For each of 3 grains-corn, soybeans, and wheatthe graph shows the mon

Question

For each of 3 grains-corn, soybeans, and wheat—the graph shows the monthly average export price per tonne (metric ton) for a certain nation last year as a percentage of the average export price for that grain in January.

Attachment:

12.png

Select from each drop-down menu the option that creates the most accurate statement based on the information provided.

The month after the monthly average export price for was at its maximum for last year, the actual average monthly export price for that grain decreased by of the maximum, to the nearest percent.

chetan2u · Accepted Answer

The question statement does not restrict our options to any of the grains, that is the answer could be for any of the grain fitting into values.  
So, we have no option but to check for all three.

Let the January price for corn, soybean and wheat be c, s and w respectively.
Then, we can get the values as

Grain.......Max average......price next month........change
Corn.............(1.25c)Sep.......(1.00c)Oct............ (\frac{1.25c-1.00c}{1.25c})*100=20% 
soybean.............(1.05s)Sep.......(0.90s)Oct............ (\frac{1.05s-0.90s}{1.05s})*100=14.2% ~14%
Wheat.............(1.27w)Feb.......(1.22w)Mar............ (\frac{1.27w-1.22w}{1.27w})*100=4%

The decrease given by second drop box has only 20% as an option, so corn and 20% are the correct answer.

Hope that helps

priyadabas01 · Answer

KarishmaB   GMATNinja  please explain this question - I believe it could be corn - 20% (since 125-100/125 -> 20%) or soybeans - 15%

KarishmaB · Answer

It will not be soybean because 15/105 = 1/7 which is 14.28% so it will be 14% if we were to make it equal to the closest integer. For quick calculations, you should be comfortable with fraction percent equivalents: https://youtu.be/HxnsYI1Rws8

priyadabas01 · Answer

Thanks for your reply  KarishmaB , can you also explain why it is 25% in the second blank instead of 20%?

KarishmaB · Answer

I would say that the price decreased by 20% or that it decreased by 25 percentage points hence I would select 20 here.

Ipsita! · Answer

Can someone explain this question for me?

Posted from my mobile device

Aneet · Answer

Is it Corn dec by15%??

anish777 · Answer

Is there a mistake here ? the percentage reduction should be 20% instead of 25%.

JoeAa · Answer

can you show the calculation of Q1? 
Does it mean I have to do the avg for three grains first? It will be very time-consuming.

alexmike · Answer

Certainly! If you have any questions or if there's specific information you'd like to discuss regarding the monthly average export prices per tonne for corn, soybeans, and wheat for a certain nation last year, feel free to provide more details or ask your questions. I'm here to assist you with any information or analysis you may need based on the description you've given.

maverick2023 · Answer

Can someone pls explain question 1? How do we know it's corn but not soybean? The maximum point for soybean is in September. It decreased from 105 to 90 in October.

nisen20 · Answer

I didn't even figure out what's the intended meaning until I read chetan2u's post.

Well, let's do a sentence correction practice, though it will be gone forever in two days.
 
It can be read as:  The month , the actual average monthly export price decreased.
As far as I'm concerned, this whole thing is not a sentence.
 The modifier  illogically connected with the main sentence ruins the meaning and makes people confused.
In this case, finding the grain and paired decrease in export price is nearly impossible.

bumpbot · Answer

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For each of 3 grains-corn, soybeans, and wheatthe graph shows the mon

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