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During a 3 year period, the profits of company X changed by

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During a 3 year period, the profits of company X changed by

by BTGmoderatorLU » Sat Oct 20, 2018 2:14 pm

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Source: Veritas Prep

During a 3 year period, the profits of company X changed by what percent from the second year to the third year?

1. The increase in profits of company X from the first year to the second year was the same as the increase from the first year to the third year.
2. For company X the profits for first year = $13,000 and for 3rd year = $15,900.

The OA is A.
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by GMATGuruNY » Sun Oct 21, 2018 2:43 am

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BTGmoderatorLU wrote:Source: Veritas Prep

During a 3 year period, the profits of company X changed by what percent from the second year to the third year?

1. The increase in profits of company X from the first year to the second year was the same as the increase from the first year to the third year.
2. For company X the profits for first year = $13,000 and for 3rd year = $15,900
Statement 1:
If profits increase by $X from the first year to the second year, then they must increase by $0 from the second year to the third year, with the result that the increase in profits from the first year to the third year (X+0 = $X) is the same as the increase in profits from the first year to the second year (also $X).
Since profits increase by $0 from the second year to the third year, the percent change from the second year to the third year = 0%.
SUFFICIENT.

Statement 2:
No way to determine the percent change from the second year to the third year.
INSUFFICIENT.

The correct answer is A.
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