Solutions
Get detailed explanations to advanced GMAT questions.
Question
At the end of each year, the value of a certain antique watch is “c” percent more than its value one year earlier, where “c” has the same value each year. If the value of the watch was “k” dollars on January 1, 1992, and “m” dollars on January 1, 1994, then in terms of “m” and “k”, what was the value of the watch, in dollars, on January 1, 1995?
Option A:
m+1/2(m-k) B. m+1/2((m-k)/k)m C. (m*sqrt(m))/sqrt(k) D. m^2/2k; E. km^2
Option B:
m+1/2((m-k)/k)m
Option C:
(m*sqrt(m))/sqrt(k)
Option D:
m^2/2k
Option E:
km^2
Difficulty Level
HardSolution
Option C is the correct answer.
Option Analysis
Price in 1992 – k;
Price in 1993 – k∗(1+(c/100));
Price in 1994 – k∗(1+(c/100))^2=m –> (1+(c/100))=√(m/k);
Price in 1995 – m*(1+(c/100)) = m *√(m/k)
Related Questions
- If x is a nonzero number, which of the three numbers x, 1/x and x^2 is greatest?
- Kay began a certain game with x chips. On each of the next two plays, she lost one more than half…
- Of the 500 business people surveyed, 78 percent said that they use their laptop computers at home…
- In a particular machine, there are 2 gears that interlock; one gear is larger in circumference than the…
- A string of 10 light bulbs is wired in such a way that if any individual light bulb fails, the entire string…