GMAT PP PS - Simplied Income tax : PS Archive
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GMAT PP PS - Simplied Income tax

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GMAT PP PS - Simplied Income tax [#permalink]

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08 Jun 2006, 21:27
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I have trouble understanding the answer to this. Where is the variable for Country R's currency?
Any detail explanation is appreciated.
Thank you in advance

Paul
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08 Jun 2006, 22:57
2% of I = I/50
100 units of R currency = 100 (Unit basically denotes one)
1% of I = I/100

Av = 100 + (I/100) / 2 = 10000 + I / 200

Sum = I/50 + 10000 + I / 200
= 10000 + 5I / 200
= 50 + I/40

I hope it is clear now.......
08 Jun 2006, 22:57
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GMAT PP PS - Simplied Income tax

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