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.
5-Day Free Trial
5-day free, full-access trial TTP
Available with Beat the GMAT members only code
MORE DETAILS
Jazz and blues recordings accounted for 6 percent of the
This topic has expert replies
-
BTGmoderatorLU
- Moderator
- Posts: 2207
- Joined: Sun Oct 15, 2017 1:50 pm
- Followed by:6 members
Timer
00:00
Your Answer
A
B
C
D
E
Global Stats
GMAT/MBA Expert
-
Jay@ManhattanReview
- GMAT Instructor
- Posts: 3008
- Joined: Mon Aug 22, 2016 6:19 am
- Location: Grand Central / New York
- Thanked: 470 times
- Followed by:34 members
Timer
00:00
Your Answer
A
B
C
D
E
Global Stats
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.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.
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.
-
GMATGuruNY
- GMAT Instructor
- Posts: 15539
- Joined: Tue May 25, 2010 12:04 pm
- Location: New York, NY
- Thanked: 13060 times
- Followed by:1906 members
- GMAT Score:790
Timer
00:00
Your Answer
A
B
C
D
E
Global Stats
Let J = jazz and blues revenue in 1998.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.
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
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
-
deloitte247
- Legendary Member
- Posts: 2214
- Joined: Fri Mar 02, 2018 2:22 pm
- Followed by:5 members
Timer
00:00
Your Answer
A
B
C
D
E
Global Stats
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%.
$$Let\ the\ revenue\ in\ the\ year\ 1998\ from\ the\ salse\ of\ jazz\ and\ blues\ recording\ in\ 1998\ =R$$
$$140\%\ of\ R=50.4\ million\ $$
$$\frac{140}{100}\cdot R=50.4million$$
$$\frac{1.4R}{1.4}=\frac{50.4}{1.4}million$$
$$R=36million$$
$$statement\ 2\ is\ INSUFFICIENT$$
$$answer\ is\ option\ B$$
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%.
$$Let\ the\ revenue\ in\ the\ year\ 1998\ from\ the\ salse\ of\ jazz\ and\ blues\ recording\ in\ 1998\ =R$$
$$140\%\ of\ R=50.4\ million\ $$
$$\frac{140}{100}\cdot R=50.4million$$
$$\frac{1.4R}{1.4}=\frac{50.4}{1.4}million$$
$$R=36million$$
$$statement\ 2\ is\ INSUFFICIENT$$
$$answer\ is\ option\ B$$
