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18 Dec 2018, 13:08
00:00

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 _________________ GMAT Tutor Joined: 07 Nov 2016 Posts: 56 GMAT 1: 760 Q51 V42 Re: If company Y’s profits decreased$1.5 million from last year to thisye  [#permalink]

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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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