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

 It is currently 04 Jul 2015, 07:50

### 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

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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# Two men X and Y started working for a certain company at

Author Message
TAGS:
CEO
Joined: 15 Aug 2003
Posts: 3467
Followers: 61

Kudos [?]: 718 [0], given: 781

Two men X and Y started working for a certain company at [#permalink]  13 Sep 2003, 03:14
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
43. Two men X and Y started working for a certain company at similar
jobs on January 1, 1950. X asked for an initial salary of $300 with an annual increment of$ 30. Y asked for an initial salary of $200 with a raise of$ 15 every six months. Assume that the arrangements remained unaltered till December 31, 1959. Salary is paid on the last day of the month. What is the total amount paid to them as salary during the period?

a) $93,300 b)$ 93,200
c) $93,100 d)$ 93,150
e) $93,175 CEO Joined: 15 Aug 2003 Posts: 3467 Followers: 61 Kudos [?]: 718 [0], given: 781 [#permalink] 13 Sep 2003, 04:40 stolyar wrote: we have two ariphmetical progressions (X) the period is 10 years; x1=300 for the first year, +30 for each of the next 9 years. x10=300+9*30=300+270=570. The sum=[300+570]*10/2=4350 (Y) the period is 20 half-years; y1=200 for the first half-year; y20=200+19*15=200+285=485; the sum=[200+485]*20/2=6850 the total is 11200. no such options. I have assumed that 200 and 300 are yearly salaries. Let's make them monthly ones. (X) x1=3600; x10=3600+270=3870; the sum=[3600+3870]*10/2=37350 (Y) y1=2400; y20=2400+285=2685; the sum=[2400+2685]*20/2=50850 the total is 88200. no such option again. I do not know what to do... Actually i wanted to know if we can do this without a "formula". Anyways... The problem does mention that the salary is paid at the end of the month The formula for SUM of an AP is => N/2 *[ 2*a + (N-1) *d] X : a = 300, d = 30, N = 10; S1 = 5(600 + 9 ├Ч (30 ├Ч 12)) = 870 ├Ч 5 ├Ч 12 = 52,200. Y : a = 200, d = 15, N = 20; S2 = 10(400 + 19 ├Ч (15 ├Ч 6)) = 41,100. Total amount = 52,200 + 41,100 = 93,300 Thanks Praetorian Senior Manager Joined: 22 May 2003 Posts: 334 Location: Uruguay Followers: 1 Kudos [?]: 41 [0], given: 0 [#permalink] 15 Sep 2003, 06:47 What is an AP? And where does this formula come from? Thanks Martin CEO Joined: 15 Aug 2003 Posts: 3467 Followers: 61 Kudos [?]: 718 [0], given: 781 [#permalink] 15 Sep 2003, 07:21 MartinMag wrote: What is an AP? And where does this formula come from? Thanks Martin Martin A.P is arithmetic progression 6,12,18,24,30 are all in A.P... The next # is obtained by addition of a fixed #..that is 6. Here$30 is a fixed increment for X and \$ 20 is a fixed increment for Y..

Now, this was a question..where i wanted to see if we can use traditional methods to solve this one.. but i guess no...

Sum of an AP = n/2 * [ 2*a + ( n-1) d ]

First term a1 = 6
Number of terms n = 5
Common increment d = 6

Sum = 90

To find the 100th term in the series...

n=100

a100 = a1 + (n-1)*d
= 6 + 99*6
a100 = 600

Hope that helps

Thanks
Praetorian
Similar topics Replies Last post
Similar
Topics:
10 Five men started working on a job that was to be finished in hundred d 8 31 Aug 2014, 00:09
31 Two trains, X and Y, started simultaneously from opposite en 12 27 Feb 2014, 06:06
24 Two trains, X and Y, started simultaneously from opposite 8 30 Nov 2010, 05:30
8 Distance between A and B is 72 miles. Two men started walkin 5 23 Dec 2009, 22:21
2 Working alone, Printers X, Y, and Z can do a certain printin 3 25 Jun 2006, 14:10
Display posts from previous: Sort by

# Two men X and Y started working for a certain company at

 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®.