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