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

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Bunuel
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The value of an investment increased according to a variable annual ra [#permalink] New post   20 Aug 2019, 02:12
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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] New post   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] New post   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] New post   19 Sep 2019, 01:57
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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.


Official Explanation



We have an investment with two values. Where N and T stand for the values of this investment now and then, we can write N = 1.43T. We could get sufficient information in the form of a distinct equation with these two variables. On to the data statements, separately first.

Statement (1) tells us that T + 373.8 = N. We have a second equation and two variables, so we can solve completely. Sufficient.

Statement (2) tells us that N = $1243.11. Again, this allows us to solve for T. Sufficient.

The correct answer is (D).
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Re: The value of an investment increased according to a variable annual ra [#permalink] New post   19 Sep 2019, 01:58
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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.


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Re: The value of an investment increased according to a variable annual ra [#permalink]
19 Sep 2019, 01:58
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Bunuel
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