J's salary and P's salary

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Ashetty: Senior | Next Rank: 100 Posts; Posts: 49; Joined: Sun May 08, 2011 4:33 pm

by Ashetty » Sun Sep 18, 2011 5:54 pm

J's salary and P's salary were each P% greater in 1998 than in 1995, what is value of P?
1)In 1995 K's salary was 2000 greater than J
2)In 1998 K's salary was 2440 greater than J

Ans:C

CAN ANYONE PLEASE EXPLAIN ME WHY?

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Source: Beat The GMAT — Data Sufficiency | Sun Sep 18, 2011 5:54 pm

cans: Legendary Member; Posts: 1309; Joined: Mon Apr 04, 2011 5:34 amFollowed by: 123 members; Location: India; Thanked: 310 times; GMAT Score:750

by cans » Sun Sep 18, 2011 9:29 pm

j's initital = x. final = (1+ p/100)x
similarly K's: (1 + p/100)y
A) y = 2000 + x
insufficient.
B) (1+ p/100)y = 2440 + (1+ p/100)x insufficient
A&B)
(1+ p/100)y = 2440 + (1+ p/100)x -> (1 + p/100) (y-x) = 2440
(1 + p/100)2000=2440. solve for p
IMO C

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Geva@EconomistGMAT: GMAT Instructor; Posts: 905; Joined: Sun Sep 12, 2010 1:38 amFollowed by: 123 members; Thanked: 378 times; GMAT Score:760

by Geva@EconomistGMAT » Sun Sep 18, 2011 10:10 pm

Ashetty wrote:J's salary and P's salary were each P% greater in 1998 than in 1995, what is value of P?
1)In 1995 K's salary was 2000 greater than J
2)In 1998 K's salary was 2440 greater than J

Ans:C

CAN ANYONE PLEASE EXPLAIN ME WHY?

Cans' solution, in a more qualitative analysis: between 1995 and 1998, not only the salaries increase, but also the DIFFERENCE between the salaries increased: from a differnce of $2000 to a difference of $2440. The $440 extra that K's salary earned in those 3 years is the p% interest earned just on the extra $2000.

So P% of 2000 is $440 - which should allow you to calculate P. But you need both the initial difference and the final difference.

Last edited by Geva@EconomistGMAT on Mon Sep 19, 2011 1:29 pm, edited 1 time in total.

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sl750: Master | Next Rank: 500 Posts; Posts: 496; Joined: Tue Jun 07, 2011 5:34 amFollowed by: 1 member; Thanked: 38 times

by sl750 » Mon Sep 19, 2011 9:01 am

Is that a typo in your statements?. Because you've mentioned another entity 'K'

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Geva@EconomistGMAT: GMAT Instructor; Posts: 905; Joined: Sun Sep 12, 2010 1:38 amFollowed by: 123 members; Thanked: 378 times; GMAT Score:760

by Geva@EconomistGMAT » Mon Sep 19, 2011 1:32 pm

sl750 wrote:Is that a typo in your statements?. Because you've mentioned another entity 'K'

Yes - Edited. Thanks.

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