A corporation that had $115.19 billion in profits for the

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A corporation that had $115.19 billion in profits for the [#permalink]

28 Aug 2006, 13:18

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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).

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[#permalink]

28 Aug 2006, 13:29

This should be straightforward...

Approx. 230 x 10^6 x 100/115 x 10^9 = 2 x 100/1000 = 0.2%

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But... [#permalink]

28 Aug 2006, 13:42

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

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Re: But... [#permalink]

28 Aug 2006, 13:50

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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Duh :) [#permalink]

28 Aug 2006, 14:16

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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Re: Duh :) [#permalink]

28 Aug 2006, 14:18

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]

31 Aug 2006, 23:03

mikki0000 wrote:

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) :lol:

Re: PP1 PS question - simple but confused! [#permalink] 31 Aug 2006, 23:03

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A corporation that had $115.19 billion in profits for the

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A corporation that had $115.19 billion in profits for the

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