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The 38 corporations that filed United States income tax

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The 38 corporations that filed United States income tax [#permalink] New post 25 Jul 2005, 01:41
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A
B
C
D
E

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The 38 corporations that filed United States income tax returns showing a net income of more than $100 million accounted for 53 percent of the total taxable income from foreign sources reported on all tax returns. Sixty percent of the total taxable income from foreign sources came from the 200 returns reporting income from 10 or more countries.

If the statements above are true, which of the following must also be true?

A. Most of the total taxable income earned by corporations with net income above $ 100 million was earned from foreign sources.

B. Wealthy individuals with large personal incomes reported 47 percent of the total taxable income from foreign sources.

C. Income from foreign sources amounted to between 53 and 60 percent of all reported taxable income.

D. Some of the corporations with net income above $ 100 million reported income from 10 or more countries.

E. Most of the tax returns showing income from 10 or more countries reported net income of more than $ 100 million.
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 [#permalink] New post 25 Jul 2005, 02:37
D.

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 [#permalink] New post 25 Jul 2005, 08:32
GA,
How much did it take you to answer the question?
I think, it is pretty difficult to answer such CRs with 1.1 minute limit.
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 [#permalink] New post 25 Jul 2005, 11:21
It took me close to 4 minutes! Do u keep 1.1 min as ur standard limit? I try to retain that limit only for SCs.

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 [#permalink] New post 25 Jul 2005, 12:14
gandy_achar wrote:
It took me close to 4 minutes! Do u keep 1.1 min as ur standard limit? I try to retain that limit only for SCs.

GA

Yes, it is my limit for CR, because of RC which takes on average 3-5minutes to solve, each.
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 [#permalink] New post 25 Jul 2005, 12:33
What is answer ?
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 [#permalink] New post 25 Jul 2005, 12:37
What is answer ?
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 [#permalink] New post 25 Jul 2005, 13:51
My answer is "D" and it took me hardly 30 secs to answer ;)
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 [#permalink] New post 25 Jul 2005, 14:04
shalinikhatri wrote:
My answer is "D" and it took me hardly 30 secs to answer ;)

I'm very proud of you :-D
Could you explain your logical reasoning?
It took me more than 30 seconds just to understand what the passage said.
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 [#permalink] New post 25 Jul 2005, 16:51
You guys are so right. I read this chunk of turd 3 times and still dont understand what he heck is it saying.

Anyway, I did POE and eliminated all the EXTREME choices which used MOST as keyword..... and eliminating WEALTHY individual choice because that was easy to eliminate. Then was able to narrow down to one, D in this case as C used another extreme choice (ALL)..
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 [#permalink] New post 25 Jul 2005, 18:23
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 [#permalink] New post 25 Jul 2005, 20:14
D it is...took a cool 2 + mins for solving....
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 [#permalink] New post 26 Jul 2005, 09:43
mana YAMA

4 mins but right answer D
drawing pie graph is most useful

ball buster CR
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 [#permalink] New post 27 Jul 2005, 13:17
Has to be D.
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 [#permalink] New post 27 Jul 2005, 14:30
took me a little more than a min to solve.

I had to read it twice though.

The second time around... I drew a box, and called it "total taxable income from foreign sources " and drew two arrows. One representing the 38 companies having > 100 million in taxable income and the other arrow representing the 200 companies.

Once that became clear, I was able to discard the first three choices, very quickly, until I hit upon D, and knew instantly that it was right.

BTW... I try to set apart a min for SCs, 90 seconds at most for CRs... and the rest for RC's. Still finetuning the timing part. 1.1 mins for CRs.. is a little risky.
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 [#permalink] New post 27 Jul 2005, 14:44
I answered D, Took me 3.5 min, I answered D, only because I could eliminate all the other answers, I still cant figure out why D is correct..
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 [#permalink] New post 28 Jul 2005, 12:38
total taxable income from foreign sources is 100%. 53% show a net income of more than 100 million. 60% report an income from 10 or more countries. so there is an overlap of 13%. when you draw a venn diagram, it should be clear. so now we know that there is an intersection and that makes clear why D) is right.
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 [#permalink] New post 29 Jul 2005, 02:07
christoph wrote:
total taxable income from foreign sources is 100%. 53% show a net income of more than 100 million. 60% report an income from 10 or more countries. so there is an overlap of 13%. when you draw a venn diagram, it should be clear. so now we know that there is an intersection and that makes clear why D) is right.


Perfect, chris! Perfect. That was my own thought even though (E) came quite close. It's pretty simple logic (intersection of sets, an overlap and a perfectly used word, 'some').
  [#permalink] 29 Jul 2005, 02:07
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