GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 19 Nov 2018, 21:57

### 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

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

## Events & Promotions

###### Events & Promotions in November
PrevNext
SuMoTuWeThFrSa
28293031123
45678910
11121314151617
18192021222324
2526272829301
Open Detailed Calendar
• ### How to QUICKLY Solve GMAT Questions - GMAT Club Chat

November 20, 2018

November 20, 2018

09:00 AM PST

10:00 AM PST

The reward for signing up with the registration form and attending the chat is: 6 free examPAL quizzes to practice your new skills after the chat.
• ### The winning strategy for 700+ on the GMAT

November 20, 2018

November 20, 2018

06:00 PM EST

07:00 PM EST

What people who reach the high 700's do differently? We're going to share insights, tips and strategies from data we collected on over 50,000 students who used examPAL.

### Show Tags

09 Dec 2014, 06:08
00:00

Difficulty:

5% (low)

Question Stats:

89% (00:48) correct 11% (00:51) wrong based on 87 sessions

### HideShow timer Statistics

Tough and Tricky questions: Word Problems.

If today the price of an item is $3,600, what was the price of the item exactly 2 years ago? (1) The price of the item increased by 10 per-cent per year during this 2-year period. (2) Today the price of the item is 1.21 times its price exactly 2 years ago. Kudos for a correct solution. _________________ Manager Joined: 12 Sep 2014 Posts: 150 Concentration: Strategy, Leadership GMAT 1: 740 Q49 V41 GPA: 3.94 Re: If today the price of an item is$3,600, what was the price of the ite  [#permalink]

### Show Tags

09 Dec 2014, 09:36
If today the price of an item is $3,600, what was the price of the item exactly 2 years ago? (1) The price of the item increased by 10 per-cent per year during this 2-year period. Sufficient--if we know this statement is true, then 2 years ago, the price would have to be 3600/1.1, right?. (2) Today the price of the item is 1.21 times its price exactly 2 years ago. Sufficient--the price was 3600/1.21 exactly 2 years ago. I chose D, but I was a little worried about the wording of A. I still think A means that the price 2 years ago would have to be$3600/1.1.
Intern
Joined: 08 Jul 2012
Posts: 49
Re: If today the price of an item is $3,600, what was the price of the ite [#permalink] ### Show Tags 09 Dec 2014, 22:07 If today the price of an item is$3,600, what was the price of the item exactly 2 years ago?

(1) The price of the item increased by 10 per-cent per year during this 2-year period -->
today's price =3600 = 1.1 (last year's price)
last year's price = 1.1(price 2 years ago)
hence, today's price =3600 = 1.1 (1.1*price 2 years ago) = 1.21(price 2 years ago)............sufficient
(2) Today the price of the item is 1.21 times its price exactly 2 years ago -->directly gives the equation......sufficient

Ans. D)
_________________

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. - Thomas A. Edison

Manager
Joined: 04 Oct 2013
Posts: 152
Location: India
GMAT Date: 05-23-2015
GPA: 3.45
Re: If today the price of an item is $3,600, what was the price of the ite [#permalink] ### Show Tags 10 Dec 2014, 02:21 2 If today the price of an item is$3,600, what was the price of the item exactly 2 years ago?

(1) The price of the item increased by 10 per-cent per year during this 2-year period.
(2) Today the price of the item is 1.21 times its price exactly 2 years ago.

Present price of an item = $3,600 Let the price of the item two years ago be x Statement 1$3600=x(1+10/100)^2
Or, $$x = \frac{3600}{1.21}$$..........................Sufficient

Statement 2
$$3600=x*1.21$$ or, $$x =\frac{3600}{1.21}$$....Sufficient

Math Expert
Joined: 02 Sep 2009
Posts: 50672
Re: If today the price of an item is $3,600, what was the price of the ite [#permalink] ### Show Tags 26 Dec 2014, 09:58 Bunuel wrote: Tough and Tricky questions: Word Problems. If today the price of an item is$3,600, what was the price of the item exactly 2 years ago?

(1) The price of the item increased by 10 per-cent per year during this 2-year period.
(2) Today the price of the item is 1.21 times its price exactly 2 years ago.

Kudos for a correct solution.

_________________
Non-Human User
Joined: 09 Sep 2013
Posts: 8846
Re: If today the price of an item is $3,600, what was the price of the ite [#permalink] ### Show Tags 28 Aug 2018, 12:04 Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________ Re: If today the price of an item is$3,600, what was the price of the ite &nbs [#permalink] 28 Aug 2018, 12:04
Display posts from previous: Sort by