Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 07 Jul 2015, 10:47

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# A certain Social Security recipient will receive an annual

Author Message
TAGS:
Eternal Intern
Joined: 07 Jun 2003
Posts: 468
Location: Lone Star State
Followers: 1

Kudos [?]: 47 [0], given: 0

A certain Social Security recipient will receive an annual [#permalink]  22 Jul 2003, 17:44
. A certain Social Security recipient will receive an annual benefit of $12,000 provided he has annual earnings of$9,360 or less, but the benefit will be reduced by $1 for every$3 of annual earnings over \$9,360. What amount of total annual earnings would result in a 50 percent reduction in the recipient's annual Social Security benefit? (Assume Social Security benefits are not counted as part of annual earnings.)
Director
Joined: 03 Jul 2003
Posts: 654
Followers: 2

Kudos [?]: 32 [0], given: 0

Annual earning = 9360 + 3*6000 = 27360
Eternal Intern
Joined: 07 Jun 2003
Posts: 468
Location: Lone Star State
Followers: 1

Kudos [?]: 47 [0], given: 0

Yeah, but show how you got 50 percent!

Victor
Manager
Joined: 25 Jun 2003
Posts: 95
Followers: 1

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

If X is the total income which yields only 50% of annual SS benifit ( which equals to 6000), we have

(X-9360) / 3 = 6000 ( For every 3 dollars in excess of 9360, reduction in benifit = 1 )

Or, X = 9360 + 3 * 6000 = 27630
_________________

Brainless

Similar topics Replies Last post
Similar
Topics:
2 The annual rent collected by a corporation from a certain 1 19 Sep 2008, 09:44
The annual rent collected by a corporation from a certain 1 19 Jan 2008, 06:15
A certain investment grows at an annual interest rate of 8%, 4 22 Nov 2007, 18:33
Of the final grades received by the students in a certain 2 21 Jan 2007, 11:10
The annual rent collected by a corporation from a certain 5 05 Aug 2006, 07:10
Display posts from previous: Sort by