In each of the last five years, Company K donated p percent of its

We are given that in each of the last five years, Company K donated p percent of its annual profits to a certain scholarship fund. We need to determine whether company K donated more than 10,000 dollars to the scholarship fund last year.

Statement One Alone:

Two years ago, Company K had annual profits of $3 million and donated $15,000 to the scholarship fund.

Using the information in statement one, we can determine a value for p.

3,000,000(p/100) = 15,000

3,000,000p = 1,500,000

p = 0.5

Thus, in each of the last 5 years, company K donated 0.5% of its profits. However, since we don’t know the profit made last year, we can’t answer the question. Statement one alone is not sufficient. We can eliminate answer choices A and D.

Statement Two Alone:

Last year, Company K had annual profits of $2.5 million.

Since we do not have a value for p, statement two alone is not sufficient to answer the question. We can eliminate answer choice B.

Statements One and Two Together:

Using the information in statements one and two, we can determine that last year company K donated 0.5 percent of their 2.5 million dollar profit, or $12,500, which is more than $10,000. The two statements together are sufficient.

Answer: C