GRE Prep Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
From 1970 to 1975, the percent increase in the median price
[#permalink]
09 Oct 2019, 17:46
09 Oct 2019, 17:46
Expert Reply
00:00
Question Stats:
70% (00:59) correct
29% (01:16) wrong based on 62 sessions
Hide Show timer Statistics
Attachment:
#greprepclub From 1970 to 1975, the percent increase.jpg [ 305.29 KiB | Viewed 4235 times ]
From 1970 to 1975, the percent increase in the median price of new homes sold was closest to
(A) 15%
(B) 25%,
(C) 40%,
(D) 50%,
(E) 70%
Kudos for the right answer and explanation
Re: From 1970 to 1975, the percent increase in the median price
[#permalink]
09 Oct 2019, 22:44
09 Oct 2019, 22:44
1
Carcass wrote:
Attachment:
#greprepclub From 1970 to 1975, the percent increase.jpg
From 1970 to 1975, the percent increase in the median price of new homes sold was closest to
(A) 15%
(B) 25%,
(C) 40%,
(D) 50%,
(E) 70%
Kudos for the right answer and explanation
Here,
In 1970, median price of House sold = 22 thousand of Dollars
In 1975, median price of House sold = 38 thousand of Dollars
Therefore, the percent increase in the median price = \((\frac{{38 - 22 }}{22}) * 100 = 72\)% = approx \(70\) %
Re: From 1970 to 1975, the percent increase in the median price
[#permalink]
24 Oct 2019, 11:53
24 Oct 2019, 11:53
1
formula is percentage change = ((final value - initial value)/initial)*100
here final value is 1975 = 39000
initial value is = 1970 = 23000
sub in formula
= ((39000-23000)/23000)*100
= (0.6956)*100
= 69.56 nearly equal to 70%
here final value is 1975 = 39000
initial value is = 1970 = 23000
sub in formula
= ((39000-23000)/23000)*100
= (0.6956)*100
= 69.56 nearly equal to 70%
