GMAT Exam > GMAT Questions > In Country C, the unemployment rate among con...
Start Learning for Free
In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?
- a)50% decrease
- b)30% decrease
- c)15% decrease
- d)30% increase
- e)55% increase
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
In Country C, the unemployment rate among construction workers dropped...
To determine the approximate percent change in the number of unemployed construction workers over the given period, we need to calculate the difference in the unemployment rates and the change in the number of construction workers.
The unemployment rate dropped from 16% to 9%, indicating a decrease of 16 - 9 = 7 percentage points.
Next, we know that the number of construction workers increased by 20% from September 1, 1992, to September 1, 1996.
To calculate the percent change in the number of unemployed construction workers, we can assume that the change in the number of unemployed workers is directly proportional to the change in the number of construction workers. Therefore, the percent change in the number of unemployed workers will be the same as the percent change in the number of construction workers.
Since the number of construction workers increased by 20%, we can approximate the percent change in the number of unemployed construction workers as -20% (negative sign indicates a decrease).
Hence, the approximate percent change in the number of unemployed construction workers over this period is a 30% decrease, as given by option (B).
Free Test
FREE
| Start Free Test |
Community Answer
In Country C, the unemployment rate among construction workers dropped...
Given information:
- Unemployment rate among construction workers in Country C was 16% on September 1, 1992.
- Unemployment rate among construction workers in Country C was 9% on September 1, 1996.
- The number of construction workers on September 1, 1996, was 20% greater than the number of construction workers on September 1, 1992.
To find:
Approximate percent change in the number of unemployed construction workers over this period.
Approach:
1. Calculate the number of unemployed construction workers on September 1, 1992.
2. Calculate the number of unemployed construction workers on September 1, 1996.
3. Calculate the percent change in the number of unemployed construction workers.
Solution:
Step 1: Calculate the number of unemployed construction workers on September 1, 1992.
- Let the total number of construction workers on September 1, 1992, be x.
- The unemployment rate among construction workers on September 1, 1992, is 16%.
- Therefore, the number of unemployed construction workers on September 1, 1992, is 16% of x, which is 0.16x.
Step 2: Calculate the number of unemployed construction workers on September 1, 1996.
- Let the total number of construction workers on September 1, 1996, be y.
- The unemployment rate among construction workers on September 1, 1996, is 9%.
- Therefore, the number of unemployed construction workers on September 1, 1996, is 9% of y, which is 0.09y.
Step 3: Calculate the percent change in the number of unemployed construction workers.
- The number of construction workers on September 1, 1996, is 20% greater than the number of construction workers on September 1, 1992.
- Therefore, y = 1.2x.
- To find the percent change, we can calculate the difference in the number of unemployed construction workers and divide it by the initial number of unemployed construction workers, and then multiply by 100.
- The difference in the number of unemployed construction workers is 0.16x - 0.09y.
- The initial number of unemployed construction workers is 0.16x.
- The percent change is ((0.16x - 0.09y) / (0.16x)) * 100.
Calculations:
- Substituting y = 1.2x in the above expression, we get:
((0.16x - 0.09(1.2x)) / (0.16x)) * 100
= ((0.16x - 0.108x) / (0.16x)) * 100
= (0.052x / 0.16x) * 100
= (0.052/0.16) * 100
= 0.325 * 100
= 32.5
Hence, the approximate percent change in the number of unemployed construction workers over this period is 32.5%.
Therefore, the correct answer is option B) 30% decrease
- Unemployment rate among construction workers in Country C was 16% on September 1, 1992.
- Unemployment rate among construction workers in Country C was 9% on September 1, 1996.
- The number of construction workers on September 1, 1996, was 20% greater than the number of construction workers on September 1, 1992.
To find:
Approximate percent change in the number of unemployed construction workers over this period.
Approach:
1. Calculate the number of unemployed construction workers on September 1, 1992.
2. Calculate the number of unemployed construction workers on September 1, 1996.
3. Calculate the percent change in the number of unemployed construction workers.
Solution:
Step 1: Calculate the number of unemployed construction workers on September 1, 1992.
- Let the total number of construction workers on September 1, 1992, be x.
- The unemployment rate among construction workers on September 1, 1992, is 16%.
- Therefore, the number of unemployed construction workers on September 1, 1992, is 16% of x, which is 0.16x.
Step 2: Calculate the number of unemployed construction workers on September 1, 1996.
- Let the total number of construction workers on September 1, 1996, be y.
- The unemployment rate among construction workers on September 1, 1996, is 9%.
- Therefore, the number of unemployed construction workers on September 1, 1996, is 9% of y, which is 0.09y.
Step 3: Calculate the percent change in the number of unemployed construction workers.
- The number of construction workers on September 1, 1996, is 20% greater than the number of construction workers on September 1, 1992.
- Therefore, y = 1.2x.
- To find the percent change, we can calculate the difference in the number of unemployed construction workers and divide it by the initial number of unemployed construction workers, and then multiply by 100.
- The difference in the number of unemployed construction workers is 0.16x - 0.09y.
- The initial number of unemployed construction workers is 0.16x.
- The percent change is ((0.16x - 0.09y) / (0.16x)) * 100.
Calculations:
- Substituting y = 1.2x in the above expression, we get:
((0.16x - 0.09(1.2x)) / (0.16x)) * 100
= ((0.16x - 0.108x) / (0.16x)) * 100
= (0.052x / 0.16x) * 100
= (0.052/0.16) * 100
= 0.325 * 100
= 32.5
Hence, the approximate percent change in the number of unemployed construction workers over this period is 32.5%.
Therefore, the correct answer is option B) 30% decrease
Attention GMAT Students!
To make sure you are not studying endlessly, EduRev has designed GMAT study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in GMAT.
|
Explore Courses for GMAT exam
|
|
Similar GMAT Doubts
Top Courses for GMATView all
In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer?
Question Description
In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer?.
In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer?.
Solutions for In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT.
Download more important topics, notes, lectures and mock test series for GMAT Exam by signing up for free.
Here you can find the meaning of In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In Country C, the unemployment rate among construction workers dropped from 16 percent on September 1, 1992, to 9 percent on September 1, 1996. If the number of construction workers was 20 percent greater on September 1, 1996, than on September 1, 1992, what was the approximate percent change in the number of unemployed construction workers over this period?a)50% decreaseb)30% decreasec)15% decreased)30% increasee)55% increaseCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice GMAT tests.
|
|
Explore Courses for GMAT exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup