Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Nov 1811:00 AM PST
-12:00 PM PST
Join us in a live GMAT practice session and solve 30 challenging GMAT questions with other test takers in timed conditions, covering GMAT Quant, Data Sufficiency, Data Insights, Reading Comprehension, and Critical Reasoning questions.
Nov 2211:00 AM IST
-01:00 PM IST
Do RC/MSR passages scare you? e-GMAT is conducting a masterclass to help you learn – Learn effective reading strategies Tackle difficult RC & MSR with confidence Excel in timed test environment- Nov 23
11:00 AM IST
-01:00 PM IST
Attend this free GMAT Algebra Webinar and learn how to master the most challenging Inequalities and Absolute Value problems with ease. 
Nov 2510:00 AM EST
-11:00 AM EST
Prefer video-based learning? The Target Test Prep OnDemand course is a one-of-a-kind video masterclass featuring 400 hours of lecture-style teaching by Scott Woodbury-Stewart, founder of Target Test Prep and one of the most accomplished GMAT instructors.
09 May 2024, 20:35
Kudos
Bookmarks
2013: Increased from 2012
2014: Did not increase from 2012
2015: Did not increase from 2012
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
54% (02:48) correct
46%
(03:13)
wrong
based on 1367
sessions
History
Date
Time
Result
Not Attempted Yet
For each of the years 2012, 2013, 2014, and 2015, the table gives the total number of businesses that had an increase in the total value of their holdings with a certain community bank from January 1 of the previous year to January 1 of that year, the average (arithmetic mean) value by which holdings increased among businesses that had an increase during that time, and similar data for holdings decreases. For each year, all businesses with holdings at the bank had the value of their holdings either increase or decrease from the previous year.
Based on the information provided, for each of the following years, select Increased from 2012, if, on January 1 of that year, the total value of all business holdings at the bank (the sum of all individual business holdings) had increased from January 1 of 2012. Otherwise, select Did not increase from 2012.
| Year | Businesses with increased holdings | Average holding increase | Businesses with decreased holdings | Average holding decrease |
|---|---|---|---|---|
| 2012 | 23 | $37,501.22 | 44 | $42,998.33 |
| 2013 | 34 | $38,836.51 | 33 | $37,985.15 |
| 2014 | 28 | $30,521.97 | 39 | $41,697.34 |
| 2015 | 32 | $31,777.43 | 35 | $36,522.13 |
Based on the information provided, for each of the following years, select Increased from 2012, if, on January 1 of that year, the total value of all business holdings at the bank (the sum of all individual business holdings) had increased from January 1 of 2012. Otherwise, select Did not increase from 2012.
ID: 700254
| Increased from 2012 | Did not increase from 2012 | |
| 2013 | ||
| 2014 | ||
| 2015 |
ShowHide Answer
Official Answer
2013: Increased from 2012
2014: Did not increase from 2012
2015: Did not increase from 2012
09 May 2024, 20:37
Kudos
Bookmarks
You have to ensure that you do not end up calculating more than what is required, and compare the quantity asked.
We are to compare funds in the succeeding years to yr 2012 with year 2012 itself
2012: Let it be y
2013: Increase of 34*39k and a decrease of 33*38k......
34*39k>33*38k, so there was an increase over 2012. Do not waste time in calculationas that is not what has been asked.
2014: Increase of 28*30k and a decrease of 39*41k...Now, 41*39k>30*28k, so there was a decrease over 2013, and also this decrease was way greater than what ever increase would have been in 2013 from 2012.
Thus, this decrease results in the funds going lower than what were in 2012.
2015: The decrease is more than increase in 2015 in comparison to 2014, so surely a decreased amount in 2014 further reduces and will remain less than what was in 2012.
Solution: Increased, Not increased, Not increased
We are to compare funds in the succeeding years to yr 2012 with year 2012 itself
2012: Let it be y
2013: Increase of 34*39k and a decrease of 33*38k......
34*39k>33*38k, so there was an increase over 2012. Do not waste time in calculationas that is not what has been asked.
2014: Increase of 28*30k and a decrease of 39*41k...Now, 41*39k>30*28k, so there was a decrease over 2013, and also this decrease was way greater than what ever increase would have been in 2013 from 2012.
Thus, this decrease results in the funds going lower than what were in 2012.
2015: The decrease is more than increase in 2015 in comparison to 2014, so surely a decreased amount in 2014 further reduces and will remain less than what was in 2012.
Solution: Increased, Not increased, Not increased
General Discussion
10 May 2024, 11:29
Kudos
Bookmarks
Total value of all business in 2012
+(37501.22 *23) - 42998.33*44 = 862,528.06 -1,891,926.52 = -1,029,398.46
In. 2012 we have the value of all business -1,029,398.46 $
**In 2013
- (37985.15 *33) +( 38836.51*34) = 1,320,441.34 - 1,253,509.95 = 66,931.39
Increased
**in 2014
+(30521.97*28) - (41697.34*39) = -1,626,196.26 + 854,615.16= -771,581.1
Increased
** in 2014
+(31777.43*32) - (36522.13*35) = -1,278,274.55 + 1,016,877.76 = -261,396.79
Increased
Posted from my mobile device
+(37501.22 *23) - 42998.33*44 = 862,528.06 -1,891,926.52 = -1,029,398.46
In. 2012 we have the value of all business -1,029,398.46 $
**In 2013
- (37985.15 *33) +( 38836.51*34) = 1,320,441.34 - 1,253,509.95 = 66,931.39
Increased
**in 2014
+(30521.97*28) - (41697.34*39) = -1,626,196.26 + 854,615.16= -771,581.1
Increased
** in 2014
+(31777.43*32) - (36522.13*35) = -1,278,274.55 + 1,016,877.76 = -261,396.79
Increased
Posted from my mobile device
