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Robert’s rent increased each year by the same percent, as shown in the

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Robert’s rent increased each year by the same percent, as shown in the  [#permalink]

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New post 04 Jan 2019, 11:07
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A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

88% (00:37) correct 13% (00:14) wrong based on 24 sessions

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Robert’s rent increased each year by the same percent, as shown in the chart above. At that rate, what was his rent in 1991?

A. 420
B. 430
C. 432
D. 438
E. 440

Source: Kaplan GMAT Math Workbook - Sixth Edition
Page# 303

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Re: Robert’s rent increased each year by the same percent, as shown in the  [#permalink]

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New post 04 Jan 2019, 12:59
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SajjadAhmad - Happy New Year to you and your family; I hope you spent some amazing time with your folks.

Here's the solution:

Since the rent increased each year by the same percent, Rate of increase from 1988 to 1989 = Rate of increase from 1990 to 1991
(300 - 250)/250 = (x - 360)/360, where x is the rent in 1991 (assumed)
1/5 = (x - 360)/360
Solving for x, we get x = 432

Note: Change Rate Formula
Change Rate = (New Value - Old Value)/Old Value

Hence, the Correct Answer is C. 432

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Re: Robert’s rent increased each year by the same percent, as shown in the  [#permalink]

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New post 05 Jan 2019, 04:05
SajjadAhmad wrote:
Attachment:
BHB.jpg


Robert’s rent increased each year by the same percent, as shown in the chart above. At that rate, what was his rent in 1991?

A. 420
B. 430
C. 432
D. 438
E. 440

Source: Kaplan GMAT Math Workbook - Sixth Edition
Page# 303


It can be seen that from the first year to the second year, increase has been by one-fifth

So, the required value = 360 + (1/5) * 360 = 432 (Note : Rate of Increase is Constant)

Choice C
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Re: Robert’s rent increased each year by the same percent, as shown in the &nbs [#permalink] 05 Jan 2019, 04:05
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