It is currently 13 Dec 2017, 04:54
My Tests

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Annual Percent Change In Dollar Amount Of Sales

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Director
Director
User avatar
Joined: 16 May 2014
Posts: 597
GRE 1: 326 Q165 V161
Followers: 72

Kudos [?]: 313 [0], given: 64

Annual Percent Change In Dollar Amount Of Sales [#permalink] New post 29 May 2014, 08:43
Expert's post
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

100% (02:21) correct 0% (00:00) wrong based on 5 sessions

ANNUAL PERCENT CHANGE IN DOLLAR AMOUNT OF SALES
AT FIVE RETAIL STORES FROM 2006 TO 2008


Questions 1 to 3 are based on the following data.





Store Percent Change
from 2006 to 2007
Percent Change
from 2007 to 2008
P 10 –10
Q –20 9
R 5 12
S –7 –15
T 17 –8


[b]1) If the dollar amount of sales at Store P was $800,000 for 2006, what was the dollar amount of sales at that store for 2008?
(A) $727,200
(B) $792,000
(C) $800,000
(D) $880,000
(E) $968,000

2)At Store T, the dollar amount of sales for 2007 was what percent of the dollar amount of sales for 2008?

Give your answer to the nearest 0.1 percent.

________________________ %

3)Based on the information given, which of the following statements must be true?

Indicate all such statements.

(A) For 2008 the dollar amount of sales at Store R was greater than that at each of the other four stores.
(B) The dollar amount of sales at Store S for 2008 was 22 percent less than that for 2006.
(C) The dollar amount of sales at Store R for 2008 was more than 17 percent greater than that for 2006.
_________________

My GRE Resources
Free GRE resources | GRE Prep Club Quant Tests
If you find this post helpful, please press the kudos button to let me know ! :)

GRE Instructor
User avatar
Joined: 10 Apr 2015
Posts: 663
Followers: 29

Kudos [?]: 502 [0], given: 3

Re: DI Set 1 [#permalink] New post 21 May 2015, 14:36
Expert's post
soumya1989 wrote:

ANNUAL PERCENT CHANGE IN DOLLAR AMOUNT OF SALES
AT FIVE RETAIL STORES FROM 2006 TO 2008







Store Percent Change
from 2006 to 2007
Percent Change
from 2007 to 2008
P 10 –10
Q –20 9
R 5 12
S –7 –15
T 17 –8

1) If the dollar amount of sales at Store P was $800,000 for 2006, what was the dollar amount of sales at that store for 2008?
(A) $727,200
(B) $792,000
(C) $800,000
(D) $880,000
(E) $968,000


Many people will INCORRECTLY choose C as their answer, because they feel that a 10% increase followed by a 10% decrease will get us back to where we started. This is a common misconception.

Let's solve the question.

Store P's 2006 sales = $800,000
The table says that, from 2006 to 2007, sales INCREASED 10%
10% of $800,000 = $80,000
So, the TOTAL sales for 2007 = $800,000 + $80,000 = $880,000

Next, the table says that, from 2007 to 2008, sales DECREASED 10%
10% of $880,000 = $88,000
So, the TOTAL sales for 2008 = $880,000 - $88,000 = $792,000

Answer:
[Reveal] Spoiler:
B


Cheers,
Brent
_________________

Brent Hanneson – Founder of greenlighttestprep.com

Image

Check out the online reviews of our course

GRE Instructor
User avatar
Joined: 10 Apr 2015
Posts: 663
Followers: 29

Kudos [?]: 502 [0], given: 3

Re: DI Set 1 [#permalink] New post 21 May 2015, 14:44
Expert's post
soumya1989 wrote:
Questions 1 to 3 are based on the following data.

ANNUAL PERCENT CHANGE IN DOLLAR AMOUNT OF SALES
AT FIVE RETAIL STORES FROM 2006 TO 2008







Store Percent Change
from 2006 to 2007
Percent Change
from 2007 to 2008
P 10 –10
Q –20 9
R 5 12
S –7 –15
T 17 –8

2)At Store T, the dollar amount of sales for 2007 was what percent of the dollar amount of sales for 2008?

