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B
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Difficulty:
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Question Stats:
45% (02:53) correct
55%
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wrong
based on 148
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Rounded to the nearest thousand, the 2022-2023 revenues for Murtaugh Dynamics and O.R.E Machinery were $500,000 and $400,000, respectively. What was the combined 2022-2023 revenue for the two firms, rounded to the nearest thousand ?
(1) The exact revenue figures for Murtaugh Dynamics and O.R.E Machinery were each within 0.2% of the rounded figures.
(2) The approximate revenue for Murtaugh Dynamics was rounded up, while the approximate revenue for O.R.E Machinery was rounded down.
(1) The exact revenue figures for Murtaugh Dynamics and O.R.E Machinery were each within 0.2% of the rounded figures.
(2) The approximate revenue for Murtaugh Dynamics was rounded up, while the approximate revenue for O.R.E Machinery was rounded down.
23 Mar 2024, 05:59
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Gangadhar111990
This question has been inspired by an official question that appears in the Official Focused Ed. mocks
M.D. ⇒ Murtaugh Dynamics
O.R.E.M. ⇒ O.R.E Machinery
Given
\(499,500 \leq M.D. < 500,500\)
\(399,500 \leq O.R.E.M. < 400,500\)
Statement 1
(1) The exact revenue figures for Murtaugh Dynamics and O.R.E Machinery were each within 0.2% of the rounded figures.
0.2% of 500,000 = 1000
0.2% of 400,000 = 800
\(499,000 \leq M.D. < 501,000\)
\(399,200 \leq O.R.E.M. < 400,800\)
\(399,200 +499,000 \leq O.R.E.M. + M.D. < 400,800 + 501,000\)
\(898,200 \leq O.R.E.M. + M.D. < 901,800\)
We can have multiple possible values such as 899,000 or 900,000.
Hence, this statement alone is not sufficient to conclude the round revenues of the two firms.
Statement 2
(2) The approximate revenue for Murtaugh Dynamics was rounded up, while the approximate revenue for O.R.E Machinery was rounded down.
\(499,500 \leq M.D. < 500,000\)
\(400,001 \leq O.R.E.M. < 400,500\)
\(499,500 + 400,001 \leq O.R.E.M. + M.D. < 500,000 + 400,500\)
\(899,501 \leq O.R.E.M. + M.D. < 900,500\)
Hence, the rounded revenue is $900,000
This information is sufficient to answer the question.
Option B
15 Aug 2024, 22:37
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Rounded revenues (to the nearest thousand)):
- Murtaugh Dynamics: $500,000
- O.R.E Machinery: $400,000
Question: Total, rounded to nearest thousand
Statement (1): The exact revenue figures for Murtaugh Dynamics and O.R.E Machinery were each within 0.2% of the rounded figures.For Murtaugh Dynamics: $500,000 ± 0.2%
0.2% of $500,000 = $1,000
==> Range: $499,000 to $501,000
For O.R.E Machinery: $400,000 ± 0.2%
0.2% of $400,000 = $800
==> Range: $399,200 to $400,800
Combining these ranges:
Minimum combined revenue = $499,000 + $399,200 = $898,200 => rounded to the nearest thousand: $898,000
Maximum combined revenue = $501,000 + $400,800 = $901,800 => rounded to the nearest thousand: $902,000
Therefore, Statement (1) is not sufficient.
Statement (2): The approximate revenue for Murtaugh Dynamics was rounded up, while the approximate revenue for O.R.E Machinery was rounded down.
Murtaugh Dynamics' revenue rounded up to $500,000 => Range: $499,500 to $499,999
O.R.E Machinery's revenue rounded down to $400,000 => Range: $400,000 to $400,499
Combining these ranges:
Minimum combined revenue = $499,500 + $400,000 = $899,500 => rounded to the nearest thousand: $900,000
Maximum combined revenue = $499,999 + $400,499 = $900,498 => rounded to the nearest thousand: $900,000
Therefore, Statement (2) is sufficient.
Answer is B
- Murtaugh Dynamics: $500,000
- O.R.E Machinery: $400,000
Question: Total, rounded to nearest thousand
Statement (1): The exact revenue figures for Murtaugh Dynamics and O.R.E Machinery were each within 0.2% of the rounded figures.For Murtaugh Dynamics: $500,000 ± 0.2%
0.2% of $500,000 = $1,000
==> Range: $499,000 to $501,000
For O.R.E Machinery: $400,000 ± 0.2%
0.2% of $400,000 = $800
==> Range: $399,200 to $400,800
Combining these ranges:
Minimum combined revenue = $499,000 + $399,200 = $898,200 => rounded to the nearest thousand: $898,000
Maximum combined revenue = $501,000 + $400,800 = $901,800 => rounded to the nearest thousand: $902,000
Therefore, Statement (1) is not sufficient.
Statement (2): The approximate revenue for Murtaugh Dynamics was rounded up, while the approximate revenue for O.R.E Machinery was rounded down.
Murtaugh Dynamics' revenue rounded up to $500,000 => Range: $499,500 to $499,999
O.R.E Machinery's revenue rounded down to $400,000 => Range: $400,000 to $400,499
Combining these ranges:
Minimum combined revenue = $499,500 + $400,000 = $899,500 => rounded to the nearest thousand: $900,000
Maximum combined revenue = $499,999 + $400,499 = $900,498 => rounded to the nearest thousand: $900,000
Therefore, Statement (2) is sufficient.
Answer is B
