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The total of company C's assets in 1994 was 300% greater

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The total of company C's assets in 1994 was 300% greater

by AAPL » Sat Feb 23, 2019 8:01 am

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The total of company C's assets in 1994 was 300% greater than the total in 1993, which in turn was 400% greater than the total in 1992. If the total of company C's assets in 1992 was N dollars, which one of the following represents company C's assets in 1994:

A. 7N
B. 8N
C. 9N
D. 12N
E. 20N

OA E
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by GMATGuruNY » Sat Feb 23, 2019 8:24 am
AAPL wrote:GMAT Prep

The total of company C's assets in 1994 was 300% greater than the total in 1993, which in turn was 400% greater than the total in 1992. If the total of company C's assets in 1992 was N dollars, which one of the following represents company C's assets in 1994:

A. 7N
B. 8N
C. 9N
D. 12N
E. 20N
Let N dollars in 1992 = 1.

Since the assets in 1993 are 300% greater than the N dollars in 1992, the assets in 1993 = 1 + (300% of 1) = 1+3 = 4.
Since the assets in 1994 are 400% greater than the assets in 1993, the assets in 1994 = 4 + (400% of 4) = 4 + 16 = 20.

The question stem asks for the assets in 1994.
Thus, the correct answer must yield a value of 20 when N=1.
Only E works:
20N = 20*1 = 20.

The correct answer is E.
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by Brent@GMATPrepNow » Sat Feb 23, 2019 8:59 am
AAPL wrote:The total of company C's assets in 1994 was 300% greater than the total in 1993, which in turn was 400% greater than the total in 1992. If the total of company C's assets in 1992 was N dollars, which one of the following represents company C's assets in 1994:

A. 7N
B. 8N
C. 9N
D. 12N
E. 20N
The total of company C's assets in 1992 was N dollars

Company C's assets in 1993 was 400% greater than the total in 1992
So, 1993 assets = (1992 assets) + (400% of 1992 assets)
= (N) + (400% of N)
= (N) + (400/100 x N)
= N + 4N
= 5N

Company C's assets in 1994 was 300% greater than the total in 1993,
So, 1994 assets = (1993 assets) + (300% of 1993 assets)
= (5N) + (300% of 5N)
= (5N) + (300/100 x 5N)
= (5N) + (15N)
= 20N

Answer: E

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Brent
Brent Hanneson - Creator of GMATPrepNow.com
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