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# Last year if 97 percent of the revenues of a company came fr

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Last year if 97 percent of the revenues of a company came fr [#permalink]

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19 Jan 2014, 22:52
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The Official Guide For GMAT® Quantitative Review, 2ND Edition

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues? (A)$ 1,350,000
(B) $1,500,000 (C)$ 4,500,000
(D) $15,000,000 (E)$150,000,000

Problem Solving
Question: 49
Category: Arithmetic Percents
Page: 68
Difficulty: 600

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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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19 Jan 2014, 22:52
SOLUTION

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues? (A)$ 1,350,000
(B) $1,500,000 (C)$ 4,500,000
(D) $15,000,000 (E)$150,000,000

If 97 percent of the revenues came from domestic sources, then the remaining 3 percent came from foreign sources.

Thus we have that 0.03*{total revenue} = 450,000 --> {total revenue} = 15,000,000.

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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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20 Jan 2014, 04:12
3% of the Revenue = $450,000 $$\frac{3}{100}*R = 450000$$ Thus R = 15,000,000 Manager Joined: 11 Jan 2014 Posts: 98 Concentration: Finance, Statistics GMAT Date: 03-04-2014 GPA: 3.77 WE: Analyst (Retail Banking) Followers: 3 Kudos [?]: 56 [0], given: 11 Re: Last year if 97 percent of the revenues of a company came fr [#permalink] ### Show Tags 20 Jan 2014, 04:16 450,000 / 0.03 = 15,000,000. Answer is (D). Manager Joined: 09 Oct 2011 Posts: 120 Location: India Concentration: Technology, Entrepreneurship GMAT 1: 760 Q50 V42 GPA: 3 Followers: 3 Kudos [?]: 69 [0], given: 7 Re: Last year if 97 percent of the revenues of a company came fr [#permalink] ### Show Tags 20 Jan 2014, 05:17 Bunuel wrote: The Official Guide For GMAT® Quantitative Review, 2ND Edition Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling$450,000, came from foreign sources, what was the total of the company's revenues?

(A) $1,350,000 (B)$ 1,500,000
(C) $4,500,000 (D)$ 15,000,000
(E) $150,000,000 Concept to Note: - A whole part is represented by 1 or 1/1 in fractions and 100% when it comes to percentages. Keeping the above concept about percentages in mind if 97% of revenues of the company came from domestic sources, the remaining sources of revenue would account for 100%-97% = 3%. we know that 3% of total revenue is 450,00. We need to find what the total revenue is or what 100 percent is! Let us assume our Revenue is R. Algebrically - 3% of R = 450,000 3/100 * R = 450,000 R = 450,000 * (100/3) = 150,000 * 100 = 15,000,000 or 15 Million! This question is very simple and might appear at 500 level. The key in solving such a question would be to solve it fast enough; perferably within a minute or there about so you can save up time for the harder questions that might appear later in the exam. As soon as you see 45 in the numerator and 3 in the denominator, 15 should start running in your mind because 45/3 = 15. Stuff like this helps improve on speed. If you look at the question and aren't sure how percentages work, your first thing to do is to look up a good source of GMAT content like MGMAT booklets and go through the percentages chapter and evalute your progress on percentages after you've had a thorough read. Rinse, wash...repeat if you still aren't clear on something! _________________ Paras. If you found my post helpful give KUDOS!!! Everytime you thank me but don't give Kudos, an Angel dies! My GMAT Debrief: I am now providing personalized one to one GMAT coaching over Skype at a nominal fee. Hurry up to get an early bird discount! Send me an IM to know more. Intern Joined: 20 Jan 2014 Posts: 5 Followers: 0 Kudos [?]: 0 [0], given: 1 Re: Last year if 97 percent of the revenues of a company came fr [#permalink] ### Show Tags 20 Jan 2014, 06:29 15 million. 3% of X = 450,000 Hence, 15,00,000. Careful with the no. of zeros! Intern Joined: 13 Feb 2013 Posts: 20 Location: United States Concentration: Finance, General Management Schools: HBS '16 GMAT Date: 07-28-2014 GPA: 3.75 WE: Consulting (Computer Software) Followers: 1 Kudos [?]: 6 [1] , given: 2 Re: Last year if 97 percent of the revenues of a company came fr [#permalink] ### Show Tags 20 Jan 2014, 19:14 1 This post received KUDOS Since 3% of the total revenue is$4,50,000.
1% of total revenue is 4,50,000/3 = 1,50,000
100% of total revenue will be = 1,50,000*100 = 15,000,000

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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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20 Jan 2014, 20:20
Remaining revenues =3%= 450,000
=> (3/100) * TR = 450,000; TR is the Total Revenue
TR = (450,000 * 100)/3
TR = 15,000,000 = 15 million

Ans is (D)
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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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23 Jan 2014, 05:31
Bunuel wrote:

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues? (A)$ 1,350,000
(B) $1,500,000 (C)$ 4,500,000
(D) $15,000,000 (E)$150,000,000

let total revenues be X
then 3% of X=450000( given )
hence X= 15,000,000
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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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23 Jan 2014, 21:56
Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues? (A)$ 1,350,000
(B) $1,500,000 (C)$ 4,500,000
(D) $15,000,000 (E)$150,000,000

The way I do these kind of problems is -

3 is 450, 000. so how much will be 100? ( since total revenue of the company is asked)

3 ----- 450,000
100---- ??

100 * 450,000/3

= 15,000,000
Option D
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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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25 Jan 2014, 11:00
SOLUTION

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues? (A)$ 1,350,000
(B) $1,500,000 (C)$ 4,500,000
(D) $15,000,000 (E)$150,000,000

If 97 percent of the revenues came from domestic sources, then the remaining 3 percent came from foreign sources.

Thus we have that 0.03*{total revenue} = 450,000 --> {total revenue} = 15,000,000.

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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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23 Apr 2014, 03:45
3% ---------- 4,50,000;
97% --------- ??????

x= 15,000,000;
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Re: Last year if 97 percent of the revenues of a company came fr [#permalink]

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