If this year there are 1,500 fewer Insurance Z consumers than last yea

Question

If this year there are 1,500 fewer Insurance Z consumers than last year, by what percent has the number of Insurance Z consumers decreased from last year to this year?

(1) There were 1.5 times as many Insurance Z consumers last year than this year.

(2) The number of Insurance Z consumers this year is 3,000.

This is a  Data Sufficiency Butler Question

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Ash381 · Answer

To find: Percentage decrease.

Formula for % decrease: (old-new)/old * 100 
ex: from 100 to 90, ((100-90)/100) * 100 = 10%.

By examining the formula, we can determine that we will either require the  new-to-old ratio or the specific values of both new and old .

Statement 1: There were 1.5 times as many Insurance Z consumers last year than this year.
This gives us the ratio of old/new = 1.5 . Taking its reciprocal, we get new/old = 2/3.

With this information, we CAN find the percentage decrease. (1-(new/old))*100. Hence, Sufficient.

Statement 2: The number of Insurance Z consumers this year is 3,000.
This statement provides us this count of consumers this year. To find the count of consumers last year, we can use the information given to us in the question. "1500 fewer than last year". 
We now know both the new and old values. This is sufficient information for us to calculate percentage decrease. Hence, Sufficient.

Final answer, D

uyenpham · Answer

I do not see the details of ABCD, what's wrong with my account?

Bunuel · Answer

Hi,

This is a data sufficiency question. Options for DS questions are always the same.

The data sufficiency problem consists of a question and two statements, labeled (1) and (2), in which certain data are given. You have to decide whether the data given in the statements are sufficient for answering the question. Using the data given in the statements, plus your knowledge of mathematics and everyday facts (such as the number of days in July or the meaning of the word counterclockwise), you must indicate whether—

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.
C. BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.
D. EACH statement ALONE is sufficient to answer the question asked.
E. Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.

I suggest you to go through the following post  ALL YOU NEED FOR QUANT .

Hope this helps.

If this year there are 1,500 fewer Insurance Z consumers than last yea

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GMAT Data Sufficiency (DS) Questions

If this year there are 1,500 fewer Insurance Z consumers than last yea

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615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

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