The population of Greenvale increases by 10 percent each year. Assuming constant growth, how many people will be living in Greenvale at the end of this year?
(1) Over a two-year period, the population growth in Greenvale is 21 percent.
(2) At the beginning of last year, there were 10,000 people living in Greenvale.
Let's look at each statement individually and then at both of them together (if required):
Statement 1: Over a two-year period, the population growth in Greenvale is 21 percent.
While this statement gives us the growth rate in Greenvale over a two-year period, we do not know anything about the exact population numbers, in order for us to calculate the number of people living in Greenvale at the end of this year.
Hence, Statement 1 is insufficient alone.
Now, let's take a look at Statement 2 closely:
Statement 2: At the beginning of last year, there were 10,000 people living in Greenvale.
Okay, so this statement gives us the number of people living in Greenvale at the beginning of last year. As the population of Greenvale increases by 10 percent each year, at the end of last year OR at the beginning of this year, the total number of people living in Greenvale = 10,000*1.1 = 11,000
So, the number of people in Greenvale at the end of this year = 11,000*1.1 = 12,100
Thus, using Statement 2 alone we can determine the answer.
Hence, the correct answer is
Option B - Statement (2) alone is sufficient, but statement (1) alone is not sufficient.
Hope this helps!