Find all School-related info fast with the new School-Specific MBA Forum

It is currently 31 Aug 2016, 09:27
GMAT Club Tests

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Mike, Tom, and Walt are working as sales agents for an insurance compa

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Retired Moderator
User avatar
Joined: 18 Jul 2008
Posts: 994
Followers: 10

Kudos [?]: 173 [0], given: 5

Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 14 Nov 2008, 15:41
7
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

67% (02:41) correct 33% (02:27) wrong based on 241 sessions

HideShow timer Statistics

Mike, Tom, and Walt are working as sales agents for an insurance company. Previous month relationship between their commissions was \(\frac{MT}{6}=W\), where \(M\), \(T\), and \(W\) are the commissions received by Mike, Tom, and Walt respectively. If this month, Mike's commission is 60% more than previous month and Tom's commission is 50% less than previous month, then how much should Walt's commission change compared to the previous month to ensure that the relationship between their commissions remains the same?

A. Decrease by 12.5%
B. Decrease by 20%
C. Decrease by 22.5%
D. Increase by 12.5%
E. Increase by 15%

M06-36
[Reveal] Spoiler: OA
1 KUDOS received
Manager
Manager
avatar
Joined: 23 Jul 2008
Posts: 203
Followers: 1

Kudos [?]: 87 [1] , given: 0

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 14 Nov 2008, 15:44
1
This post received
KUDOS
1.6M X 0.5 T = 0.8MT=0.8 W/6 ==> hence W shud decrease sales by 20% so that the relation remains intact
Senior Manager
Senior Manager
avatar
Status: Do and Die!!
Joined: 15 Sep 2010
Posts: 326
Followers: 1

Kudos [?]: 363 [0], given: 193

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 26 Sep 2011, 05:05
Mike, Tom, and Walt are working as sales agents for an insurance company, and the commissions they receive can be expressed by the following formula: MT=W/6 . If Mike sells 60% more this month and Tom decreases his sales by 50%, how should Walt's performance change to ensure that the above relationship is true ?
_________________

I'm the Dumbest of All !!

Manager
Manager
avatar
Joined: 12 May 2011
Posts: 98
Location: United States
Concentration: Finance, Marketing
GMAT 1: 730 Q47 V44
GMAT 2: Q V
Followers: 2

Kudos [?]: 15 [0], given: 4

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 27 Sep 2011, 08:42
I believe this is the same question that has already been answered. But here's my take:

MT = W/6 => 6MT = W (1)

1.6M * 0.5T = Wx/6
0.8MT = Wx/6
4.8MT = Wx (2)

Comparing (1) and (2):

(1) 6MT = W
(2) 4.8MT = Wx

Since 4.8 is 4/5 of 6, x would need to be 4/5 for the equation to hold. Therefore, W needs to decrease by 20%, or answer choice B, for the equation to remain intact.
Intern
Intern
avatar
Joined: 27 Jan 2011
Posts: 4
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 27 Sep 2011, 12:32
Please tell me the official answer
Intern
Intern
avatar
Joined: 10 Mar 2013
Posts: 14
Followers: 0

Kudos [?]: 8 [0], given: 78

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 07 Dec 2014, 20:08
It is given that: MT = W/6....eq(1)

Now, M 's sales increased by 60 percent, whereas that of T decreased by 50 %.

Thus, Mnew= 1.6M, and Tnew = 0.5T. So, now lets assume that we increase or decrease W by X%. As the equation is still valid, we can represent it as:

1.6M * 0.5T = [ W (1 + X/100) ] / 6 ....where X is the percent increase or decrease

We can further simplify this as,
0.8MT = [W (1 + X/100) ] / 6 ]
From eq 1, however, W = 6MT
So,
0.8MT = [W (1 + X/100) ] / 6 ] => 0.8MT = [6MT (1+ X/100)] / 6
Further simplifying,

0.8MT/6MT * 6 = (1 + X/100) => (1 + X/100) = 0.8 => X/100 = -0.2 => X = -20 => Answer Choice B

Thus, we need to reduce W by 20% in order to maintain the equation. I have listed all the steps to clarify, otherwise the problem could be solved much faster.
Expert Post
2 KUDOS received
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 34527
Followers: 6313

Kudos [?]: 80079 [2] , given: 10027

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 08 Dec 2014, 04:05
2
This post received
KUDOS
Expert's post
1
This post was
BOOKMARKED
bigfernhead wrote:
Mike, Tom, and Walt are working as sales agents for an insurance company. Previous month relationship between their commissions was \(\frac{MT}{6}=W\), where \(M\), \(T\), and \(W\) are the commissions received by Mike, Tom, and Walt respectively. If this month, Mike's commission is 60% more than previous month and Tom's commission is 50% less than previous month, then how much should Walt's commission change compared to the previous month to ensure that the relationship between their commissions remains the same?

