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# Last year in a group of 30 businesses, 21 reported a net

Author Message
Director
Joined: 01 Apr 2008
Posts: 875

Kudos [?]: 843 [0], given: 18

Name: Ronak Amin
Schools: IIM Lucknow (IPMX) - Class of 2014
Last year in a group of 30 businesses, 21 reported a net [#permalink]

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04 Jul 2009, 21:47
00:00

Difficulty:

(N/A)

Question Stats:

67% (01:10) correct 33% (02:19) wrong based on 3 sessions

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This topic is locked. If you want to discuss this question please re-post it in the respective forum.

Last year in a group of 30 businesses, 21 reported a net profit and
did not report a net profit nor invest in foreign markets last year?
(1) last year 12 of the 30 businesses
reported a net profit and had investments
in foreign markets.
(2) last year 24 of the 30 businesses
reported a net profit or invested in
foreign markets, or both.

Kudos [?]: 843 [0], given: 18

Manager
Joined: 28 Jan 2004
Posts: 202

Kudos [?]: 28 [0], given: 4

Location: India

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04 Jul 2009, 23:15
D

n(AUB) = n(A) + n(B) - n(A&B)
Stmt 1:
n(AUB) = 21+15-12 = 24
=> 30-24 = 6 did neither report a net profit nor invest in foreign markets last year
Sufficient

Stmt 2:
30-24 = 6 did not report a net profit nor invest in foreign markets last year
Suffiicient

Kudos [?]: 28 [0], given: 4

Director
Joined: 01 Apr 2008
Posts: 875

Kudos [?]: 843 [0], given: 18

Name: Ronak Amin
Schools: IIM Lucknow (IPMX) - Class of 2014

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05 Jul 2009, 07:55
I got D too. Answer is B

Kudos [?]: 843 [0], given: 18

Current Student
Joined: 13 Jan 2009
Posts: 364

Kudos [?]: 144 [0], given: 1

Location: India

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05 Jul 2009, 08:26
OA can be wrong

I am also getting D.

Kudos [?]: 144 [0], given: 1

Manager
Joined: 21 Jul 2009
Posts: 242

Kudos [?]: 134 [0], given: 23

Location: New York, NY

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13 Nov 2009, 11:42

Kudos [?]: 134 [0], given: 23

Manager
Joined: 13 Aug 2009
Posts: 199

Kudos [?]: 126 [0], given: 16

Schools: Sloan '14 (S)

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13 Nov 2009, 22:59
Questions like this are best solved using a simple chart:

......................./.....net profit......./........no net profit../
for. market......../..........A............./...............B........../......15
no for. market..../..........C............./...............D........./.......15
......................./.........21............/...............9........../.......30

Note that we are being asked to find the value for D.

From here is it pretty easy to see if the statements are sufficient:

Statement 1:

Essentially we are given the value for A. Using A we can solve for C (21-A). Once we know the value for C is is very easy to find the value for D (15-C).

SUFFICIENT

Statement 2:

We are given the value of A+B+C. It is not necessary to know the individual values to solve for D:
30-(A+B+C) = D

SUFFICIENT

Each statment is sufficient on its own:

Kudos [?]: 126 [0], given: 16

Manager
Joined: 16 Jul 2009
Posts: 248

Kudos [?]: 440 [0], given: 3

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15 Nov 2009, 03:33
Clearly the OA must be wrong..the answer has to be D..

Kudos [?]: 440 [0], given: 3

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