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good one needs math let me know the answerwill share it soon

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Senior Manager
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good one needs math let me know the answerwill share it soon [#permalink] New post 25 Jun 2006, 01:06
In Millington, a city of 50,000 people, Mercedes Pedrosa, a realtor, calculated that a family with Millington’s median family income, $28,000 a year, could afford to buy Millington’s median-priced $77,000 house. This calculation was based on an 11.2 percent mortgage interest rate and on the realtor’s assumption that a family could only afford to pay up to 25 percent of its income for housing.
Which of the following corrections of a figure appearing in the passage above, if it were the only correction that needed to be made, would yield a new calculation showing that even incomes below the median family income would enable families in Millington to afford Millington’s median-priced house?
(A) Millington’s total population was 45,000 people
B) Millington’s median annual family income was $27,000
(C) Millington’s median-priced house cost $80,000
(D) The rate at which people in Millington had to pay mortgage interest was only 10 percent.
(E) Families in Millington could only afford to pay up to 22 percent of their annual income for
housing.
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 [#permalink] New post 25 Jun 2006, 01:10
D.....
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Re: good one needs math let me know the answerwill share it [#permalink] New post 25 Jun 2006, 14:06
sharadGmat wrote:
In Millington, a city of 50,000 people, Mercedes Pedrosa, a realtor, calculated that a family with Millington’s median family income, $28,000 a year, could afford to buy Millington’s median-priced $77,000 house. This calculation was based on an 11.2 percent mortgage interest rate and on the realtor’s assumption that a family could only afford to pay up to 25 percent of its income for housing.
Which of the following corrections of a figure appearing in the passage above, if it were the only correction that needed to be made, would yield a new calculation showing that even incomes below the median family income would enable families in Millington to afford Millington’s median-priced house?
(A) Millington’s total population was 45,000 people
B) Millington’s median annual family income was $27,000
(C) Millington’s median-priced house cost $80,000
(D) The rate at which people in Millington had to pay mortgage interest was only 10 percent.
(E) Families in Millington could only afford to pay up to 22 percent of their annual income for
housing.


D - what is the source? This question is not gmat-like
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 [#permalink] New post 25 Jun 2006, 14:11
D. And no, Math was not reqd :lol:
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 [#permalink] New post 26 Jun 2006, 02:01
I have seen this question and if I am right its from Barrons.

It doesnot require any math and it should be straight D.

But if my memory serves right, this is not the OA.
  [#permalink] 26 Jun 2006, 02:01
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good one needs math let me know the answerwill share it soon

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