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# The table below represents the combined net income of all United State

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Math Expert
Joined: 02 Sep 2009
Posts: 58400
The table below represents the combined net income of all United State  [#permalink]

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08 Oct 2018, 03:39
00:00

Difficulty:

35% (medium)

Question Stats:

68% (01:55) correct 32% (01:46) wrong based on 140 sessions

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The table below represents the combined net income of all United States companies in each of five sectors for the second quarter of 1996. Which sector had the greatest net income during the first quarter of 1996?

(A) Basic Materials

(B) Energy

(C) Industrial

(D) Utilities

(E) Conglomerates

Attachment:

sk-443-image-1.png [ 46.6 KiB | Viewed 2450 times ]

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Re: The table below represents the combined net income of all United State  [#permalink]

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08 Oct 2018, 04:34
1
Bunuel wrote:

The table below represents the combined net income of all United States companies in each of five sectors for the second quarter of 1996. Which sector had the greatest net income during the first quarter of 1996?

(A) Basic Materials

(B) Energy

(C) Industrial

(D) Utilities

(E) Conglomerates

Attachment:
sk-443-image-1.png

Income in first quarter
Basic Materials => .74x=4.83 => x = 6.4
Energy => 1.4x=7.46 => x= 5.3
Industrial is 1% change so ~5
Utilities is 303% < Basic Material
Conglomerates => 1.1x=2.07 < Basic Materials

Therefore
A
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The table below represents the combined net income of all United State  [#permalink]

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08 Oct 2018, 06:09
Bunuel wrote:

The table below represents the combined net income of all United States companies in each of five sectors for the second quarter of 1996. Which sector had the greatest net income during the first quarter of 1996?

(A) Basic Materials

(B) Energy

(C) Industrial

(D) Utilities

(E) Conglomerates

Attachment:
sk-443-image-1.png

rounding numbers for easy calculations is good idea

A. Second quarter 4.5 %
%change - 25
Then first quarter 6 %
But If second quarter is 4.83, then first quarter is more than 6

B. Second quarter 7.46
Change 40
If first quarter is 5 then then second quarter is 7. But if second quarter is 7.45, then first quarter is a bit more than 5

C. second quarter 5
change -1%
0.99x =5
First quarter a bit more than 5

D. second quarter 8.57
Percent change from 1st quarter +303%
If first quarter is 2, then second quarter will 8
But since second quarter is more 8.57, then first quarter is a bit more than 2

E. second quarter \$2.07
Percent change from 1st quarter +10%
it can clearly be seen tha first quarter is less than 2
2.07=1.1x

hence A
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Posts: 4003
Re: The table below represents the combined net income of all United State  [#permalink]

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06 Sep 2019, 05:37
1
Top Contributor
Bunuel wrote:

The table below represents the combined net income of all United States companies in each of five sectors for the second quarter of 1996. Which sector had the greatest net income during the first quarter of 1996?

(A) Basic Materials

(B) Energy

(C) Industrial

(D) Utilities

(E) Conglomerates

Attachment:
sk-443-image-1.png

The great thing about most (all) GMAT math questions is that they won't have answer choices so close together that they require you to perform tedious calculations to determine which one is correct. This question is no exception.

Let's check each one.
A) Basic Materials
2nd Quarter = \$4.83 (billion)
Percent change from 1st quarter = -26%

Recognize that IF the 1st quarter income were \$6, and IF the percent change were -25%, then the 2nd quarter income would be \$4.5
Instead, 2nd quarter income is \$4.83, which means the 1st quarter income must be GREATER than \$6
That's as precise as we need to be here.

B) Energy
2nd Quarter = \$7.46 (billion)
Percent change from 1st quarter = 40%

Recognize that IF the 1st quarter income were \$5, then the 2nd quarter income would be \$7
Instead, 2nd quarter income is \$7.46, which means the 1st quarter income must be a LITTLE BIT GREATER than \$5

C) Industrial
2nd Quarter = \$5 (billion)
Percent change from 1st quarter = -1%

From this, we can see that the 1st quarter income must be a LITTLE BIT GREATER than \$5

D) Utilities
2nd Quarter = \$8.57 (billion)
Percent change from 1st quarter = +303%

Recognize that IF the 1st quarter income were \$2, and IF the percent change were +300%, then the 2nd quarter income would be \$8
Instead, 2nd quarter income is \$8.57, which means the 1st quarter income must be A LITTLE BIT GREATER than \$2

E) Conglomerates
2nd Quarter = \$2.07 (billion)
Percent change from 1st quarter = +10%

From this, we can see that the 1st quarter income must be LESS THAN \$2

Cheers,
Brent
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Re: The table below represents the combined net income of all United State  [#permalink]

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07 Sep 2019, 00:36
Nice official question.
We can use the approximation technique to get to the right answer.
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Re: The table below represents the combined net income of all United State   [#permalink] 07 Sep 2019, 00:36
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