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Occupancy rate is defined as the number of units occupied,

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Occupancy rate is defined as the number of units occupied,  [#permalink]

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Occupancy rate is defined as the number of units occupied divided by the number of total units. Was the occupancy rate in a certain apartment complex greater than 45% on June 30?

(1) On January 1st, the occupancy rate was 75%.

(2) At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.

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Originally posted by madhavsrinivas on 23 Dec 2013, 11:09.
Last edited by Bunuel on 24 Dec 2013, 02:22, edited 1 time in total.
Edited the question.
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Re: Occupancy rate is defined as the number of units occupied,  [#permalink]

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New post 23 Dec 2013, 19:38
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madhavsrinivas wrote:
Occupancy rate is defined as the number of units occupied divided by the number of total units. Was the occupancy rate in a certain apartment complex greater than 45% on June 30?

On January 1st, the occupancy rate was 75%.

At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.

Dear madhavsrinivas,
I'm happy to help. :-)

Statement #1: On January 1st, the occupancy rate was 75%
From this statement, we have no idea how things change from January to June. This statement, alone and by itself, is insufficient.

Statement #2: At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.
Interesting. We don't know what January is. Suppose January is 100%, the highest possible percent. Then,
end of February = 80%
end of March = 80*0.8 = 64%
end of April = 64*0.8 = 51.2%
end of May = 51.2*0.8 = 40.96%
end of June = 40.96 *0.8 ---- something less than 40%, so definitely less than 45%.
If January is the max percent, with this rule June is below 40%. If January started even lower, then June would be even lower, much lower than 40%.
We can give a definitive answer to the prompt question. This statement, alone and by itself, is sufficient.

Answer = (B)

Does all this make sense?
Mike :-)
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Re: Occupancy rate is defined as the number of units occupied,  [#permalink]

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New post 23 Dec 2013, 21:22
mikemcgarry wrote:
madhavsrinivas wrote:
Occupancy rate is defined as the number of units occupied divided by the number of total units. Was the occupancy rate in a certain apartment complex greater than 45% on June 30?

On January 1st, the occupancy rate was 75%.

At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.

Dear madhavsrinivas,
I'm happy to help. :-)

Statement #1: On January 1st, the occupancy rate was 75%
From this statement, we have no idea how things change from January to June. This statement, alone and by itself, is insufficient.

Statement #2: At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.
Interesting. We don't know what January is. Suppose January is 100%, the highest possible percent. Then,
end of February = 80%
end of March = 80*0.8 = 64%
end of April = 64*0.8 = 51.2%
end of May = 51.2*0.8 = 40.96%
end of June = 40.96 *0.8 ---- something less than 40%, so definitely less than 45%.
If January is the max percent, with this rule June is below 40%. If January started even lower, then June would be even lower, much lower than 40%.
We can give a definitive answer to the prompt question. This statement, alone and by itself, is sufficient.

Answer = (B)

Does all this make sense?
Mike :-)



Crystal clear! Thank you Mike :)
_________________

Kudos is the best way to say Thank you.
Believe in yourself! Practice more and good score in GMAT is for sure :)

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Re: Occupancy rate is defined as the number of units occupied,  [#permalink]

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New post 19 Apr 2015, 02:06
mikemcgarry wrote:
madhavsrinivas wrote:
Occupancy rate is defined as the number of units occupied divided by the number of total units. Was the occupancy rate in a certain apartment complex greater than 45% on June 30?

On January 1st, the occupancy rate was 75%.

At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.

Dear madhavsrinivas,
I'm happy to help. :-)

Statement #1: On January 1st, the occupancy rate was 75%
From this statement, we have no idea how things change from January to June. This statement, alone and by itself, is insufficient.

Statement #2: At the end of each month from February to June, the occupancy rate was 80% of the figure at the end of the preceding month.
Interesting. We don't know what January is. Suppose January is 100%, the highest possible percent. Then,
end of February = 80%
end of March = 80*0.8 = 64%
end of April = 64*0.8 = 51.2%
end of May = 51.2*0.8 = 40.96%
end of June = 40.96 *0.8 ---- something less than 40%, so definitely less than 45%.
If January is the max percent, with this rule June is below 40%. If January started even lower, then June would be even lower, much lower than 40%.
We can give a definitive answer to the prompt question. This statement, alone and by itself, is sufficient.

Answer = (B)

Does all this make sense?
Mike :-)


Thank you Mike.It was indeed an awesome explanation.
Thank you so mch!!!
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Re: Occupancy rate is defined as the number of units occupied,  [#permalink]

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New post 22 Aug 2017, 01:28
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Re: Occupancy rate is defined as the number of units occupied, &nbs [#permalink] 22 Aug 2017, 01:28
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