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A corporation that had $115.19 billion in profits for the ye

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A corporation that had $115.19 billion in profits for the ye [#permalink] New post 19 Feb 2014, 00:14
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Difficulty:

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Question Stats:

65% (02:18) correct 35% (01:14) wrong based on 279 sessions
The Official Guide For GMAT® Quantitative Review, 2ND Edition

A corporation that had $115.19 billion in profits for the year paid out $230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? (Note: 1 billion = 10^9)

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

Problem Solving
Question: 101
Category: Arithmetic Percents; Estimation
Page: 74
Difficulty: 550


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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 19 Feb 2014, 00:15
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SOLUTION

A corporation that had $115.19 billion in profits for the year paid out $230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? (Note: 1 billion = 10^9)

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

We should find the value of \(\frac{230.10*10^6}{115.19*10^9}\approx{\frac{230*10^6}{115*10^9}}=2*10^{-3}=0.002=0.2%\).

Answer: E.
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COLLECTION OF QUESTIONS:
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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 19 Feb 2014, 02:05
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Option E.
1 billion=1000 million
=>we've to calculate,(230/115000)*100
Approx=0.2%
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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 19 Feb 2014, 20:25
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required answer = [employee benefit/profit] *100
=[(230.10 million)/(115.19 billion)]*100
=[(230.10*10^6)/(115.19*10^9)]*100
=(2/1000)*100
=0.2%

So answer is (E)
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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 22 Feb 2014, 04:57
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SOLUTION

A corporation that had $115.19 billion in profits for the year paid out $230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? (Note: 1 billion = 10^9)

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

We should find the value of \(\frac{230.10*10^6}{115.19*10^9}\approx{\frac{230*10^6}{115*10^9}}=2*10^{-3}=0.002=0.2%\).

Answer: E.
_________________

NEW TO MATH FORUM? PLEASE READ THIS: ALL YOU NEED FOR QUANT!!!

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RESOURCES: [GMAT MATH BOOK]; 1. Triangles; 2. Polygons; 3. Coordinate Geometry; 4. Factorials; 5. Circles; 6. Number Theory; 7. Remainders; 8. Overlapping Sets; 9. PDF of Math Book; 10. Remainders; 11. GMAT Prep Software Analysis ; 12. SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) ; 12. Tricky questions from previous years.

COLLECTION OF QUESTIONS:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS ; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 06 Jun 2014, 02:29
((23.010x10^7)/(115,19*10^9))x10^2 = you can cancel out all powers of 10 --> 23/115 = 1/5 = 0,2 %

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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 11 Jul 2014, 01:42
\(\frac{230.10 * 10^6}{115.19 * 10^9} * 100\)

\(= \frac{2}{10} = 0.2%\)

Answer = E
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Re: A corporation that had $115.19 billion in profits for the ye [#permalink] New post 24 Jul 2015, 10:22
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: A corporation that had $115.19 billion in profits for the ye   [#permalink] 24 Jul 2015, 10:22
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