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GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2506
Given Kudos: 1055
GPA: 3.39
For the first quarter of 1980, the profits of a certain food-market ch
[#permalink]
23 Dec 2022, 09:14
23 Dec 2022, 09:14
1
Expert Reply
00:00
Question Stats:
80% (01:40) correct
20% (00:25) wrong based on 5 sessions
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For the first quarter of 1980, the profits of a certain food-market chain amounted to $49,350,000. If this figure is 5 percent higher than the profits for the first quarter of 1979, what was the amount of the increase?
A. $350,000
B. $2,350,000
C. $2,467,500
D. $4,688,250
E. $4,700,000
A. $350,000
B. $2,350,000
C. $2,467,500
D. $4,688,250
E. $4,700,000
Re: For the first quarter of 1980, the profits of a certain food-market ch
[#permalink]
27 Dec 2022, 01:18
27 Dec 2022, 01:18
1
Expert Reply
Let the amount in 1979 be X
Then,
49350000= X(105/100)
X= (49350000 x 20) / 21
Instead of solving this keep going,
Difference between the two amounts=
(49350000 ) - ((49350000 x 20) / 21)
= ((49350000 x 21) / 21)) - ((49350000 x 20) / 21)
Take 4935000 in common which gives you
= (49350000 (21-20)) / 21)
= (49350000 x 1) / 21
As you can see the division is quite simple.
Ans: 2350000 (B)
Then,
49350000= X(105/100)
X= (49350000 x 20) / 21
Instead of solving this keep going,
Difference between the two amounts=
(49350000 ) - ((49350000 x 20) / 21)
= ((49350000 x 21) / 21)) - ((49350000 x 20) / 21)
Take 4935000 in common which gives you
= (49350000 (21-20)) / 21)
= (49350000 x 1) / 21
As you can see the division is quite simple.
Ans: 2350000 (B)
gmatclubot
Re: For the first quarter of 1980, the profits of a certain food-market ch [#permalink]
27 Dec 2022, 01:18
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