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Jazz and blues recordings accounted for 6 percent

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jjjinapinch Senior | Next Rank: 100 Posts Default Avatar
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Jazz and blues recordings accounted for 6 percent

Post Tue Aug 08, 2017 7:33 am
Jazz and blues recordings accounted for 6 percent of the $840 million revenue from the sales of recordings in Country Y in 2000. What was the revenue from the sales of jazz and blues recordings in Country Y in 1998?

(1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998
(2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000

Official Guide question
Answer: B

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Post Fri Dec 08, 2017 7:33 am
jjjinapinch wrote:
Jazz and blues recordings accounted for 6 percent of the $840 million revenue from the sales of recordings in Country Y in 2000. What was the revenue from the sales of jazz and blues recordings in Country Y in 1998?

(1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998
(2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000
We are given that the revenue from the sales of jazz and blues in 2000 accounted for 0.06 x (840 million) = 50.4 million dollars in revenue. We need to determine the revenue from the sales of jazz and blues in 1998.

Statement One Alone:

Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998.

Since we do not have any information about the total revenue in 1998, statement one alone is not sufficient to answer the question. We can eliminate answer choices A and D.

Statement Two Alone:

The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000.

Using the information given and statement two, we can determine the revenue from sales of jazz and blues in 1998. If we let the revenue from sales of jazz and blues in 1998 = R, we can create the following equation:

1.4R = 50.4 million

R = (50.4 million)/1.4

R = 36 million

Statement two alone is sufficient to answer the question.

Answer: B

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Post Thu Aug 10, 2017 11:14 am
Hi jjjinapinch,

We're told that Jazz and blues recordings accounted for 6 percent of the $840 million revenue from the sales of recordings in Country Y in 2000. We're asked for the revenue from the sales of jazz and blues recordings in Country Y in 1998.

1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998

While Fact 1 tells us the PERCENT of the revenue that Jazz and blues recordings represented in 1998, we don't know the TOTAL sales figures in 1998. Thus, we have no way to answer the question.
Fact 1 is INSUFFICIENT

2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000

With the information in Fact 2, we can create the following equation:
(1.4)(Sales of Jazz and blues in 1998) = (.06)($840 million)

This is one variable and one equation, so we CAN solve for what the question asks for (and we don't have to perform the calculation to know that).
Fact 2 is SUFFICIENT

Final Answer: B

GMAT assassins aren't born, they're made,
Rich

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