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GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2508
Given Kudos: 1053
GPA: 3.39
Last year, sales at Company X were 10% greater in February than in Jan
[#permalink]
31 Mar 2022, 09:43
31 Mar 2022, 09:43
Expert Reply
00:00
Question Stats:
50% (02:04) correct
50% (03:33) wrong based on 2 sessions
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Last year, sales at Company X were 10% greater in February than in January, 15% less in March than in Feb, 20% greater in April than in March, 10% less in May than in April, and 5% greater in June than in May. In which month were sales closest to Jan?
a. Feb
b. Mar
c. Apr
d. May
e. June
a. Feb
b. Mar
c. Apr
d. May
e. June
GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2508
Given Kudos: 1053
GPA: 3.39
Last year, sales at Company X were 10% greater in February than in Jan
[#permalink]
08 Apr 2022, 03:27
08 Apr 2022, 03:27
1
Expert Reply
Explanation
This is a problem of successive percentage change
So if there is a percentage change by a% and then by b%, the resultant % change is given by the formula-
Resultant % change = a + b + \(\frac{( a * b )}{100}\)
For Feb ;
Resultant % change = 10 % ---- (Given)
Till Mar ; (15% less)
Resultant % change = 10 + (-15) + \(\frac{(10 * (-15))}{100}\) = -6.5%
Similarly,
Till Apr ; (20% greater)
Resultant % change = -6.5 + 20 + \(\frac{((-6.5) * 20)}{100}\) = 13.5 - 1.3 ~ 12 %
Till May ; (10% less)
Resultant % change = 12 + (-10) + \(\frac{(12 * (-10))}{100}\) = 0.8 %
Till Jun ; (5% greater)
Resultant % change = 0.8 + 5 + \(\frac{(0.8 * 5)}{100}\) = 6.xx %
So , Least change is in May (0.8%) ... Ans : D
This is a problem of successive percentage change
So if there is a percentage change by a% and then by b%, the resultant % change is given by the formula-
Resultant % change = a + b + \(\frac{( a * b )}{100}\)
For Feb ;
Resultant % change = 10 % ---- (Given)
Till Mar ; (15% less)
Resultant % change = 10 + (-15) + \(\frac{(10 * (-15))}{100}\) = -6.5%
Similarly,
Till Apr ; (20% greater)
Resultant % change = -6.5 + 20 + \(\frac{((-6.5) * 20)}{100}\) = 13.5 - 1.3 ~ 12 %
Till May ; (10% less)
Resultant % change = 12 + (-10) + \(\frac{(12 * (-10))}{100}\) = 0.8 %
Till Jun ; (5% greater)
Resultant % change = 0.8 + 5 + \(\frac{(0.8 * 5)}{100}\) = 6.xx %
So , Least change is in May (0.8%) ... Ans : D
gmatclubot
Last year, sales at Company X were 10% greater in February than in Jan [#permalink]
08 Apr 2022, 03:27
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