In May, Mrs. Smith's earnings were 60% of the Smith family's

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In May, Mrs. Smith's earnings were 60% of the Smith family's [#permalink]

20 Oct 2006, 01:59

In May, Mrs. Smith's earnings were 60% of the Smith family's total income. In June Mrs. Smith earned 20 percent more than in May. If the rest of the family's income was the same both monts, then, in June, Mrs. Smith's earnings were approximately what percent of the Smith family's total income?

64%
68%
72%
76%
80%

OA is 64%.

But i get 72%. I don't know where i went wrong in my computation (below).

F = family income each month
M = Mrs Smith's income for May
J = Mrs Smith's income for June

May: 0.60F = M
June: J = 1.2M

J = 1.2 (0.60F)
J = 0.72F

J/F = .72

Joined: 15 Jun 2006

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20 Oct 2006, 04:21

In your calculation you fail to take into account that the income of the rest of the family stays the same, BUT the total family income increases. In your calculation it's vice versa.

The correct calculation should look like this:
(0.6*1.2)/(0.6*1.2+0.4)=0.72/1.12=0.64

Senior Manager

Joined: 23 May 2005

Posts: 266

Location: Sing/ HK

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20 Oct 2006, 23:07

Sheesh! That's tricky... I dunno how i'm going to get a 700 score on this freakin exam if i keep missing out on those details...

So frustrating.

... Thanks...

Joined: 15 Jun 2006

Posts: 1124

Schools: Chicago Booth

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21 Oct 2006, 02:23

Hermione wrote:

Sheesh! That's tricky... I dunno how i'm going to get a 700 score on this freakin exam if i keep missing out on those details...

So frustrating.

... Thanks...

No worries! I'm sure you are going to do fine, just keep up the hard work :-D

[#permalink] 21 Oct 2006, 02:23

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In May, Mrs. Smith's earnings were 60% of the Smith family's

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In May, Mrs. Smith's earnings were 60% of the Smith family's

In May, Mrs. Smith's earnings were 60% of the Smith family's

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