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What was the percent increase in the value of a certain antique from
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22 Dec 2014, 08:43
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Question Stats:
85% (00:37) correct 15% (00:39) wrong based on 126 sessions
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Tough and Tricky questions: Word Problems.
What was the percent increase in the value of a certain antique from January 1, 1981, to December 31, 1981?
(1) The value of the antique on January 1, 1981, was $3,000. (2) The value of the antique on December 31, 1981, was double the value of the antique on January 1,1981.
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22 Dec 2014, 08:50
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Solution: Determine a) the value of antique as on Jan 1 and Dec 31 or b) ratio of value as on Jan 1 and Dec 31
Statement 1: The value of the antique on January 1, 1981, was $3,000 We only know the value as on Jan 1, but not as on Dec 31 - Insufficient
Statement 2: The value of the antique on December 31, 1981, was double the value of the antique on January 1,1981 We know the ratio of value as on Jan 1 and Dec 31 (100% rise) - Sufficient
Answer B
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Re: What was the percent increase in the value of a certain antique from
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23 Dec 2014, 06:00
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Bunuel wrote:
Tough and Tricky questions: Word Problems.
What was the percent increase in the value of a certain antique from January 1, 1981, to December 31, 1981?
(1) The value of the antique on January 1, 1981, was $3,000. (2) The value of the antique on December 31, 1981, was double the value of the antique on January 1,1981.
Kudos for a correct solution.
St-1 not sufficient as value or ratio/percentage at Dec 31, 1981 is not present St-2 is sufficient. Amount doubled means 100% increase.
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23 Dec 2014, 11:38
Bunuel wrote:
Tough and Tricky questions: Word Problems.
What was the percent increase in the value of a certain antique from January 1, 1981, to December 31, 1981?
(1) The value of the antique on January 1, 1981, was $3,000. (2) The value of the antique on December 31, 1981, was double the value of the antique on January 1,1981.
Kudos for a correct solution.
1. We dont know the value on Dec 31 - Not sufficient to find the percent increase 2. Since it is double during the time frame, the percent increase is 100% - Sufficient
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24 Dec 2014, 08:17
Bunuel wrote:
Tough and Tricky questions: Word Problems.
What was the percent increase in the value of a certain antique from January 1, 1981, to December 31, 1981?
(1) The value of the antique on January 1, 1981, was $3,000. (2) The value of the antique on December 31, 1981, was double the value of the antique on January 1,1981.
Re: What was the percent increase in the value of a certain antique from
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18 Apr 2018, 06:32
Top Contributor
Bunuel wrote:
Tough and Tricky questions: Word Problems.
What was the percent increase in the value of a certain antique from January 1, 1981, to December 31, 1981?
(1) The value of the antique on January 1, 1981, was $3,000. (2) The value of the antique on December 31, 1981, was double the value of the antique on January 1,1981.
Kudos for a correct solution.
Target question:What was the percent increase in the value of a certain antique from January 1, 1981, to December 31, 1981?
Percent increase = 100(new - old)/old So, we can answer the target question if we have the OLD value and the NEW value.
Statement 1: The value of the antique on January 1, 1981, was $3,000. Okay, so we have the OLD value, but we don't know the NEW value. So, we don't have enough info to answer the target question Statement 1 is NOT SUFFICIENT
Statement 2: The value of the antique on December 31, 1981, was double the value of the antique on January 1, 1981. Although we aren't given specific numbers for the OLD value and NEW value, we still have enough information. Here's why: Let x = the value of December 31, 1981 This means 2x = the value on January 1, 1981
When we apply the above formula, we get: percent increase = 100(2x - x)/x = 100x/x = 100 So, the answer to the target question is 100 percent Since we can answer the target question with certainty, statement 2 is SUFFICIENT
Answer: B
Cheers, Brent
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85% (00:37) correct 
