kamalakarthi wrote:Jason's salary and Karen's salary were each p percent greater in 1998 than n 1995.
What is the value of p?
1. In 1995 Karen's salary was $2,000 greater than Jason's
2. In 1998 Karen's salary was $2,440 greater than Jason's
Statement 1:
Alone this tells us nothing about the difference between their 1995 salaries and their 1998 salaries.
Insufficient.
Statement 2:
Alone this tells us nothing about the difference between their 1995 salaries and their 1998 salaries.
Statements Combined:
Given that Karen's salary was 2,000 greater in 1995 and 2,440 greater in 1998, we can tell by what percentage their salaries increased.
The parts of their salaries that were the same increased by the same amount. So if the salaries had been the same, they both would have increased by the same amount.
Karen's salary increased by more because there was more to increase. So the percentage change in the difference is the percentage change in the salaries.
We don't have to do the math, but for explanatory purposes here is the percentage increase.
(2440 - 2000)/2000 = 440/2000 = .22
Consider the following examples.
Year -- Jason -- Karen
1995 -- 10,000 -- 12,000
1998 -- 12,200 -- 14,640
Jason's 1998 salary = 10,000 x 1.22 = 12,200
Karen's 1998 salary = (10,000 x 1.22) + (2000 x 1.22) = 14,640
14,640 - 12,200 = 2,440
Year -- Jason -- Karen
1995 -- 20,000 -- 22,000
1998 -- 24,400 -- 26,840
Jason's 1998 salary = 20,000 x 1.22 = 24,400
Karen's 1998 salary = (20,000 x 1.22) + (2000 x 1.22) = 26,840
26,840 - 24,400 = 2,440
The correct answer is
C.
