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need help with below question

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G
Joined: 28 Jun 2018
Posts: 147
Location: India
Concentration: Finance, Marketing
Schools: CUHK '21 (II)
GMAT 1: 650 Q49 V30
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need help with below question  [#permalink]

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New post 24 Sep 2018, 02:43
Hi
I tried finding below question on the forum but could not found it, if this question is already discussed than please let me know the link.

Questions :
In Country C, the number of transactions made by various noncash methods in 2006 and 2009 are shown in the graphic. All other transactions were made with cash. (see the graph below)

If the total value of all credit card transactions in 2009 was 10% more than the total value of all credit card transactions in 2006, then the average (arithmetic mean) value of credit card transactions increased by ___________ % from 2006 to 2009.

1) 2.0
2) 17.4
3) 21.0
4) 22.0
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Re: need help with below question  [#permalink]

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New post 25 Sep 2018, 19:53
1
let the the average txns (2006) be s and txns (2009) be n.
Translating the prompt to an equation -If the total value of all credit card transactions in 2009 was 10% more than the total value of all credit card transactions in 2006, we get the below.
20n = 22s (110/100)
100n=121s
n/s = 121/100 =1.21

Calculating the increase in percentage;
(n/s - 1)100% = (1.21-1.00)100% = 21%

Hope this helps!!

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Re: need help with below question &nbs [#permalink] 25 Sep 2018, 19:53
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