Give your answer to the nearest 0.1 percent.

________________________ %



Notice that we don't need to know anything about the 2006 sales figures here.

All we need to know is that from 2007 to 2008, the sales DECREASED 8%
So, let's PLUG IN some nice values for 2007 and 2008 that meet this condition.

How about:
In 2007, total sales = $100
In 2008, total sales = $92
As you can see, these figures show an 8% decrease from 2007 to 2008

Question: The dollar amount of sales for 2007 was what percent of the dollar amount of sales for 2008?
In other words, $100 is what percent of $92?
In other words, express 100/92 as a percent.

Well, 100/92 = 1.08695...
This equals 108.7% (rounded to the nearest tenth of a percent)


Answer:
[Reveal] Spoiler:
108.7%


Cheers,
Brent
_________________

Brent Hanneson – Founder of greenlighttestprep.com

Image

Check out the online reviews of our course

GRE Instructor
User avatar
Joined: 10 Apr 2015
Posts: 663
Followers: 29

Kudos [?]: 502 [0], given: 3

Re: Annual Percent Change In Dollar Amount Of Sales [#permalink] New post 21 May 2015, 15:02
Expert's post
soumya1989 wrote:

ANNUAL PERCENT CHANGE IN DOLLAR AMOUNT OF SALES
AT FIVE RETAIL STORES FROM 2006 TO 2008







Store Percent Change
from 2006 to 2007
Percent Change
from 2007 to 2008
P 10 –10
Q –20 9
R 5 12
S –7 –15
T 17 –8

3)Based on the information given, which of the following statements must be true?

Indicate all such statements.

(A) For 2008 the dollar amount of sales at Store R was greater than that at each of the other four stores.
(B) The dollar amount of sales at Store S for 2008 was 22 percent less than that for 2006.
(C) The dollar amount of sales at Store R for 2008 was more than 17 percent greater than that for 2006.



(A) For 2008 the dollar amount of sales at Store R was greater than that at each of the other four stores.
This need not be true.
The figures in this table are all RELATIVE from year to year
Sure, Store R may have seen the biggest PERCENT increase in sales figures, but we know nothing about the actual sales figures.
For example, it's possible that Store R's sales figures $100 in 2006, $105 in 2007 and $117.60 in 2008
Meanwhile, it's possible that Store P's sales figures $100,000 in 2006, $110,000 in 2007 and $99,000 in 2008


(B) The dollar amount of sales at Store S for 2008 was 22 percent less than that for 2006.
This need not be true.
To see why, let's plug in some values.
Let store S's 2006 sales = $100
The table says that, from 2006 to 2007, sales DECREASED 7%
So, the TOTAL sales for 2007 = $93

Next, the table says that, from 2007 to 2008, sales DECREASED 15%
15% of $93 = $13.95
So, the TOTAL sales for 2008 = $93 - $13.95 = $79.05

So, sales decreased from $100 to $79.05
This does NOT represents a 22% overall decrease.


(C) The dollar amount of sales at Store R for 2008 was more than 17 percent greater than that for 2006.
This IS be true.

To see why, let's plug in some values.
Let store R's 2006 sales = $100
The table says that, from 2006 to 2007, sales INCREASED 5%
So, the TOTAL sales for 2007 = $105

Next, the table says that, from 2007 to 2008, sales INCREASED 12%
12% of $105 = $12.60
So, the TOTAL sales for 2008 = $105 + $12.60 = $117.60

So, sales increased from $100 to $117.60
This DOES represents an overall increase of more than a 17%.


Answer:
[Reveal] Spoiler:
C only


Cheers,
Brent
_________________

Brent Hanneson – Founder of greenlighttestprep.com

Image

Check out the online reviews of our course

Display posts from previous: Sort by

Annual Percent Change In Dollar Amount Of Sales

  Question banks Downloads My Bookmarks Reviews Important topics  


cron

GRE Prep Club Forum Home| About| Terms of Use| GRE Prep Club Rules| Contact

Powered by phpBB © phpBB Group

Kindly note that the GRE® test is a registered trademark of the Educational Testing Service®, and this site has neither been reviewed nor endorsed by ETS®.