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Profit Per Student (in Dollars) at Dan’s Dojo,

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GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4720
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 91

Kudos [?]: 1622 [0], given: 385

CAT Tests
Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink] New post 14 Jul 2018, 05:11
Expert's post
00:00

Question Stats:

50% (00:48) correct 50% (00:00) wrong based on 4 sessions
Profit Per Student (in Dollars) at Dan’s Dojo, 2000–2004




2000 60
2001 80
2002 80
2003 100
2004 162


At Dan’s Dojo, the percent increase from 2004 to 2005 (not shown) was the same as the percent increase from 2000 to 2001. What was the profit per student for 2005?

[Reveal] Spoiler: OA
216

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Sandy
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GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4720
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 91

Kudos [?]: 1622 [0], given: 385

CAT Tests
Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink] New post 14 Jul 2018, 05:30
Expert's post
Explanation

The percent increase from 2000 to 2001 is:

Percent Change =\(\frac{Difference}{Original}\times 100 \%\)
Percent Change =\(\frac{20}{10}\times 100 \%=33.333333 \%\)

Now, apply a 33.33333%, or \(\frac{1}{3}\), increase to 2004’s figure. The GRE calculator cannot accept a repeating decimal; instead, divide 162 by 3 to get the amount of increase, and then add 162 to get the new profit per student in 2005: 162 ÷ 3 + 162 = 216.
_________________

Sandy
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Re: Profit Per Student (in Dollars) at Dan’s Dojo,   [#permalink] 14 Jul 2018, 05:30
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Profit Per Student (in Dollars) at Dan’s Dojo,

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