Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Apr 2610:00 AM EDT
-11:00 AM EDT
The Target Test Prep course represents a quantum leap forward in GMAT preparation, a radical reinterpretation of the way that students should study. Try before you buy with a 5-day, full-access trial of the course for FREE!
Apr 2711:00 AM EDT
-12:00 PM EDT
Prefer video-based learning? The Target Test Prep OnDemand course is a one-of-a-kind video masterclass featuring 400 hours of lecture-style teaching by Scott Woodbury-Stewart, founder of Target Test Prep and one of the most accomplished GMAT instructors
Apr 2808:00 AM PDT
-11:00 AM PDT
Whether you are just beginning your MBA journey or fine-tuning your path to a 700+ score, GMAT Day is designed to give you a competitive edge.
10 May 2018, 11:15
Kudos
Bookmarks
N
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
(N/A)
Question Stats:
0% (00:00) correct
0%
(00:00)
wrong
based on 0
sessions
History
Date
Time
Result
Not Attempted Yet
Hi I am currently doing a paper but I don't understand how to do the questions. The following question is the most challenging:
The number of cell phone users in a small town is thought to have increased according to the exponential growth model. Initially in 2014, there were 10,000 users.
a. Assuming a growth rate of 20%, how many users should there be by the end of 2017?
b. New data indicates that there were 18,225 users in 2016.
Determine the new growth rate using this added information.
The number of cell phone users in a small town is thought to have increased according to the exponential growth model. Initially in 2014, there were 10,000 users.
a. Assuming a growth rate of 20%, how many users should there be by the end of 2017?
b. New data indicates that there were 18,225 users in 2016.
Determine the new growth rate using this added information.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
Still interested in this question? Check out the "Best Topics" block below for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
10 May 2018, 13:03
Kudos
Bookmarks
princesskeelah
Hi princesskeelah
Welcome to GMATClub!
a. In order to solve this part of the question, we should simply multiply the number
of users(of a previous year) with 1.2 to get the number of users of the current year.
Going by that at the end of 2015, you will have 1.2*10000 or 12000 users
At the end of 2016, you will have 1.2(12000) = 14400 users
At the end of 2017, you will have 1.2(14400) = 17280 users
b. Since the new data shows that there were 18255 users in 2016 as opposed to the
14400 users if the growth rate was 20%, we know that the growth rate is greater
than 20. Let's call it x
\(10000(1 + \frac{x}{100})(1 + \frac{x}{100}) = 18255\)
\((1 + \frac{x}{100})^2 = \frac{18255}{10000}\)
\((100 + x)^2 = 18255\) -> \((100 + x) = \sqrt{18255} = 135\)(approximately)
Therefore, the new growth rate must be 35%(as per the new data)
Hope this helps you!
10 May 2018, 13:06
Kudos
Bookmarks
Thank you very much pushpitkc.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
