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by shashank.ism » Sun Feb 21, 2010 4:07 pm
tsmith93 wrote:If the rent on an apartment goes up 10% every year, next year's rent will be how many times last year's rent?
let this year rent be x
so next year's rent = 1.10 x
last year's rent = (1- 0.1)x = 0.9 x
so next yr/last yr = 1.1/0.9 = 11/9 times
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by harsh.champ » Sun Feb 21, 2010 4:49 pm
tsmith93 wrote:If the rent on an apartment goes up 10% every year, next year's rent will be how many times last year's rent?
In such %age question,it is advisable to plug-in no.s.
Let the rent be $100.
Next year rent will be $110.
Hence ,next year's rent to last year's rent = $110/$100 = 1.1

I am confused over here-what is te meaning of last year's rent like 2010/2009

OR

Am I taking in today's time reference- Feb-2010
Last yr=2009
Next yr -2011

I think in the GMAT it is clearly specified.
CAN someone throw some light on this topic??
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by thephoenix » Sun Feb 21, 2010 5:36 pm
tsmith93 wrote:If the rent on an apartment goes up 10% every year, next year's rent will be how many times last year's rent?
10% inc means 1.1 times its actually (100+10)/100=110/100=1.1
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by shashank.ism » Sun Feb 21, 2010 5:40 pm
thephoenix wrote:
tsmith93 wrote:If the rent on an apartment goes up 10% every year, next year's rent will be how many times last year's rent?
10% inc means 1.1 times its actually (100+10)/100=110/100=1.1
"thephoenix" the rent is to be compared for next year and last year not present year.
so it would be 1.1/0.9 = 11/9
Harsh I think last year means 2009 as in ur example ... and next year means 2011
if they would in any case want to compare with 2010 they will write present year..

correct me if I m wrong.....
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by thephoenix » Sun Feb 21, 2010 5:48 pm
shashank.ism wrote:
thephoenix wrote:
tsmith93 wrote:If the rent on an apartment goes up 10% every year, next year's rent will be how many times last year's rent?
10% inc means 1.1 times its actually (100+10)/100=110/100=1.1
"thephoenix" the rent is to be compared for next year and last year not present year.
so it would be 1.1/0.9 = 11/9
Harsh I think last year means 2009 as in ur example ... and next year means 2011
if they would in any case want to compare with 2010 they will write present year..

correct me if I m wrong.....
thanks
so in that case suppose last year its x ; this year it will be 1.1 x and next year it will be 1.1(1.1x)=1.21 x

which 1.21 times of last year
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by onedayi'll » Sun Feb 21, 2010 8:47 pm
thephoenix wrote:
shashank.ism wrote:
thephoenix wrote:
tsmith93 wrote:If the rent on an apartment goes up 10% every year, next year's rent will be how many times last year's rent?
10% inc means 1.1 times its actually (100+10)/100=110/100=1.1
"thephoenix" the rent is to be compared for next year and last year not present year.
so it would be 1.1/0.9 = 11/9
Harsh I think last year means 2009 as in ur example ... and next year means 2011
if they would in any case want to compare with 2010 they will write present year..

correct me if I m wrong.....
thanks
so in that case suppose last year its x ; this year it will be 1.1 x and next year it will be 1.1(1.1x)=1.21 x

which 1.21 times of last year



Agree with "thephoenix"

It should be 1.21 times of last year
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by ashforgmat » Sun Feb 21, 2010 10:04 pm
THis is a bit ambiguous since if we look at it in this way :-
1st Year - 100
2nd year - 110
3rd year - 121
[spoiler]
Hance considering that the reference is 2nd year. The 3rd years rent is 1.21 times the rent of the last year. But its all too ambiguous. [/spoiler]
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