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raunekk: Legendary Member; Posts: 1159; Joined: Wed Apr 16, 2008 10:35 pm; Thanked: 56 times

by raunekk » Wed Jun 15, 2011 1:32 am

During 2005, a company produced an average of 2000 products per month. How many products will the company need to produce from 2006 through 2008 in order to increase its monthly average for the period from 2005 through 2008 by 200% over its 2005 average?

1) 148000 2) 172000 3) 200000 4) 264000 5) 288000

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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 » Wed Jun 15, 2011 2:52 am

raunekk wrote:During 2005, a company produced an average of 2000 products per month. How many products will the company need to produce from 2006 through 2008 in order to increase its monthly average for the period from 2005 through 2008 by 200% over its 2005 average?

1) 148000 2) 172000 3) 200000 4) 264000 5) 288000

Monthly average over all 4 years = 2000 + 2*2000 = 6000.
Jan 2005 + Jan 2006 + Jan 2007 + Jan 2008 = 4*6000 = 24000.
Jan 2006 + Jan 2007 + Jan 2008 = 24000 - Jan 2005 = 24000-2000 = 22000.
Thus, monthly average for 2006, 2007 and 2008 = 22000/3.
Over 36 months, total for 2006, 2007 and 2008 = 36*(22000/3) = 264,000.

The correct answer is D.

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Mom4MBA: Senior | Next Rank: 100 Posts; Posts: 90; Joined: Fri Jan 22, 2010 1:10 pmFollowed by: 4 members; Location: New Jersey; Thanked: 13 times; GMAT Score:640

by Mom4MBA » Wed Jun 15, 2011 3:03 am

for 2005:
given average is 2000
so total will be 2000 x 12 = 24,000

for 2006 to 2008:
let total be y

for 2005 to 2008:
average will be (total of 2005 + total of 2006 to 2008)/48 = (24000+y)/ 48

in order to increase its monthly average for the period from 2005 through 2008 by 200% over its 2005 average:

[(avg 2005 to 2008) - (avg 2005)] / avg 2005 = 200/100
[((24000+ y)/48 ) - 2000]/ 2000 = 200/100

on solving we will get y = 264,000

Stay focused

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raunekk: Legendary Member; Posts: 1159; Joined: Wed Apr 16, 2008 10:35 pm; Thanked: 56 times

by raunekk » Wed Jun 15, 2011 3:15 am

Thanks Guys !!

The Answer is indeed 264,000

Guess I took too many variables and got confused in the process.

Thanks!

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varun0629142: Senior | Next Rank: 100 Posts; Posts: 37; Joined: Sat Jun 16, 2012 7:07 am

by varun0629142 » Sun Jun 16, 2013 4:31 am

Hi GuryNY,

I dint understand the basics behind this question. Please assist.

Cheers

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Jeff@TargetTestPrep: GMAT Instructor; Posts: 1462; Joined: Thu Apr 09, 2015 9:34 amFollowed by: 22 members; Location: New York, NY; Thanked: 39 times

by Jeff@TargetTestPrep » Fri Dec 22, 2017 10:36 am

raunekk wrote:During 2005, a company produced an average of 2000 products per month. How many products will the company need to produce from 2006 through 2008 in order to increase its monthly average for the period from 2005 through 2008 by 200% over its 2005 average?

1) 148000 2) 172000 3) 200000 4) 264000 5) 288000

We need to determine how many products a company will need to produce in order to increase its monthly average of 2,000 products by 200% for the period from 2005 through 2008. Thus, the average has to increase to 3 x 2,000 = 6,000 products.

Since the company produced an average of 2,000 products per month in 2005, the company produced 2,000 x 12 = 24,000 products in 12 months of 2005 (or in all of 2005).

We can let x = the total number of products made from 2006 through 2008, and we know the number of months from 2005 through 2008 is 4 x 12 months = 48 months. Now let's use the average equation to determine x:

6,000 = (24,000 + x)/48

288,000 = 24,000 + x

x = 264,000

Answer: D

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[email protected]: Elite Legendary Member; Posts: 10392; Joined: Sun Jun 23, 2013 6:38 pmFollowed by: 511 members; Location: Palo Alto, CA; Thanked: 2867 times; GMAT Score:800

by [email protected] » Fri Dec 22, 2017 11:57 am

Hi All,

Although the prompt does not explicitly state it, we're meant to infer that the company continues to produce products EVERY month (in the years 2005 through 2008, inclusive). A 200% increase in the monthly average (from 2005) would be 6,000 products per month for the ENTIRE 4-YEAR period.

Thus, the TOTAL number of products produced during those 4 years would have to be (48 months)(6,000 products/month) = 288,000 products.

In 2005, the total number of products produced was (12 months)(2,000 products/month) = 24,000 products.

To hit the 288,000 product grand total, the company would have to produce 288,000 - 24,000 = 264,000 products in the years 2006 - 2008.

Final Answer: D

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Rich

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