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

It is currently 22 Oct 2014, 06:19

Close

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
Your Progress

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

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A certain social security recipient will receive an annual

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Manager
Manager
User avatar
Joined: 09 Feb 2003
Posts: 82
Location: Canada
Followers: 1

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

A certain social security recipient will receive an annual [#permalink] New post 28 Nov 2003, 10:28
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

100% (01:01) correct 0% (00:00) wrong based on 0 sessions
A certain social security recipient will receive an annual benefit of $12,000 provided he has annual earnings of $9360 or less but the benefit will be reduced by $1 for every $3 for annual earnings over 9360. What amount of total annual earnings would result in a fifty percent reduction in the recipientтАЩs annual social security benefit ? ( assume social security benefits are not counted as part of annual earnings)
a.15,360
b.17,360
c.18,000
d.21,360
e.27,360

Please explain your answer
Thanx
Sarnia
Intern
Intern
User avatar
Joined: 24 Nov 2003
Posts: 30
Location: Champaign
Followers: 0

Kudos [?]: 1 [0], given: 0

 [#permalink] New post 28 Nov 2003, 16:36
If annual earning is <= $9360 then SS benefit is $12000
For every $3 >9360 in earnings, recepient looses $1 from the $12000

Now the person were to loose 50% of the SS benefits, i.e 0.5*12000=6000
so the person would have to earn 6000*3=18000 above the 9360 figure.

hence 18000+9360=$27,360
  [#permalink] 28 Nov 2003, 16:36
    Similar topics Author Replies Last post
Similar
Topics:
Social researchers have calculated that the annual cost to U fameatop 3 26 Aug 2013, 05:34
A certain Social Security recipient will receive an annual b banksy 4 17 Mar 2011, 13:10
A certain Social Security recipient will receive an annual Jamesk486 1 31 May 2007, 08:48
The suggested changes in the social security plan would GMATT73 3 03 Dec 2005, 03:56
1 One idea for Social Security reform was to disallow payments Questor 8 21 Jan 2005, 23:56
Display posts from previous: Sort by

A certain social security recipient will receive an annual

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.