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Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million
(B) $15 million
(C) $18 million
(D) $27 million
(E) $30 million
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(A) $13.5 million
(B) $15 million
(C) $18 million
(D) $27 million
(E) $30 million
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SOLUTION
Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million
(B) $15 million
(C) $18 million
(D) $27 million
(E) $30 million
150 percent greater is (1 + 150/100) = 2.5 times greater (the same way as 10% greater is (1+10/100)=1.1 times greater or the same way as 100% greater is (1+100/100)=2 times greater or the same way as 5% greater is (1+5/100)=1.05 times greater).
Earnings this year = 12*2.5 = 30.
Answer: E.
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Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million
(B) $15 million
(C) $18 million
(D) $27 million
(E) $30 million
150 percent greater is (1 + 150/100) = 2.5 times greater (the same way as 10% greater is (1+10/100)=1.1 times greater or the same way as 100% greater is (1+100/100)=2 times greater or the same way as 5% greater is (1+5/100)=1.05 times greater).
Earnings this year = 12*2.5 = 30.
Answer: E.
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General Discussion
150% is equivalent to 1.50.
So 12(1.50) = 18 increase over last year.
12 + 18 = 30.
Which is (E).
Posted from my mobile device
So 12(1.50) = 18 increase over last year.
12 + 18 = 30.
Which is (E).
Posted from my mobile device
Ans.E
150% increase=1.5 times increase
12* 1.5=18 mill. increase
Total=12+18=30 million.
150% increase=1.5 times increase
12* 1.5=18 mill. increase
Total=12+18=30 million.
arunspanda
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Posts: 127
Company K's earnings were $12 million last year. If this year's earnings are projected to be 150 percent greater than last year's earnings, what are Company K's projected earnings this year?
(A) $13.5 million
(B) $15 million
(C) $18 million
(D) $27 million
(E) $30 million
\(Projected Earning = This year Earning * (1 + \frac{150}{100})=$12 Million *(2.5) = $ 30 Million\)
Answer: (E)
(A) $13.5 million
(B) $15 million
(C) $18 million
(D) $27 million
(E) $30 million
\(Projected Earning = This year Earning * (1 + \frac{150}{100})=$12 Million *(2.5) = $ 30 Million\)
Answer: (E)
150% increase = 12million*2.5 = 30million
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Posts: 386
150% greater means original + 1.5 times the original = 2.5 * original
Earnings last year = $12 million
Earnings this year = 2.5 * 12 = $30 million
correct answer - E
Earnings last year = $12 million
Earnings this year = 2.5 * 12 = $30 million
correct answer - E
mbaapp1234
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Bunuel
It's import to remember that a percent increase is not the same as a percent of a quantity.
Let x = 100
% | Percent of 100 | Percent growth of 100
0 | 0 | 100
50 | 50 | 150
100 | 100 | 200
150 | 150 | 250
So percent growth is (100% + percent growth rate) * original quantity
In this case, 12*2.5 = 30.
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Expert reply
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Bunuel
Since this year's earnings are projected to be 150% greater than last year’s earnings of 12 million, this year's earnings are projected to be 2.5(12) = 30 million dollars.
Answer: E
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Here's Another way to do this
150% Increase from original means = Original + 150% of Original = Original + 100% Original + 50% Original = Original + Original + Original/2
In this case its 12 + 12 + 12/6 = 24+6 = 30 Million
150% Increase from original means = Original + 150% of Original = Original + 100% Original + 50% Original = Original + Original + Original/2
In this case its 12 + 12 + 12/6 = 24+6 = 30 Million
Abhishek009
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GPA: 3.5
WE:Business Development (Commercial Banking)
Posts: 5,881
Bunuel
150% = 100% + 50%
150% of 12 million = 100% of 12 million + 50% of 12 Million
Or, 150% of 12 million = 12 million + 6 Million
Or, 150% of 12 million = 18 million
Thus, answer must be (C)
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Erjan_S
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Abhishek009
I followed the same logic and had C. Moreover, I am sure that most of financial managers reading would immediately come up with 18 million and not 30 millions. But it seems it is GMAT logic that works like this...
niks18 pushpitkc pikolo2510
Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested
Did Erjan_S Abhishek009 forget to add 100% ie 12 to 18 as Bunuel suggested
adkikani
Hi adkikani
what they did was simply 150% of Earnings. But the question states that the Earnings greater by 150%
so new earning = Old earning +150% of Old Earning
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Bunuel
150% = 3/2 , 150% more = \(1 + \frac{3}{2} = > \frac{5}{2}\)
So, estimated value of Company K's projected earnings will be \(\frac{5}{2}*12 =>30\), Answer must be (E)
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