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In Country C, the unemployment rate among construction worke

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Veritas Prep GMAT Instructor
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Location: Pune, India
Re: In Country C, the unemployment rate among construction worke  [#permalink]

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New post 19 May 2019, 21:38
VeritasKarishma wrote:
ronr34 wrote:
Anyone did this without picking numbers?


Yes, you can do it using the successive percentage change concept too.

Number of unemployed construction workers = Number of Construction Workers * Unemployment rate

If there is a change in the number of construction workers and unemployment rate, we can find the change in the number of unemployed construction workers.

Number of construction workers is 20% greater i.e. 6/5 of previous value
Unemployment rate reduces from 16 to 9 i.e. becomes 9/16 of previous value

Multiplier for number of unemployed construction workers = 6/5 * 9/16 = 27/40

This is a reduction of 13/40 which is a little more than 30%.

For more on this concept, check:
http://www.veritasprep.com/blog/2011/02 ... e-changes/
http://www.veritasprep.com/blog/2011/02 ... nt-profit/



Quote:
Can you please elaborate more on " Unemployment rate reduces from 16 to 9 i.e. becomes 9/16 of previous value"
I didnt understand this part


How do you find the number of unemployed workers?

No of unemployed = No of workers * Unemployment rate

So say when the rate was 16%,
No of unemployed = No of workers * (16/100)

But now the unemployment rate has become 9%
New No of unemployed = New no of workers * (9/100)

Or in other words, new unemployment rate = (9/16) of previous Unemployment rate = (9/16) * (16/100) = (9/100)

Do check out the posts I mentioned above.
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In Country C, the unemployment rate among construction worke  [#permalink]

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New post 18 Jul 2019, 06:58
it is very simple

9*1.2=10.8 approximate =11
16-11/16=30% approximately ...
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In Country C, the unemployment rate among construction worke   [#permalink] 18 Jul 2019, 06:58

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