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In Country C, the number of transactions made by various noncash metho

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In Country C, the number of transactions made by various noncash metho  [#permalink]

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New post Updated on: 13 Oct 2019, 10:02
1
Project IR Butler 2019-20 - Get one IR Question Everyday
Question # 13, Date : 13-Oct-2019
This post is a part of Project IR Butler 2019-20. Click here for Details


In Country C, the number of transactions made by various non-cash methods in 2006 and 2009 are shown in the graphic. All other transactions were made with cash. (see the graph below)
Attachment:
Untitled1.png
Untitled1.png [ 50.86 KiB | Viewed 665 times ]


If the total value of all credit card transactions in 2009 was 10% more than the total value of all credit card transactions in 2006, then the average (arithmetic mean) value of credit card transactions increased by ___________ % from 2006 to 2009.

1) 2.0
2) 17.4
3) 21.0
4) 22.0

Spoiler: :: OA
3) 21.0

Originally posted by GMATbuster92 on 24 Sep 2018, 03:43.
Last edited by SajjadAhmad on 13 Oct 2019, 10:02, edited 3 times in total.
Updated - Complete topic (50).
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Re: In Country C, the number of transactions made by various noncash metho  [#permalink]

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New post 25 Sep 2018, 20:53
2
let the the average txns (2006) be s and txns (2009) be n.
Translating the prompt to an equation -If the total value of all credit card transactions in 2009 was 10% more than the total value of all credit card transactions in 2006, we get the below.
20n = 22s (110/100)
100n=121s
n/s = 121/100 =1.21

Calculating the increase in percentage;
(n/s - 1)100% = (1.21-1.00)100% = 21%

Hope this helps!!

(if it does, please hit kudos)
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Re: In Country C, the number of transactions made by various noncash metho  [#permalink]

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New post 13 Oct 2019, 10:17
2
Let x be total value in 2006
In 2009: 1.1x

Change in avg = (1.1x/20 - x/22)/(x/22) = 21%

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Re: In Country C, the number of transactions made by various noncash metho  [#permalink]

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New post 13 Oct 2019, 14:32
1
mean x count = sum / price x quantity = revenue

let revenue = a number i.e 220
2006 --> P x 22 (count) = 220 therefore price = 10
to get to revenue of 2009 +10%: 220 * .10(220) = 242
2009 --> P x 20 = 242 therefore price = 242/20 = 12.1

percent change
= (12.1 - 10) / 10
= .21 = 21%
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Re: In Country C, the number of transactions made by various noncash metho  [#permalink]

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New post 26 Nov 2019, 11:51
Why can't we plug in numbers?

# of Transactions
2006: 105
2009: 91

Value
2006: 100
2009: 110

110/91 = 1.21
100/105 = 0.95

(1.21-0.95)/1.21 = 0.21487603305

Why is this not the answer?
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Re: In Country C, the number of transactions made by various noncash metho   [#permalink] 26 Nov 2019, 11:51
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