In Country C, the unemployment rate among construction workers dropped from 16% on September 1, 1992 to 9% on September 1, 1996. If the number of construction workers was 20% greater on September 1, 1996, then on September 1, 1992, what was the approximate percent change in the number if unemployed construction workers over this period?
A) 50% decrease
B) 30% decrease
C) 15% decrease
D) 30% increase
E) 55% increase
Please help!
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Hi Amrabdelnaby,
This question can be solved by TESTing VALUES. You'll need to reorganize the information that you're given though (since it's offered 'out of order').
We're told that the NUMBER of construction workers was 20% greater in 1996 than in 1992.
Number of workers in '92 = 100
Number of workers in '96 = 120
We're told that the UNEMPLOYMENT RATE was 16% in 1992 and 9% in 1996. This allows us to figure out the NUMBER of unemployed workers...
Unemployed in '92 = 100(16%) = 16
Unemployed in '96 = 120(9%) = 10.8
The question asks for the APPROXIMATE Percent Change in the number of unemployed workers...
Percent Change = (New - Old)/Old = Difference/Original
With these numbers, we end up with...
(10.8 - 16)/16 = -5.2/16 = about -1/3 = about a 30% decrease
Final Answer: B
GMAT assassins aren't born, they're made,
Rich
This question can be solved by TESTing VALUES. You'll need to reorganize the information that you're given though (since it's offered 'out of order').
We're told that the NUMBER of construction workers was 20% greater in 1996 than in 1992.
Number of workers in '92 = 100
Number of workers in '96 = 120
We're told that the UNEMPLOYMENT RATE was 16% in 1992 and 9% in 1996. This allows us to figure out the NUMBER of unemployed workers...
Unemployed in '92 = 100(16%) = 16
Unemployed in '96 = 120(9%) = 10.8
The question asks for the APPROXIMATE Percent Change in the number of unemployed workers...
Percent Change = (New - Old)/Old = Difference/Original
With these numbers, we end up with...
(10.8 - 16)/16 = -5.2/16 = about -1/3 = about a 30% decrease
Final Answer: B
GMAT assassins aren't born, they're made,
Rich
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GMATinsight
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Let total worker on September 1, 1992 = 100Amrabdelnaby wrote:In Country C, the unemployment rate among construction workers dropped from 16% on September 1, 1992 to 9% on September 1, 1996. If the number of construction workers was 20% greater on September 1, 1996, then on September 1, 1992, what was the approximate percent change in the number if unemployed construction workers over this period?
A) 50% decrease
B) 30% decrease
C) 15% decrease
D) 30% increase
E) 55% increase
Please help!
then, total worker on September 1, 1996 = 100+20 = 120
Unemployed people on September 1, 1992 = 16% of 100 = 16
Unemployed people on September 1, 1996 = 9% of 120 = 10.8
% change = (10.8-16)*100/16 = -32.5% (Decrease)
Answer: Option B
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