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# In 1994, Company X recorded profits that were 10% greater

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In 1994, Company X recorded profits that were 10% greater [#permalink]

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19 Jan 2013, 03:29
1
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3
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65% (hard)

Question Stats:

59% (01:59) correct 41% (00:59) wrong based on 324 sessions

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In 1994, Company X recorded profits that were 10% greater than in 1993, and in 1993 the company’s profits were 20% greater than they were in 1992. What were the company’s profits in 1992?

(1) In 1994, the company’s profits were $100,000 greater than in 1993. (2) For every$3.00 in profits earned in 1992, Company X earned $3.96 in 1994. [Reveal] Spoiler: OA _________________ Thriving for CHANGE Last edited by Bunuel on 19 Jan 2013, 03:44, edited 1 time in total. Renamed the topic and edited the question. Math Expert Joined: 02 Sep 2009 Posts: 38798 Followers: 7713 Kudos [?]: 105760 [4] , given: 11581 Re: In 1994, Company X recorded profits that were 10% greater [#permalink] ### Show Tags 19 Jan 2013, 03:51 4 This post received KUDOS Expert's post 2 This post was BOOKMARKED In 1994, Company X recorded profits that were 10% greater than in 1993, and in 1993 the company’s profits were 20% greater than they were in 1992. What were the company’s profits in 1992? Profit in 1992 = x; Profit in 1993 = 1.2x; Profit in 1994 = 1.1*1.2x = 1.32x; (1) In 1994, the company’s profits were$100,000 greater than in 1993 --> 1.1*1.2x=1.2x+100,000 --> we can find x. Sufficient.

(2) For every $3.00 in profits earned in 1992, Company X earned$3.96 in 1994 --> for every $1 in 1992 the company earned$1.32 in 1994. We already knew that. Not sufficient.

P.S. Please read carefully and follow: rules-for-posting-please-read-this-before-posting-133935.html Pay attention to the rule #3: the name of a topic (subject field) MUST be the first 40 characters (~the first two sentences) of the question.
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19 Jan 2013, 03:47
The relation can be written as p(1.2)(1.1) for profits in 1994 and p for 1992.
P=?
Statement 1-
Hence p{(1.2)(1.1)-1.2}=given.
P can be easily calculated.

statement 2 is clearly insufficient.

+1A
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Re: In 1994, Company X recorded profits that were 10% greater [#permalink]

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10 Apr 2014, 10:44
(1) %-change = change amount / orig. amount => 10 % = 100.000 $/ orig. (1993) --> can calculate back to 1992. Suff. (2) for every 3$ in1992, we get 3.94 \$ in 1994. Only percent change. nothiung about total amount. IS.

Hence A
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Re: In 1994, Company X recorded profits that were 10% greater [#permalink]

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13 Jun 2015, 20:02
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).

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Re: In 1994, Company X recorded profits that were 10% greater [#permalink]

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07 Aug 2016, 07:57
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.
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Re: In 1994, Company X recorded profits that were 10% greater   [#permalink] 07 Aug 2016, 07:57
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