It is currently 18 Nov 2017, 20:31

Close

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

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

The inflation index for the year 1989 relative to the year

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Manager
Manager
User avatar
Joined: 28 May 2009
Posts: 155

Kudos [?]: 266 [0], given: 91

Location: United States
Concentration: Strategy, General Management
GMAT Date: 03-22-2013
GPA: 3.57
WE: Information Technology (Consulting)
GMAT ToolKit User
The inflation index for the year 1989 relative to the year [#permalink]

Show Tags

New post 24 Dec 2012, 21:13
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

76% (01:11) correct 24% (01:36) wrong based on 76 sessions

HideShow timer Statistics

The inflation index for the year 1989 relative to the year 1970 was 3.56, indicating that, on the average, for each dollar spent in 1970 for goods, $3.56 had to be spent for the same goods in 1989. If the price of a Model K mixer increased precisely according to the inflation index, what was the price of the mixer in 1970?

(1) The price of the Model K mixer was $102.40 more in 1989 than in 1970.

(2) The price of the Model K mixer was $142.40 in 1989.
[Reveal] Spoiler: OA

_________________

New to GMAT Club? Start here

Kindle Flashcards - Quant (Official Gmat Club, miguemick's Quant topics), and Verbal (Official Gmat Club) - in Kindle (azw3) format

Kudos [?]: 266 [0], given: 91

VP
VP
User avatar
Status: Been a long time guys...
Joined: 03 Feb 2011
Posts: 1378

Kudos [?]: 1703 [0], given: 62

Location: United States (NY)
Concentration: Finance, Marketing
GPA: 3.75
GMAT ToolKit User Premium Member
Re: The inflation index for the year 1989 relative to the year [#permalink]

Show Tags

New post 24 Dec 2012, 21:57
Let the price in year 1970 be \(x\) and in 1989 be \(y\).
Given relation: \(y=3.56x\)

Statement 1:-\(y=x+102.4\),
We have two equation and two variables. Hence x, or price in 1970, can be found out. Sufficient.

Statement 2:-\(y=142.4\)
Since \(x=y/3.56\), hence x, or price in 1970, can be found out. Sufficient
_________________

Prepositional Phrases Clarified|Elimination of BEING| Absolute Phrases Clarified
Rules For Posting
www.Univ-Scholarships.com

Kudos [?]: 1703 [0], given: 62

Re: The inflation index for the year 1989 relative to the year   [#permalink] 24 Dec 2012, 21:57
Display posts from previous: Sort by

The inflation index for the year 1989 relative to the year

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


cron

GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.