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# In the beginning of the year, 35 percent of company X’s 120 customers

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Math Expert
Joined: 02 Sep 2009
Posts: 58340
In the beginning of the year, 35 percent of company X’s 120 customers  [#permalink]

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24 Sep 2018, 05:34
00:00

Difficulty:

45% (medium)

Question Stats:

67% (02:11) correct 33% (01:55) wrong based on 35 sessions

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In the beginning of the year, 35 percent of company X’s 120 customers were retailers, and after the 24-month period, 25 percent of its 240 customers were retailers. What was the simple annual percent growth rate in the number of retailers?

(A) 14.28%
(B) 21.43%
(C) 24.0%
(D) 30.0%
(E) 37.25%

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Intern
Joined: 15 Feb 2018
Posts: 20
Re: In the beginning of the year, 35 percent of company X’s 120 customers  [#permalink]

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01 Oct 2018, 07:28
1
Can be solved through simple interest-

35% of 120= 42
25% of 240= 60

Change=18

I=PxRxT/100

18=42x2xY / 100 (where Y is annual percent growth rate)

Y=21.43

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Manager
Joined: 14 Jun 2018
Posts: 219
In the beginning of the year, 35 percent of company X’s 120 customers  [#permalink]

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01 Oct 2018, 08:10
1
Beginning = 35% of 120 = 42
After 2 year 25% of 240 = 60
% change = 18*100/42 = 300/7% = 42.8%
Annual growth = 42.8/2 = 21.4%

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Manager
Joined: 19 Apr 2017
Posts: 173
Concentration: General Management, Sustainability
Schools: ESSEC '22
GPA: 3.9
WE: Operations (Hospitality and Tourism)
In the beginning of the year, 35 percent of company X’s 120 customers  [#permalink]

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01 Oct 2018, 08:23
V1 = 42 and V2 = 60

Formula for all Percent change $$=\frac{(V2−V1)}{|V1|}×100$$

Percent change $$=\frac{(60−42)}{|42|}×100$$
Change for 2 years$$=\frac{18}{42}×100=42.85$$

change for 1 year $$= \frac{18}{42}×\frac{100}{2} = 21.4$$
In the beginning of the year, 35 percent of company X’s 120 customers   [#permalink] 01 Oct 2018, 08:23
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# In the beginning of the year, 35 percent of company X’s 120 customers

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