What was Jean's Insurance Premium in 1995? GMAT Data Sufficiency

Question: What was Jean's insurance premium in 1995?

(1) The ratio of Jean’s insurance premium in 1995 to her insurance premium in 1994 was 6/5.
(2) Jean’s insurance premium in 1995 was 20 percent more than her insurance premium in 1994.

A) Statement (1) ALONE is sufficient, but statement (2) ALONE is not sufficient.
B) Statement (2) ALONE is sufficient, but statement (1) ALONE is not sufficient.
C) BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D) EACH statement ALONE is sufficient.
E) Statements (1) and (2) TOGETHER are not sufficient.

Answer: E
Solution and Explanation:
Approach Solution 1:
Statement 1)
Insurance 1995/ Insurance 1994 = 6/ 5
Too little information to answer the question. INSUFFICIENT.
Statement 2)
Insurance 1994 = x
Insurance 1995 = 1.2x
Nothing else can be said from this info. INSUFFICIENT.
Combining 1) + 2)
1.2x/ x = 6/5
6/5 = 6/5
Still, we cannot find an answer to the question. Even combining didn't work.
Hence the correct answer is E.

Approach Solution 2:
Case 1:
no info of premium given insufficient
Case 2:
again no value given
insufficient
from1 & 2
we cannot derive any thing
1.2x/x=6/5
insufficient
Hence the correct answer is E.

Approach Solution 3:
Case 1)
Insurance 1995/ Insurance 1994 = 6/ 5
INSUFFICIENT.
Case 2)
Insurance 1994 = x
Insurance 1995 = 1.2x
INSUFFICIENT.
Combining 1) + 2)
1.2x/ x = 6/5
6/5 = 6/5
Even combining didn't work.
Hence the correct answer is E.

“What was Jean's insurance premium in 1995?” - is a topic of the GMAT Quantitative reasoning section of GMAT. GMAT Quant section consists of a total of 31 questions. GMAT Data Sufficiency questions consist of a problem statement followed by two factual statements. GMAT data sufficiency comprises 15 questions which are two-fifths of the total 31 GMAT quant questions.

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