In Country C, the unemployment rate among construction workers dropped from 16% on 9/1/92 to 9% on 9/1/96. If the number of construction workers was 20% greater on 9/1/96 than on 9/1/92, what was the approximate percent change in the number of unemployed construction workers over this period?
A) 50% decrease
B) 30% decrease
C) 15% decrease
D) 30% increase
E) 55% increase
Anyone have a simple method to solve above?
Thanks
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BryanBTGMAT
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9/1/92:BryanBTGMAT wrote:In Country C, the unemployment rate among construction workers dropped from 16% on 9/1/92 to 9% on 9/1/96. If the number of construction workers was 20% greater on 9/1/96 than on 9/1/92, what was the approximate percent change in the number of unemployed construction workers over this period?
A) 50% decrease
B) 30% decrease
C) 15% decrease
D) 30% increase
E) 55% increase
Anyone have a simple method to solve above?
Thanks
Let the total number of workers = 1000.
Since 16% are unemployed, the number of unemployed workers = .16(1000) = 160.
9/1/96:
The total number of workers increases by 20%:
1000 + .2(1000) = 1200.
Since the unemployment rate is 9%, the number of unemployed workers = .09(1200) = 108.
Decrease in the number of unemployed workers = 160-108 = 52.
Since 52/160 is a bit less than 1/3, the percent decrease is a bit less than 33.33%.
The correct answer is B.
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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].
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