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In the year 2000, olive oils made up just 40% of the liquid

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In the year 2000, olive oils made up just 40% of the liquid [#permalink] New post   02 Oct 2018, 12:27
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In the year 2000, olive oils made up just 40% of the liquid oils market, with standard oils taking 52% and speciality oils accounting for the remainder. But now, fueled by health concerns and a general move towards premium products, the tables have turned. Today, the olive oil sector is worth some $104 million and alone accounts for an estimated 51% of the total market.


Which of the following conclusions can most properly be drawn from the information above?

(A) In 2000, the total worth of the olive oil sector was less than $104 million.
(B) The total sales of the standard oils at present time are lower than their sales in 2000.
(C) Olive oil is healthier than all other liquid oils available in the market.
(D) The market share of the standard oils category today must have declined from what it was in 2000.
(E) The total worth of the specialty oil category today is higher than what it was in 2000.

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mou111
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Re: In the year 2000, olive oils made up just 40% of the liquid [#permalink] New post   08 Oct 2018, 07:25
A

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Re: In the year 2000, olive oils made up just 40% of the liquid [#permalink] New post   29 Nov 2020, 23:52
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We know that in '00 olive oil had 40% share of market, standard oil had 52% and speciality oils had 8% (rest of). We also know NOW that olive oil is worth $104 million and accounts for 51% of the market. We need to find an inference, i.e. must be true statement.

A- Total worth in '00 isn't given. Incorrect.
B- Again, total sales aren't mentioned for standard oils so we can not infer this.
C- Trap answer. All we know is olive oil has gained market share BECAUSE of health concerns and move to premium products. Whether olive oil is HEALTHIER is something that can not be surely said.
D- This is correct as we know olive oil= 51% so standard oil can not be 52%. What the exact percentage of standard oil is right now is not our concern.
E- Can't say anything about this.

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Re: In the year 2000, olive oils made up just 40% of the liquid [#permalink] New post   29 Sep 2021, 13:54
pprakash786 wrote:
D- This is correct as we know olive oil= 51% so standard oil can not be 52%. What the exact percentage of standard oil is right now is not our concern.

Thanks.

how did you know that standard oil has declined constantly since 2000 not yesterday
do you have a graph shows you that
therefore answer A is correct
becase as it mention in paragraph that today olive oil makes 104 so it was not reach this amount before
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Re: In the year 2000, olive oils made up just 40% of the liquid [#permalink] New post   29 Sep 2021, 19:20
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Sir,

You can't assume the market value. Here it talks in \(%\)age of market share. What if in \(2000\), the total market was \($ 500\) million? Then the olive oil sales would have been \($200\) million.

Hence, \(D\) is correct because it talks about market share. Now we know that olive oil share has increased so it means that the market share of the standard oils category today must have declined from what it was in 2000.


mustafaaldory079 wrote:
how did you know that standard oil has declined constantly since 2000 not yesterday
do you have a graph shows you that
therefore answer A is correct
becase as it mention in paragraph that today olive oil makes 104 so it was not reach this amount before
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