Steps 1 & 2: Understand Question and Draw Inferences
Let tuition fees of University A in 2008 and 2012 be A0 and A1 respectively
Let tuition fees of University B in 2008 and 2012 be B0 and B1 respectively
It is given that:
A1 = $100,000
And that:
Thus, we have inferred the values of A0 and A1 from the question statement.
The question asks us about the percent increase in the tuition fees of University B.
In order to find this percent increase, we need:
(i) Either the values of B0 and B1.
(ii) Or, a relationship of the form B0 = kB1 where k is a constant
Step 3: Analyze statement 1
As per Statement 1,
In the year 2008, the tuition fees of University A was 2.5 times the tuition fees of University B.
A0 = 2.5 (B0)
Since we know the value of A0, from the above equation, we will be able to find the value of B0.
However, this statement provides us no clue about the value of B1 or even about the relationship between B0 and B1.
Thus, Statement 1 is not sufficient.
Step 4: Analyze statement 2
As per Statement 2,
In the year 2012, the tuition fees of University A is $30,000 more than the tuition fees of University B
A1 = B1 + 30,000
B1 = 100,000 – 30,000
B1 = 70,000
However, Statement 2 gives us no idea about the value of B0 or even about the relationship between B0 and B1.
Therefore, Statement 2 is Not Sufficient.
Step 5: Analyze Both Statements Together (if needed)
From Statement 1:
A0 = 2.5 (B0)
80000 = 2.5 (B0)
Thus,
B0 = 32,000
From Statement 2:
B1 = 70,000
Thus, we now know the value of B0 and B1.
So, we will be able to calculate the percent increase in the tuition fees of University B from 2008 to 2012.
Thus, both the statements together are sufficient to arrive at a unique solution.
Answer: Option (C)