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

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Retired Moderator
Joined: 07 Jun 2014
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GRE 1: Q167 V156
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Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  14 Jul 2018, 05:11
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88% (00:48) correct 11% (00:31) wrong based on 26 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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Retired Moderator
Joined: 07 Jun 2014
Posts: 4803
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 173

Kudos [?]: 2971 [0], given: 394

Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  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.
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Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  17 Sep 2019, 05:12
Previous percent increase is 33.3% so From 2004-2005; 162*33.3 = 5394.6 then divide it by 100 we get 53.946; adding this with 162 + 53.946 = 215.9460, this is the actual per-student profit whereas we take it as 216.
Now, my question is in the main/real GRE xm do I need to put the 215.94 or just by leveling 215.94 to 216 and then put 216 as an answer. ???
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Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  17 Sep 2019, 05:16
Expert's post
The question will specify if the value must be rounded or you have to insert the exact value.

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Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  17 Sep 2019, 05:26
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huda wrote:
Previous percent increase is 33.3% so From 2004-2005; 162*33.3 = 5394.6 then divide it by 100 we get 53.946; adding this with 162 + 53.946 = 215.9460, this is the actual per-student profit whereas we take it as 216.
Now, my question is in the main/real GRE xm do I need to put the 215.94 or just by leveling 215.94 to 216 and then put 216 as an answer. ???

Be careful, an increase from 60 to 80 is a 1/3 increase.
1/3 = 33.3333333.....%
In your solution, you rounded 33.3333333.....% down to 33.3%
So, your final answer is a bit off.

If we stick with the fraction increase of 1/3, we need only find 1/3 of 162, which is exactly 54

So, our final answer = 162 + 54 = 216

Cheers,
Brent
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Director
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Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  17 Sep 2019, 05:29
GreenlightTestPrep wrote:
huda wrote:
Previous percent increase is 33.3% so From 2004-2005; 162*33.3 = 5394.6 then divide it by 100 we get 53.946; adding this with 162 + 53.946 = 215.9460, this is the actual per-student profit whereas we take it as 216.
Now, my question is in the main/real GRE xm do I need to put the 215.94 or just by leveling 215.94 to 216 and then put 216 as an answer. ???

Be careful, an increase from 60 to 80 is a 1/3 increase.
1/3 = 33.3333333.....%
In your solution, you rounded 33.3333333.....% down to 33.3%
So, your final answer is a bit off.

If we stick with the fraction increase of 1/3, we need only find 1/3 of 162, which is exactly 54

So, our final answer = 162 + 54 = 216

Cheers,
Brent

Many Many thanks
_________________

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Re: Profit Per Student (in Dollars) at Dan’s Dojo, [#permalink]  30 Oct 2019, 20:49
he percent increase from 2000 to 2001 is:

Percent Change =DifferenceOriginal×100%DifferenceOriginal×100%
Percent Change =2010×100%=33.333333%2010×100%=33.333333%

Now, apply a 33.33333%, or 1313, 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.
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Re: Profit Per Student (in Dollars) at Dan’s Dojo,   [#permalink] 30 Oct 2019, 20:49
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