Jazz and blues recordings accounted for 6 percent of the

Expert replies

Previous Topic Next Topic

BTGmoderatorLU: Moderator; Posts: 2589; Joined: Sun Oct 15, 2017 1:50 pmFollowed by: 6 members

by BTGmoderatorLU » Thu Oct 25, 2018 2:03 pm

Timer

00:00

Answers

Stats

Difficulty—

Source: Official Guide

Jazz and blues recordings accounted for 6 percent of the $840 million revenue from the sales of recordings in Country Y in 2000. What was the revenue from the sales of jazz and blues recordings in Country Y in 1998?

1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998.
2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000.

The OA is B.

Like this post

Source: Beat The GMAT — Data Sufficiency | Thu Oct 25, 2018 2:03 pm

GMAT/MBA Expert

Jay@ManhattanReview: GMAT Instructor; Posts: 3008; Joined: Mon Aug 22, 2016 6:19 amFollowed by: 34 members; Location: Grand Central / New York; Thanked: 470 times

by Jay@ManhattanReview » Thu Oct 25, 2018 10:34 pm

BTGmoderatorLU wrote:Source: Official Guide

Jazz and blues recordings accounted for 6 percent of the $840 million revenue from the sales of recordings in Country Y in 2000. What was the revenue from the sales of jazz and blues recordings in Country Y in 1998?

1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998.
2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000.

The OA is B.

Revenue from the sales of jazz and blues recordings in 2000 = 6% of 840 = X; there is no need to calculate the value as of now. However, don't assume that X is a variable, it as a constant.

We have to the revenue from the sales of jazz and blues recordings in 1998.

Let's take each statement one by one.

1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998.

Since the revenue from the sales of recordings in Country Y in 1998 is not known, we can't get the revenue from the sales of jazz and blues recordings in 1998. Insufficient.

2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000.

=> Revenue from the sales of jazz and blues recordings in 1998 = X / (1 + 40%) = X/1.4; there is no need to calculate the value since X is a constant; we will a get value of X/1.4. Sufficient.

The correct answer: B

Hope this helps!

-Jay
_________________
Manhattan Review GMAT Prep

Locations: Hyderabad | Kukatpally | Bangalore | Anna Nagar | and many more...

Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.

Like this post

GMATGuruNY: GMAT Instructor; Posts: 15539; Joined: Tue May 25, 2010 12:04 pmFollowed by: 1906 members; Location: New York, NY; Thanked: 13060 times; GMAT Score:790

by GMATGuruNY » Fri Oct 26, 2018 5:19 am

BTGmoderatorLU wrote:Source: Official Guide

Jazz and blues recordings accounted for 6 percent of the $840 million revenue from the sales of recordings in Country Y in 2000. What was the revenue from the sales of jazz and blues recordings in Country Y in 1998?

1) Jazz and blues recordings accounted for 5 percent of the revenue from the sales of recordings in Country Y in 1998.
2) The revenue from the sales of jazz and blues recordings in Country Y increased by 40 percent from 1998 to 2000.

Let J = jazz and blues revenue in 1998.

Statement 1:
Case 1: Total revenue in 1998 = 100
In this case, J = 5% of 100 = 5.
Case 2: Total revenue in 1998 = 1000
In this case, J = 5% of 1000 = 50.
Since J can be different values, INSUFFICIENT.

Statement 2:
In other words:
(jazz and blues revenue in 2000)/J = 140/100 = 7/5.
Since jazz and blues revenue in 2000 = 6% of $840 million, we get:
(6% of $840 million)/J = 7/5.
The resulting equation can be solved for J.
SUFFICIENT.

The correct answer is B.

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

Like this post

deloitte247: Legendary Member; Posts: 2214; Joined: Fri Mar 02, 2018 2:22 pmFollowed by: 5 members

by deloitte247 » Fri Oct 26, 2018 4:00 pm

Given that;
Revenue from sales of Jazz and blues records in year 2000 = $$6\%\ of\ \ 860million$$
= $$\frac{6}{100}\cdot840million=540million\ in\ revenue$$
What was the revenue from the sales of Jazz and blues recordings in the country Y in 1998?

Statement 1
Jazz and blues recordings accounted for 5% of the revenue from the sales of recordings in country Y in 1998, then statement 1 is INSUFFICIENT.

Statement 2
The revenue from the sales of Jazz and blues recordings in the country Y increased by 40% from 1998 to 2000
This means revenue in the year 2000 is greater than revenue in the year 1998 by 40%.
$$Let\ the\ revenue\ in\ the\ year\ 1998\ from\ the\ salse\ of\ jazz\ and\ blues\ recording\ in\ 1998\ =R$$
$$140\%\ of\ R=50.4\ million\ $$
$$\frac{140}{100}\cdot R=50.4million$$
$$\frac{1.4R}{1.4}=\frac{50.4}{1.4}million$$
$$R=36million$$
$$statement\ 2\ is\ INSUFFICIENT$$
$$answer\ is\ option\ B$$

Like this post

Post new topic Post Reply

• Page 1 of 1

GMAT Course Reviews

560 reviews

1168 reviews

431 reviews

359 reviews

147 reviews

5/5

5 Star (560 Reviews)

"Target Test Prep is the closest to the official version of the GMAT exam, about 99% accuracy in terms of the quality and quantity of information. The course has excellently created singular sets of focused lessons and tests for every possible topic that one could come across in the official GMAT exam."

"The TTP course maximizes the efficiency of the time you spend studying. It will take time and effort but I could almost guarantee that if you complete the course exactly as it is laid out you will get an amazing score. They also have a very responsive team willing to help with any questions you might have."

"TTP has two things that I think no other test prep company offers: A teaching approach that reinforces understanding and an attitude that will give you the mental preparedness needed to succeed on the test. TTP gives you a deep understanding of the concept you need to know while teaching you how to think."

Write a Review