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If Pat saved $600 of his earnings last month, how much did [#permalink]
 30 Jul 2012, 02:23
Question Stats:
88% (01:41) correct
11% (00:57) wrong based on 3 sessions
The Official Guide for GMAT® Review, 13th Edition - Quantitative Questions ProjectIf Pat saved $600 of his earnings last month, how much did Pat earn last month? (1) Pat spent 1/2 of his earnings last month for living expenses and saved 1/3 of the remainder. (2) Of his earnings last month, Pat paid twice as much in taxes as he saved. Practice Questions
Question: 10
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
30 Jul 2012, 02:23
SOLUTIONIf Pat saved $600 of his earnings last month, how much did Pat earn last month?Let E be Pat's earnings last month. (1) Pat spent 1/2 of his earnings last month for living expenses and saved 1/3 of the remainder. Pat spent \frac{E}{2}, so E-\frac{E}{2}=\frac{E}{2} remained. We are told that 1/3 of that amount, or \frac{E}{6}, was saved. Since we know that Pat saved $600 of his earnings last month, then we have that \frac{E}{6}=600 --> E=3,600. Sufficient. (2) Of his earnings last month, Pat paid twice as much in taxes as he saved. Since Pat saved $600 of his earnings last month, then he paid 2*$600=$1,200 in taxes. But this info is not sufficient to determine Pat's earnings last month. Answer: A.
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
30 Jul 2012, 20:41
I'm going to go with . He spent 1/2 of his earnings and he saved 1/3 of the remaining 1/2 --> 1/6E = 600
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
31 Jul 2012, 02:32
The question asks us to find the Pat's earnings. Let us assume the Variable E for his earnings.
Statement (1): From the Information given we can set up the equation: (1/3) (E*(1/2))= 600. E can be calculated (E= 3600). -> SUFFICIENT
Statement (2): This statement only tells us that the amount of tax he payed was twice the amount of money he saved. This information does not help us calculate Pat's earnings.-> NOT SUFFICIENT
Ans(A).
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
03 Aug 2012, 06:24
SOLUTIONIf Pat saved $600 of his earnings last month, how much did Pat earn last month?Let E be Pat's earnings last month. (1) Pat spent 1/2 of his earnings last month for living expenses and saved 1/3 of the remainder. Pat spent \frac{E}{2}, so E-\frac{E}{2}=\frac{E}{2} remained. We are told that 1/3 of that amount, or \frac{E}{6}, was saved. Since we know that Pat saved $600 of his earnings last month, then we have that \frac{E}{6}=600 --> E=3,600. Sufficient. (2) Of his earnings last month, Pat paid twice as much in taxes as he saved. Since Pat saved $600 of his earnings last month, then he paid 2*$600=$1,200 in taxes. But this info is not sufficient to determine Pat's earnings last month. Answer: A.
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
05 Oct 2012, 04:20
Hi Bunuel,
I was just researching on this question and got your explanation. I got why (A) is correct. But I didn't understand B. I thought (B) was also the correct answer, so eventually i selected D, which was incorrect.
So, here's my reasoning for (B). I want to know where i am going wrong.
Pat saved $600, and paid $1200 for taxes. If Earnings= Taxes + Savings, then Earnings= $1800.
Were there any expenses that i could have assumed in (B) ? Because in (A), the explanation says there were expenses, so (A) is clear.
Thanks & Regards
Vinni
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
05 Oct 2012, 04:30
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vinnik wrote: Hi Bunuel,
I was just researching on this question and got your explanation. I got why (A) is correct. But I didn't understand B. I thought (B) was also the correct answer, so eventually i selected D, which was incorrect.
So, here's my reasoning for (B). I want to know where i am going wrong.
Pat saved $600, and paid $1200 for taxes. If Earnings= Taxes + Savings, then Earnings= $1800.
Were there any expenses that i could have assumed in (B) ? Because in (A), the explanation says there were expenses, so (A) is clear.
Thanks & Regards
Vinni (2) is not sufficient because we don't know how much of his earnings last month Pat spent for living expenses.
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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. NEW!!!
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
05 Oct 2012, 04:49
Bunuel wrote:
(2) is not sufficient because we don't know how much of his earnings last month Pat spent for living expenses.
Thanks Bunuel. Got your point Regards Vinni
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
05 Oct 2012, 06:21
Bunuel, I got your point. But one more question. As it is a DS question, we are not given anything about expenses in B. So, why there is a need to assume living expenses.
Looking forward to your reply.
Regards
Vinni
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
05 Oct 2012, 06:24
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Re: If Pat saved $600 of his earnings last month, how much did [#permalink]
05 Oct 2012, 06:47
Bunuel wrote: It's the other way around: if you are saying that (2) is sufficient, then you are assuming that there are no living expenses at all. Plus, assuming that is against common sense and the first statement. Hmm. okay. I got your point. Thanks Vinni
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Re: If Pat saved $600 of his earnings last month, how much did
[#permalink]
05 Oct 2012, 06:47
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