A. Decrease by 12.5%
B. Decrease by 20%
C. Decrease by 22.5%
D. Increase by 12.5%
E. Increase by 15%

M06-36


Previous month \(\frac{MT}{6}=W\);

This month \(1.6M*0.5T=0.8MT\). So, \(MT\) is decreased by 20% so \(W\) should also decrease by the same percent for the relationship to remain the same.

Answer: B.
_________________

New to the Math Forum?
Please read this: All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

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., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Manager
Manager
avatar
Joined: 13 Dec 2013
Posts: 58
GPA: 2.71
Followers: 0

Kudos [?]: 3 [0], given: 21

GMAT ToolKit User
Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 11 Dec 2014, 03:26
Bunuel wrote:
bigfernhead wrote:
Mike, Tom, and Walt are working as sales agents for an insurance company. Previous month relationship between their commissions was \(\frac{MT}{6}=W\), where \(M\), \(T\), and \(W\) are the commissions received by Mike, Tom, and Walt respectively. If this month, Mike's commission is 60% more than previous month and Tom's commission is 50% less than previous month, then how much should Walt's commission change compared to the previous month to ensure that the relationship between their commissions remains the same?

A. Decrease by 12.5%
B. Decrease by 20%
C. Decrease by 22.5%
D. Increase by 12.5%
E. Increase by 15%

M06-36


Previous month \(\frac{MT}{6}=W\);

This month \(1.6M*0.5T=0.8MT\). So, \(MT\) is decreased by 20% so \(W\) should also decrease by the same percent for the relationship to remain the same.

Answer: B.



Lost :(
shouldnt any change in MT be 6 times that of W?

\(MT/6=W\)

\(0.8MT=6W\)
1 KUDOS received
SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1858
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Followers: 38

Kudos [?]: 1666 [1] , given: 193

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 12 Dec 2014, 00:45
1
This post received
KUDOS
Simplifying the condition:

mt = 6w

6 is a constant; for the sake of the required calculation, it can be ignored.

mt = w ............... (1)

60% increase in m, 50% decrease in t

\(\frac{160}{100} m * \frac{50}{100} t = w\)

\(mt = \frac{100}{80} w\) .................. (2)

By comparing (1) & (2), increase in\(w = \frac{100}{80} - 1 = \frac{20}{80}\)

Required decrease = 20%

Answer = B
_________________

Kindly press "+1 Kudos" to appreciate :)

GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 09 Sep 2013
Posts: 11181
Followers: 512

Kudos [?]: 134 [0], given: 0

Premium Member
Re: Mike, Tom, and Walt are working as sales agents for an insurance compa [#permalink]

Show Tags

New post 03 Feb 2016, 11:42
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa   [#permalink] 03 Feb 2016, 11:42
    Similar topics Author Replies Last post
Similar
Topics:
There are five sales agents in a certain real estate office. One month nycgirl212 2 23 Aug 2016, 04:49
1 Experts publish their posts in the topic Mike started working at 18 and retires at 60. He spent the first 1/5 leeto 1 28 Feb 2016, 05:48
18 Experts publish their posts in the topic Mike and Emily need to build 2 identical houses. Mike, work carcass 15 14 Nov 2012, 18:25
50 Experts publish their posts in the topic Tom, working alone, can paint a room in 6 hours. Peter and docabuzar 8 27 Jan 2012, 13:19
8 Experts publish their posts in the topic Tom, working alone, can paint a room in 6 hours. Peter and KunalPratap 13 11 Aug 2011, 08:40
Display posts from previous: Sort by

Mike, Tom, and Walt are working as sales agents for an insurance compa

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.