, and 1 troy ounce is approximately 31.1 grams. From each drop-down menu, select the option that creates the most accurate statement based on the information provided. In GRAPH_1_PLACEHOLDER the year-end price of 100 grams of gold was approximately £ GRAPH_2_PLACEHOLDER ID: 100472 Price of Gold Per Troy Ounce.png

GMATCoachBen · Answer

A key thing to notice is there is only ONE statement, with two interconnected choices, not two separate statements.

So, we need to find the two answer choices that work together to be most accurate.

This tends to be more common on Two-Part Analysis.

Video solution here:

https://www.youtube.com/watch?v=9NyBp02UWWY&list=PL2exXfCUscn_h_v1K4UnYA7Ay2SZaLWyz&index=16

vn049636 · Answer

100 gm is approximately 3.25 ounce

In 2005, it will cost = 975 (app)
In 2008, it will cost = 1950 (app)
In 2010, it will be more than 2700

from options 2008,1900 are close match

Bismuth83 · Answer

1. The problem asks us to  find the year-end price of 100 grams of gold for a certain year . The best way to do this is to calculate the price for each of the given years and see which one is closest to the answer.

2. 100 grams can be converted to  \frac{100}{31.1}  troy ounces.

3. We are given the years  2005, 2008, and 2010 . Looking at the graph, we get the following prices, which we can fill in a table:

Years  
  Price for 1 troy ounce of gold  
  Price for  \frac{100}{31.1}  troy ounces of gold  
  Estimated year-end price  
 
   2005  
  300£  
  ?  
  ?  
 
   2008  
  600£  
  ?  
  ?  
 
   2010  
  900£  
  ?  
  ?

4. To get the price for  \frac{100}{31.1}  troy ounces of gold, we need just need to multiply by  \frac{100}{31.1} .

Years  
  Price for 1 troy ounce of gold  
  Price for  \frac{100}{31.1}  troy ounces of gold  
  Estimated year-end price  
 
   2005  
  300£  
   \approx 964.23£  
  960£  
 
   2008  
  600£  
   \approx 1929.26£  
  1930£  
 
   2010  
  900£  
   \approx 2893.89£  
  2900£

5. Our answer options are:  300, 600, 1200, 1900, and 2500 . The closest price to one of the options is from the year 2008. So, our answer will be   2008 and 1900  .

Armaan209 · Answer

For easier alculation take multiply the proce by 3 as this will be the proce foe 31 x 3 grams : 93 grams and the right proce will be a bit highr than that.

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For each of the years 1995 through 2010, the graphic shows the

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Years	Price for 1 troy ounce of gold	Price for \(\frac{100}{31.1}\) troy ounces of gold	Estimated year-end price
2005	300£	?	?
2008	600£	?	?
2010	900£	?	?

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For each of the years 1995 through 2010, the graphic shows the

Prep Toolkit

615 to 715 in 15 Days (Ria's Strategies)

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From 555 to 765: 210-point Improvement

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My Rewards