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Jazz and blues recordings accounted for 6 percent of the

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

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

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

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

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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%.
$$Let\ the\ revenue\ in\ the\ year\ 1998\ from\ the\ salse\ of\ jazz\ and\ blues\ recording\ in\ 1998\ =R$$
$$140\%\ of\ R=50.4\ million\ $$
$$\frac{140}{100}\cdot R=50.4million$$
$$\frac{1.4R}{1.4}=\frac{50.4}{1.4}million$$
$$R=36million$$
$$statement\ 2\ is\ INSUFFICIENT$$
$$answer\ is\ option\ B$$
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