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03 Oct 2025, 01:27
Kudos
Bookmarks
C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
93% (00:37) correct
7%
(00:32)
wrong
based on 124
sessions
History
Date
Time
Result
Not Attempted Yet
How much was a certain Rembrandt painting worth in January 1991?
(1) In January 1997 the painting was worth $2 million.
(2) Over the ten years 1988–1997 the painting increased in value by 10 percent each year.
(1) In January 1997 the painting was worth $2 million.
(2) Over the ten years 1988–1997 the painting increased in value by 10 percent each year.
03 Oct 2025, 01:38
Kudos
Bookmarks
Statement (1):
“In January 1997 the painting was worth $2 million.”
Gives value in 1997, but no growth rate.
Cannot calculate 1991 value without growth rate.
Not sufficient.
-----------------------------------------
Statement (2):
“Over the ten years 1988–1997 the painting increased in value by 10 percent each year.”
Gives annual growth rate, but not the actual dollar value in any year.
Cannot calculate 1991 value without a base year value.
Not sufficient.
------------------------------------------------------------
Combine (1) + (2):
We know value in 1997 ($2M).
We know it grew 10% per year (compounded annually).
To find 1991 value, we go back 6 years from 1997.
That gives an exact value.
Sufficient.
------------------------------------------------------------
Answer: C (Both statements together are sufficient, but alone neither is).
“In January 1997 the painting was worth $2 million.”
Gives value in 1997, but no growth rate.
Cannot calculate 1991 value without growth rate.
Not sufficient.
-----------------------------------------
Statement (2):
“Over the ten years 1988–1997 the painting increased in value by 10 percent each year.”
Gives annual growth rate, but not the actual dollar value in any year.
Cannot calculate 1991 value without a base year value.
Not sufficient.
------------------------------------------------------------
Combine (1) + (2):
We know value in 1997 ($2M).
We know it grew 10% per year (compounded annually).
To find 1991 value, we go back 6 years from 1997.
That gives an exact value.
Sufficient.
------------------------------------------------------------
Answer: C (Both statements together are sufficient, but alone neither is).
03 Oct 2025, 04:21
Kudos
Bookmarks
Bunuel
We need to find the price of certain Rembrandt’s painting in 1991.
Statement 1:
(1) In January 1997 the painting was worth $2 million.
This provides the price of painting in the year 1997. But, we need price at 1991. Hence, insufficient.
Statement 2:
(2) Over the ten years 1988–1997 the painting increased in value by 10 percent each year.
The price rise is 10% per year . Hence, insufficient.
Combining both statements 1 and 2, we get
if the price of painting in 1988 is x.
x * (11/10) ^9 = 2 million.
after finding x, it’s easier to find x * (11/10)^3 . Hence, sufficient.
Option C
