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Difficulty:
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The value of a painting was $7000 on may 5, 1970 and $12,000 on may 5, 1975. What was the value of the painting on may 5, 1972?
(1) The value of the painting on May 5,1972, was 20 percent greater than its value on May 5, 1970.
(2) The Value of the painting on May 5,1975, was $4,200 greater than its value on May 5,1972
(1) The value of the painting on May 5,1972, was 20 percent greater than its value on May 5, 1970.
(2) The Value of the painting on May 5,1975, was $4,200 greater than its value on May 5,1972
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11 Mar 2015, 22:23
Kudos
Bookmarks
Hi zatspeed,
I believe that this prompt has a typo in it (which I'll get to in a moment). This question comes down to organization and basic Arithmetic.
We're given the value of a painting on two dates:
1) $7,000 on May 5, 1970
2) $12,000 on May 5, 1975
We're asked for the value of the painting on May 5, 1972.
Fact 1: The value of the painting on May 5,1972, was 20 percent greater than its value on May 5, 1970.
Since the value on May 5, 1972 was 20% greater than $7,000, we can calculate the value....
(1.2)($7,000)
While you don't have to do this math (you KNOW that you can get the value), it's just multiplication. The answer is $8,400.
Fact 1 is SUFFICIENT
Fact 2: The Value of the painting on May 5,1975, was $4,200 greater than its value on May 5,1972
Here, we have to work backwards from the value on 1975. We're told that it's $4,200 greater than on May 5, 1972....we can calculate this value too....
$12,000 - $4,200 = $7,800
Fact 2 is SUFFICIENT
NOTE: When both Facts are individually sufficient, they will both point to the SAME answer. These Facts, while both sufficient, point to different answers. So there's an error in here somewhere.
Final Answer:
GMAT assassins aren't born, they're made,
Rich
I believe that this prompt has a typo in it (which I'll get to in a moment). This question comes down to organization and basic Arithmetic.
We're given the value of a painting on two dates:
1) $7,000 on May 5, 1970
2) $12,000 on May 5, 1975
We're asked for the value of the painting on May 5, 1972.
Fact 1: The value of the painting on May 5,1972, was 20 percent greater than its value on May 5, 1970.
Since the value on May 5, 1972 was 20% greater than $7,000, we can calculate the value....
(1.2)($7,000)
While you don't have to do this math (you KNOW that you can get the value), it's just multiplication. The answer is $8,400.
Fact 1 is SUFFICIENT
Fact 2: The Value of the painting on May 5,1975, was $4,200 greater than its value on May 5,1972
Here, we have to work backwards from the value on 1975. We're told that it's $4,200 greater than on May 5, 1972....we can calculate this value too....
$12,000 - $4,200 = $7,800
Fact 2 is SUFFICIENT
NOTE: When both Facts are individually sufficient, they will both point to the SAME answer. These Facts, while both sufficient, point to different answers. So there's an error in here somewhere.
Final Answer:
GMAT assassins aren't born, they're made,
Rich
11 Mar 2015, 23:12
Kudos
Bookmarks
EMPOWERgmatRichC
Hi zatspeed,
I believe that this prompt has a typo in it (which I'll get to in a moment). This question comes down to organization and basic Arithmetic.
We're given the value of a painting on two dates:
1) $7,000 on May 5, 1970
2) $12,000 on May 5, 1975
We're asked for the value of the painting on May 5, 1972.
Fact 1: The value of the painting on May 5,1972, was 20 percent greater than its value on May 5, 1970.
Since the value on May 5, 1972 was 20% greater than $7,000, we can calculate the value....
(1.2)($7,000)
While you don't have to do this math (you KNOW that you can get the value), it's just multiplication. The answer is $8,400.
Fact 1 is SUFFICIENT
Fact 2: The Value of the painting on May 5,1975, was $4,200 greater than its value on May 5,1972
Here, we have to work backwards from the value on 1975. We're told that it's $4,200 greater than on May 5, 1972....we can calculate this value too....
$12,000 - $4,200 = $7,800
Fact 2 is SUFFICIENT
NOTE: When both Facts are individually sufficient, they will both point to the SAME answer. These Facts, while both sufficient, point to different answers. So there's an error in here somewhere.
Final Answer:
GMAT assassins aren't born, they're made,
Rich
I believe that this prompt has a typo in it (which I'll get to in a moment). This question comes down to organization and basic Arithmetic.
We're given the value of a painting on two dates:
1) $7,000 on May 5, 1970
2) $12,000 on May 5, 1975
We're asked for the value of the painting on May 5, 1972.
Fact 1: The value of the painting on May 5,1972, was 20 percent greater than its value on May 5, 1970.
Since the value on May 5, 1972 was 20% greater than $7,000, we can calculate the value....
(1.2)($7,000)
While you don't have to do this math (you KNOW that you can get the value), it's just multiplication. The answer is $8,400.
Fact 1 is SUFFICIENT
Fact 2: The Value of the painting on May 5,1975, was $4,200 greater than its value on May 5,1972
Here, we have to work backwards from the value on 1975. We're told that it's $4,200 greater than on May 5, 1972....we can calculate this value too....
$12,000 - $4,200 = $7,800
Fact 2 is SUFFICIENT
NOTE: When both Facts are individually sufficient, they will both point to the SAME answer. These Facts, while both sufficient, point to different answers. So there's an error in here somewhere.
Final Answer:
GMAT assassins aren't born, they're made,
Rich
This is a simple question, not sure how I got this wrong during the test lol. Thank you
I copied the question exactly as it showed on a GMAT prep test.
