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Manager
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A corporation that had $115.19 billion in profits for the [#permalink] ### Show Tags 28 Aug 2006, 12:18 00:00 Difficulty: (N/A) Question Stats: 0% (00:00) correct 0% (00:00) wrong based on 0 sessions ### HideShow timer Statistics This topic is locked. If you want to discuss this question please re-post it in the respective forum. A corporation that had$115.19 billion in profits for the first year paid out $230.10 million in employee benefits. Approximately what percentage of the profits were the benefits? (1 billion = 10^9) (a) 50% (b) 20% (c) 5% (d) 2% (e) 0.2% I was sure of my answer... until the official answer turned out different!! will post the OA by end of day (EST). VP Joined: 02 Jun 2006 Posts: 1267 Followers: 2 Kudos [?]: 80 [0], given: 0 ### Show Tags 28 Aug 2006, 12:29 This should be straightforward... Approx. 230 x 10^6 x 100/115 x 10^9 = 2 x 100/1000 = 0.2% Manager Joined: 09 Aug 2005 Posts: 72 Followers: 1 Kudos [?]: 2 [0], given: 0 But... [#permalink] ### Show Tags 28 Aug 2006, 12:42 Thanks, Haas. Thats the OA. But what PERCENTAGE of the profits are the benefits? Isnt that = benefits/ profits * 100? That would give me 20%. Am I mistaking the wording of the question? MG VP Joined: 02 Jun 2006 Posts: 1267 Followers: 2 Kudos [?]: 80 [0], given: 0 Re: But... [#permalink] ### Show Tags 28 Aug 2006, 12:50 I think you missed the$230.10 Million of Benefits and 115.10 Billion in profits.

Million = 10^6
Billion = 10^9

Benefits/Profits x 100 = 230 x 10^6 x 100 /115 x 10^9
= 2 x 100/1000 = 0.2%

mikki0000 wrote:
Thanks, Haas. Thats the OA.

But what PERCENTAGE of the profits are the benefits?
Isnt that = benefits/ profits * 100?

That would give me 20%.

Am I mistaking the wording of the question?

MG
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28 Aug 2006, 13:16
Sometimes I get stuck on the stupidest things... I multiplied it with 100 twice during my calculations and got it wrong!!

Thanks!
MG
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28 Aug 2006, 13:18
Most of us have those days... I had one yesterday when I did
8-2 = 4 and continued working to get the wrong answer, ofcourse!!

Hang in and stick to working on problems...

mikki0000 wrote:
Sometimes I get stuck on the stupidest things... I multiplied it with 100 twice during my calculations and got it wrong!!

Thanks!
MG
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Re: PP1 PS question - simple but confused! [#permalink]

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31 Aug 2006, 22:03
mikki0000 wrote:
A corporation that had $115.19 billion in profits for the first year paid out$230.10 million in employee benefits. Approximately what percentage of the profits were the benefits? (1 billion = 10^9)

(a) 50%
(b) 20%
(c) 5%
(d) 2%
(e) 0.2%

I was sure of my answer... until the official answer turned out different!! will post the OA by end of day (EST).

Late but (E)

To reinforce the concept Mikki, what percent of the total US GDP ~$10 trillion is Matt's income (approx$1) ??
Re: PP1 PS question - simple but confused!   [#permalink] 31 Aug 2006, 22:03
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