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Price of item

by harsh.champ » Wed Feb 17, 2010 5:35 am
If today the price of an item is $3,600, what was the price of the item exactly 2 years ago?
(1) The price of the item increased by 10 per-cent per year during this 2-year period.
(2) Today the price of the item is 1.21 times its price exactly 2 years ago.
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by ajith » Wed Feb 17, 2010 6:29 am
harsh.champ wrote:If today the price of an item is $3,600, what was the price of the item exactly 2 years ago?
(1) The price of the item increased by 10 per-cent per year during this 2-year period.
(2) Today the price of the item is 1.21 times its price exactly 2 years ago.
A. Sufficient = x*1.1*1.1 = 3600 => x=3600/1.21
B Sufficient = 1.21x = 3600 => x = 3600/1.21
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by shashank.ism » Sun Feb 21, 2010 6:50 pm
harsh.champ wrote:If today the price of an item is $3,600, what was the price of the item exactly 2 years ago?
(1) The price of the item increased by 10 per-cent per year during this 2-year period.
(2) Today the price of the item is 1.21 times its price exactly 2 years ago.
Let x be the price 2 years ago.
price today is $3600
St.1) 2years ago --> x, 1 year ago --> 1.1x, now --> 1.21 x
1.21x = 3600 --> x= $2975.20 ==========suff.

St.2) today price =1.21 x = 3600 --> x = $2975.20 ==========suff.
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