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Last year if Arturo spent a total of $12,000 on his mortgage [#permalink]
07 Dec 2012, 06:54

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Difficulty:

35% (medium)

Question Stats:

59% (02:12) correct
41% (01:44) wrong based on 194 sessions

Last year, if Arturo spent a total of $12,000 on his mortgage payments, real estate taxes, and home insurance, how much did he spend on his real estate taxes?

(1) Last year, the total amount that Arturo spent on his real estate taxes and home insurance was 33 1/3 percent of the amount that he spent on his mortgage payments.

(2) Last year, the amount that Arturo spent on his real estate taxes was 20 percent of the total amount he spent on his mortgage payments and home insurance.

Re: Last year if Arturo spent a total of $12,000 on his mortgage [#permalink]
07 Dec 2012, 07:00

Expert's post

Last year, if Arturo spent a total of $12,000 on his mortgage payments, real estate taxes, and home insurance, how much did he spend on his real estate taxes?

Let M, R, and H be the amounts that Arturo spent on mortgage payments, real estate taxes, and home insurance, respectively.

Given: M + R + H = 12,000. Question: R??

(1) Last year, the total amount that Arturo spent on his real estate taxes and home insurance was 33 1/3 percent of the amount that he spent on his mortgage payments --> 33 1/3 percent is 1/3 rd, thus given that R + H = M/3 --> M + R + H = M + M/3 = 12,000 --> M = 9,000 --> R + H = 12,000 - 9,000 = 3,000. R can take more than one value. Not sufficient.

(2) Last year, the amount that Arturo spent on his real estate taxes was 20 percent of the total amount he spent on his mortgage payments and home insurance --> given that R = (M + H)/5 --> 5R = M + H --> M + R + H = 5R + R = 12,000 --> 6R = 12,000 --> R = 2,000. Sufficient.

Re: Last year if Arturo spent a total of $12,000 on his mortgage [#permalink]
26 May 2014, 18:43

Walkabout wrote:

Last year, if Arturo spent a total of $12,000 on his mortgage payments, real estate taxes, and home insurance, how much did he spend on his real estate taxes?

(1) Last year, the total amount that Arturo spent on his real estate taxes and home insurance was 33 1/3 percent of the amount that he spent on his mortgage payments.

(2) Last year, the amount that Arturo spent on his real estate taxes was 20 percent of the total amount he spent on his mortgage payments and home insurance.

Problem: Tax+Morg+Ins=T+M+I=12 000

(1) T+I=331/3% x (12 000 -T -I) -------- (M=12 000 - T - I) Not sufficient.

Re: Last year if Arturo spent a total of $12,000 on his mortgage [#permalink]
28 May 2014, 11:48

Expert's post

Quick version:

1) This statement lumps together T and I, so we'll never find T. Insufficient.

2) This relates T to the rest. T = .20(M+I). The ratio of T to other is 1 to 5, so the ratio of T to total is 1 to 6. We can now solve (1/6 of $12,000 is $2,000), but as soon as we see that we know the relation of T to the other parts (when we already know the total), we can stop. Sufficient.

_________________

Dmitry Farber | Manhattan GMAT Instructor | New York