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In the beginning of the year, 35 percent of company Xs 120
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27 Nov 2023, 06:14
27 Nov 2023, 06:14
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Question Stats:
75% (01:38) correct
25% (02:32) wrong based on 4 sessions
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In the beginning of the year, 35 percent of company X’s 120 customers were retailers, and after the 24-month period, 25 percent of its 240 customers were retailers. What was the simple annual percent growth rate in the number of retailers?
(A) 14.28%
(B) 21.43%
(C) 24.0%
(D) 30.0%
(E) 37.25%
(A) 14.28%
(B) 21.43%
(C) 24.0%
(D) 30.0%
(E) 37.25%
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Re: In the beginning of the year, 35 percent of company Xs 120
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28 Nov 2023, 12:36
28 Nov 2023, 12:36
1
The answer is B.
Initial number of retailers = 120 * 0.35 = 42
Final number of retailers = 240 * 0.25 = 60
--> Increase = 60 - 42 = 18
SI = PRT/100
T = 24 months = 2 years
--> 18 = 42 * R * 2 / 100
--> R = 1800/84 = 21.43%
Initial number of retailers = 120 * 0.35 = 42
Final number of retailers = 240 * 0.25 = 60
--> Increase = 60 - 42 = 18
SI = PRT/100
T = 24 months = 2 years
--> 18 = 42 * R * 2 / 100
--> R = 1800/84 = 21.43%
gmatclubot
Re: In the beginning of the year, 35 percent of company Xs 120 [#permalink]
28 Nov 2023, 12:36
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