In 2015, Ashley invited 12% more people to her annual

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VJesus12: Legendary Member; Posts: 2276; Joined: Sat Oct 14, 2017 6:10 amFollowed by: 3 members

by VJesus12 » Sat Apr 20, 2019 3:12 am

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In 2015, Ashley invited 12% more people to her annual celebration than she did in 2014. If every subsequent year Ashley invites 10% more people to her annual celebration than she did the year before, then the number of people she invites in 2017 is approximately what percentage greater than the number of people she invited in 2014 ?

A. 22%
B. 32%
C. 35%
D. 48%
E. 135%

[spoiler]OA=C[/spoiler]

Source: Princeton Review

Source: Beat The GMAT — Problem Solving | Sat Apr 20, 2019 3:12 am

swerve: Legendary Member; Posts: 2604; Joined: Sun Oct 29, 2017 2:04 pmFollowed by: 6 members

by swerve » Sat Apr 20, 2019 10:10 am

Let's suppose she invited 100 people in 2014.

2015 = 1.12(100)
2016 = 112+ 0.1(112) = 123( ignore the decimals)
2017 = 123 + 0.1(123) = 135.

Approximately 35% greater, hence Option __C__.

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8246; Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members; Location: Los Angeles, CA; Thanked: 43 times

by Scott@TargetTestPrep » Thu Apr 25, 2019 5:51 pm

VJesus12 wrote:In 2015, Ashley invited 12% more people to her annual celebration than she did in 2014. If every subsequent year Ashley invites 10% more people to her annual celebration than she did the year before, then the number of people she invites in 2017 is approximately what percentage greater than the number of people she invited in 2014 ?

A. 22%
B. 32%
C. 35%
D. 48%
E. 135%

[spoiler]OA=C[/spoiler]

Source: Princeton Review

We can let n = the number of people Ashley invited in 2014. So we have:

2015 = 1.12n

2016 = 1.12n x 1.1

2017 = 1.12n x 1.1 x 1.1

So the percent increase is:

((1.12n x 1.1 x 1.1) - n)/n x 100

(1.12 x 1.1 x 1.1 - 1) x 100 ≈ 0.35 x 100 = 35%

Alternate Solution:

Let’s assume that Ashley invited 100 people to the celebration in 2014. Thus, in 2015, she invited 1.12 x 100 = 112 people. In 2016 she invited 1.1 x 112 ≈ 123 people, and in 2017 she invited 1.1 x 123 ≈ 135 people.

Using the percent change formula for the years 2017 and 2014, we have:

(135 - 100)/ 100 x 100% = 35%

Answer: C

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