|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Dropdown 1: 30 cents
Dropdown 2: triple
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
48% (02:54) correct
52%
(02:56)
wrong
based on 241
sessions
History
Date
Time
Result
Not Attempted Yet
The graph compares the cost of ethanol and gasoline in the United States with the cost of corn over a period of time. Ethanol and gasoline costs are shown on the left vertical axis, and corn costs are shown on the right vertical axis.
Select from each drop-down menu the option that creates the most accurate statement, given the information provided.
The highest cost of ethanol per gallon was approximately greater than the lowest cost of corn per bushel.
At the end of the period shown in the graph, the cost per gallon of gasoline was approximately of what it was at the beginning of the period.
Attachment:
BHBH.jpg [ 81.79 KiB | Viewed 4851 times ]
ShowHide Answer
Official Answer
Dropdown 1: 30 cents
Dropdown 2: triple
02 Dec 2024, 08:30
Kudos
Bookmarks
Bunuel
Official Solution:
Drop-down 1:
The highest cost for ethanol was at the beginning of 2013, reaching approximately $3.20–$3.30 per gallon, while the lowest cost for corn was at the end of 2015, at approximately $2.90–$3.00 per bushel. Therefore, the highest cost for ethanol was approximately 20–40 cents greater than the lowest cost of corn.
Drop-down 2:
At the beginning of 2008, the cost of gasoline was approximately $0.60 per gallon, while by the end of 2016, it had increased to approximately $1.70, meaning the price approximately tripled.
Correct answer:
Dropdown 1: "15%"
Dropdown 2: "triple "
10 Dec 2024, 18:20
Kudos
Bookmarks
1. The highest cost of ethanol was about $3.25 (Jan-13) and the lowest cost of corn was about $3 (Jan-16). So, it is \(\frac{3.25 - 3}{3} * 100\% \approx 8.33\%\), which is closest to the answer choice 15%.
2. The cost of gasoline is about $3 at the end and about $1 at the beginning. So, it was approximately triple of what it was.
--------------------------------
Note that these estimations can result in very different answers but the answer choice that best matches it will stay the same. For example, in the second case we can better estimate it to be \(\frac{3.40}{0.80} = 4.25\) but it's still closest to 3.
2. The cost of gasoline is about $3 at the end and about $1 at the beginning. So, it was approximately triple of what it was.
--------------------------------
Note that these estimations can result in very different answers but the answer choice that best matches it will stay the same. For example, in the second case we can better estimate it to be \(\frac{3.40}{0.80} = 4.25\) but it's still closest to 3.
