tomatoes increased

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sanju09: GMAT Instructor; Posts: 3650; Joined: Wed Jan 21, 2009 4:27 amFollowed by: 80 members; Location: India; Thanked: 267 times; GMAT Score:760

by sanju09 » Tue Mar 03, 2009 5:00 am

By what percentage did the price of a pound of tomatoes increase?

(1) Before the increase, the price of a pound of tomatoes was 50 cents.

(2) The price of tomatoes increased by 20 cents per pound.

The mind is everything. What you think you become. -Lord Buddha

Sanjeev K Saxena
Quantitative Instructor
The Princeton Review - Manya Abroad
Lucknow-226001

www.manyagroup.com

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Source: Beat The GMAT — Data Sufficiency | Tue Mar 03, 2009 5:00 am

piyush_nitt: Master | Next Rank: 500 Posts; Posts: 424; Joined: Sun Dec 07, 2008 5:15 pm; Location: Sydney; Thanked: 12 times

Re: tomatoes increased

by piyush_nitt » Tue Mar 03, 2009 5:13 am

sanju09 wrote:By what percentage did the price of a pound of tomatoes increase?

(1) Before the increase, the price of a pound of tomatoes was 50 cents.

(2) The price of tomatoes increased by 20 cents per pound.

IMO B

A doesnot give any info of current price

B basically tells the percentage increase i.e 20%

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sanju09: GMAT Instructor; Posts: 3650; Joined: Wed Jan 21, 2009 4:27 amFollowed by: 80 members; Location: India; Thanked: 267 times; GMAT Score:760

Re: tomatoes increased

by sanju09 » Tue Mar 03, 2009 5:14 am

piyush_nitt wrote:
sanju09 wrote:By what percentage did the price of a pound of tomatoes increase?

(1) Before the increase, the price of a pound of tomatoes was 50 cents.

(2) The price of tomatoes increased by 20 cents per pound.
IMO B

A doesnot give any info of current price

B basically tells the percentage increase i.e 20%

[spoiler]:roll: [/spoiler]

The mind is everything. What you think you become. -Lord Buddha

Sanjeev K Saxena
Quantitative Instructor
The Princeton Review - Manya Abroad
Lucknow-226001

www.manyagroup.com

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piyush_nitt: Master | Next Rank: 500 Posts; Posts: 424; Joined: Sun Dec 07, 2008 5:15 pm; Location: Sydney; Thanked: 12 times

Re: tomatoes increased

by piyush_nitt » Tue Mar 03, 2009 5:34 am

sanju09 wrote:
piyush_nitt wrote:
sanju09 wrote:By what percentage did the price of a pound of tomatoes increase?

(1) Before the increase, the price of a pound of tomatoes was 50 cents.

(2) The price of tomatoes increased by 20 cents per pound.
IMO B

A doesnot give any info of current price

B basically tells the percentage increase i.e 20%
[spoiler]:roll: [/spoiler]

My Mistake !!

Mis read the Q.

should be C.

1 & 2 together are SUFF

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lilu: Master | Next Rank: 500 Posts; Posts: 148; Joined: Wed Dec 10, 2008 5:13 pm; Location: SF, CA; Thanked: 12 times

by lilu » Tue Mar 03, 2009 11:29 am

In order to calculate % of increase / decrease, we need to know the original amount (price in this case) and by how much that amount has changed:
Increase/decrease= (changed amount-original amount)/ original amount

Statement 1 tells us the original price
Statement 2 tells us the amount by which the price changed: from 50 cents to 70 cents

So, to calculate increase: (70-50)/50=0.4; 0.4*100%=40%

So, choose C

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