GMAT Club Forum https://gmatclub.com:443/forum/ 

The total profit of corporation K was $3,400,000 in year X. What was https://gmatclub.com/forum/thetotalprofitofcorporationkwas3400000inyearxwhatwas324952.html 
Page 1 of 1 
Author:  Bunuel [ 23 May 2020, 06:17 ] 
Post subject:  The total profit of corporation K was $3,400,000 in year X. What was 
The total profit of corporation K was $3,400,000 in year X. What was the total profit in year Y ? (1) Income in year Y was 30 percent more than in year X. (2) Costs in year Y were 40 percent more than in year X. DS21269 
Author:  bM22 [ 23 May 2020, 10:03 ] 
Post subject:  Re: The total profit of corporation K was $3,400,000 in year X. What was 
Bunuel wrote: The total profit of corporation K was $3,400,000 in year X. What was the total profit in year Y ? (1) Income in year Y was 30 percent more than in year X. (2) Costs in year Y were 40 percent more than in year X. DS21269 Let Income in year X = I, Costs in year X = C. Statement 1: Income in year Y was 30 percent more than in year X. Income in year Y = 130I/100. Nothing is mentioned regarding the costs or profits in year Y. So we cannot calculate the profit. So Insufficient. Statement 2: Costs in year Y were 40 percent more than in year X. Cost in Year Y = 140C/100. Again an incomplete statement, since nothing is known about the income in either years. So the information is incomplete. Thus, Insufficient. Statement 1+ Statement 2: Income in year Y = 130I/100. Costs in Year Y = 140C/100. But since we don't know the values of C and I, we cannot calculate the profit in year Y. Also, we cannot say for sure, that only income  Cost can be calculated to deduce the profit. So overall the combination of the 2 statements is also Insufficient. Answer E. 
Author:  daprince [ 20 Sep 2020, 19:57 ] 
Post subject:  Re: The total profit of corporation K was $3,400,000 in year X. What was 
What threw me off in this question was that I assumed profit = income (a common term in accounting) 
Author:  ishita27 [ 20 Sep 2020, 21:31 ] 
Post subject:  Re: The total profit of corporation K was $3,400,000 in year X. What was 
The total profit of corporation K in year X is given. This means we know the difference between Income and Cost. (1) Income in year Y was 30 percent more than in year X. But we don't know the Income of year X, we only know the difference between Income and Cost INSUFFICIENT (2) Costs in year Y were 40 percent more than in year X. But we don't know the Cost of year X, we only know the difference between Income and Cost INSUFFICIENT Together also, we only know the difference and not the actual Income and Cost . Hence INSUFFICIENT E is the answer 
Author:  Basshead [ 26 Nov 2020, 17:12 ] 
Post subject:  Re: The total profit of corporation K was $3,400,000 in year X. What was 
Bunuel wrote: The total profit of corporation K was $3,400,000 in year X. What was the total profit in year Y ? (1) Income in year Y was 30 percent more than in year X. (2) Costs in year Y were 40 percent more than in year X. DS21269 total profit = income  costs $3,400,000 = I  C (1) Total profit in Year Y = 1.3I  C No information about costs in Year Y; INSUFFICIENT. (2) Total profit in Year Y = I  1.4C No information about income in Year Y; INSUFFICIENT. (1&2) Combined, we can make the following equation: Total profit in Year Y = I.3I  1.4C However, we can't determine neither the income or costs because we only know the total profit in Year X, not the specific amount of income or costs. INSUFFICIENT. 
Author:  Sarmadk5 [ 04 Dec 2022, 14:26 ] 
Post subject:  Re: The total profit of corporation K was $3,400,000 in year X. What was 
Bunuel wrote: The total profit of corporation K was $3,400,000 in year X. What was the total profit in year Y ? (1) Income in year Y was 30 percent more than in year X. (2) Costs in year Y were 40 percent more than in year X. DS21269 Statement 1, does not tell about total income of y . Just refers to percentage over X. Statement 2, tells only cost of Y more than X . In order to calculate total profit , There is no clue of initial investment of either X or Y. Thus , total profit of Year cannot be calculated from given data. Answer is E. Posted from my mobile device 
Page 1 of 1  All times are UTC  8 hours 
Powered by phpBB © phpBB Group http://www.phpbb.com/ 