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If company Y’s profits decreased $1.5 million from last year to thisye

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If company Y’s profits decreased $1.5 million from last year to thisye  [#permalink]

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New post 18 Dec 2018, 13:08
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D
E

Difficulty:

  15% (low)

Question Stats:

91% (01:07) correct 9% (00:28) wrong based on 35 sessions

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If company Y’s profits decreased $1.5 million from last year to this year, what was the percent decrease in profits?

(1) If the profits had decreased by $2 million, there would have been a 40 percent decrease.

(2) This year’s profits were $3.5 million

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Re: If company Y’s profits decreased $1.5 million from last year to thisye  [#permalink]

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New post 18 Dec 2018, 18:19
1
The actual decrease from last year to this year is given as $1.5mn

To Find : the Percentage decrease

St 1 :

If profits had decreased by $2mn, the percentage decrease would have been 40%

So, Last year's profit = \(\frac{100}{40}\) * 2 = $5mn

So, Actual percent decrease from last year to this year = \(\frac{1.5}{5}\) * 100 = 30%

Sufficient

St 2 :

This is straightforward

This Year's Profit = $3.5mn

Last year's profit = 3.5 + 1.5 = 5

Percent decrease =\(\frac{1.5}{5}\) * 100 = 30%

Sufficient

Choice D
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Re: If company Y’s profits decreased $1.5 million from last year to thisye   [#permalink] 18 Dec 2018, 18:19
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If company Y’s profits decreased $1.5 million from last year to thisye

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