At the end of each year, the value of a certain antique watch is "c" percent more than its value one year earlier, where "c" has the same value each year. If the value of the watch was "k" dollars on January 1, 1992, and "m" dollars on January 1, 1994, then in terms of "m" and "k", what was the value of the watch, in dollars, on January 1, 1995?
A) m + 1/2(m-k)
B) m + 1/2((m-k)/k)) * m
C) (m√m)/√k
D) m²/2k;
E) km²
Let k=2.
Let c=200, implying that the value of the watch increases by 200% each year.
Thus:
Value in 1993 = 2 + (200/100)2 = 6.
Value in 1994 = 6 + (200/100)6 = 18. Thus, m=18.
Value in 1995 = 18 + (200/100)18 = 54.
The question stem asks for the value of the watch in 1995:
$54. This is our target.
Now we plug k=2 and m=18 into the answers to see which yields our target of 54.
Only
C works:
(m√m)/√k = (18√18)/√2 = 18√9 = 18*3 = 54.
The correct answer is
C.
Private tutor exclusively for the GMAT and GRE, with over 20 years of experience.
Followed here and elsewhere by over 1900 test-takers.
I have worked with students based in the US, Australia, Taiwan, China, Tajikistan, Kuwait, Saudi Arabia -- a long list of countries.
My students have been admitted to HBS, CBS, Tuck, Yale, Stern, Fuqua -- a long list of top programs.
As a tutor, I don't simply teach you how I would approach problems.
I unlock the best way for YOU to solve problems.
For more information, please email me (Mitch Hunt) at
[email protected].
Student Review #1
Student Review #2
Student Review #3
