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# The value of an investment increased according to a variable annual ra

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Math Expert
Joined: 02 Sep 2009
Posts: 58046
The value of an investment increased according to a variable annual ra  [#permalink]

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20 Aug 2019, 02:12
00:00

Difficulty:

45% (medium)

Question Stats:

78% (01:13) correct 22% (01:55) wrong based on 9 sessions

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The value of an investment increased according to a variable annual rate such that its value in 2006 was 1.43 times its value in 1998. What was the value of the investment in 1998?

(1) The value was \$373.80 more in 2006 than in 1998.

(2) The value of the investment was \$1243.11 in 2006.

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Re: The value of an investment increased according to a variable annual ra  [#permalink]

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20 Aug 2019, 04:07
Bunuel wrote:
The value of an investment increased according to a variable annual rate such that its value in 2006 was 1.43 times its value in 1998. What was the value of the investment in 1998?

(1) The value was \$373.80 more in 2006 than in 1998.

(2) The value of the investment was \$1243.11 in 2006.

given
1998 = x and 2006 ; 1.43x
#1
The value was \$373.80 more in 2006 than in 1998.
1.43x=373.8+x
solve for x ; 869 sufficient
#2
The value of the investment was \$1243.11 in 2006.[/quote]
1.43x=1243.11
x= 869
sufficient
IMO D
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Re: The value of an investment increased according to a variable annual ra  [#permalink]

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20 Aug 2019, 05:05
Bunuel wrote:
The value of an investment increased according to a variable annual rate such that its value in 2006 was 1.43 times its value in 1998. What was the value of the investment in 1998?

(1) The value was \$373.80 more in 2006 than in 1998.

(2) The value of the investment was \$1243.11 in 2006.

Given: The value of an investment increased according to a variable annual rate such that its value in 2006 was 1.43 times its value in 1998.

Asked: What was the value of the investment in 1998?

Let us assume that the value of the investment in 1998 be x.

(1) The value was \$373.80 more in 2006 than in 1998.
1.43x - x = \$373.8
x = 373.8/.43 = \$869.3
SUFFICIENT

(2) The value of the investment was \$1243.11 in 2006.
1.43x = \$1243.11
x = 1243.11/1.43 = \$869.3
SUFFICIENT

IMO D
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Re: The value of an investment increased according to a variable annual ra   [#permalink] 20 Aug 2019, 05:05
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