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In may, mrs. Lee earnings were 60 percent of lee family's

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In may, mrs. Lee earnings were 60 percent of lee family's [#permalink] New post 05 Aug 2006, 14:36
In may, mrs. Lee earnings were 60 percent of lee family's total income. In June Mrs. Lee earned 20 percent more in May. If rest of the family's income was same both months, then in June, Mrs. Lee's earnings were approximately what percent of Lee family's total income?

a. 64%
b. 68%
c. 72%
d. 76%
e. 80%
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 [#permalink] New post 05 Aug 2006, 14:46
A 64%

Assume total income = 100 hence In may Lee made = 60, family made=40
The next month her income = 1.2(60) = 72 and family made same i.e. 40

Hence answer is 72/112 = 64%
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 [#permalink] New post 05 Aug 2006, 17:23
64%

It's a simple question of calculating the right percentages.
Assume $100 as the total family income initially - Lee's is $60
With 20% increase, Lee earns $72 and if rest of family is same, the total family income is $112
72/112 is the answer.
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 [#permalink] New post 05 Aug 2006, 18:23
How do you get the 112?
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 [#permalink] New post 05 Aug 2006, 23:51
flowers24 wrote:
How do you get the 112?

May:
Total = t
Lee's = 0.6t

June:
Increase in Lee's = 0.6 * 0.2 t = 0.12 t
Lee's total = 0.72t
Family's total = t + 0.12t

Answer = 72/112 = approx 0.64 i.e A
_________________

SAID BUSINESS SCHOOL, OXFORD - MBA CLASS OF 2008

  [#permalink] 05 Aug 2006, 23:51
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