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Manager
Joined: 26 Apr 2010
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$686,000 in bonus money is to be divided among 6 employees. No employe
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26 Nov 2010, 13:52
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64% (02:09) correct 36% (02:49) wrong based on 231 sessions
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Source: Knewton $686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive? (A) $96,000 (B) $97,000 (C) $98,000 (D) $99,000 (E) $100,000
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Re: $686,000 in bonus money is to be divided among 6 employees
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13 Feb 2012, 20:45
priyankaparanjape wrote: $686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?
A. $96,000 B. $97,000 C. $98,000 D. $99,000 E. $100,000
I often struggle with such questions. I can understand that for minimum value , we need to consider highest salary 20%, however I cannot understand how to put other 4 intermediate values. When I read the explanation I understand, but do not seem to apply it while solving. Can someone pls help in how to think through such problems.
Thanks. Since "no employee is to receive a bonus more than 20% greater than the bonus received by any other employee", then the bonuses of 6 employees must be in the range: \($x\) and \($1.2x\). So we want to minimize \(x\). To minimize \(x\) we should make only one employee to receive that bonus (minimum possible) and the rest 5 employees to receive \(1.2x\) bonus (maximum possible). \(x+5*1.2x=686\) > \(7x=686\) > \(x=98\). Answer: C. General rule for such kind of problems: to maximize one quantity, minimize the others; to minimize one quantity, maximize the others. Similar questions:acertaincitywithpopulationof132000istobedivided76217.html?hilit=population#p1035185shaggyhastolearnthesame71hiraganacharactersand126948.htmlOther min/max questions:PS: search.php?search_id=tag&tag_id=63DS: search.php?search_id=tag&tag_id=42Hope it helps.
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Re: $686,000 in bonus money is to be divided among 6 employees. No employe
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26 Nov 2010, 14:03
The question stem states that the difference between the minimum and maximum bonus may not exceed 20%. To determine the minimum possible bonus for an employee you have to assume that the other 5 employees obtain the maximum possible bonus.
If x denotes the minimum possible bonus and 1.2x denotes the maximum possible bonus you can set up the equation as follows:
x + 5*1.2x = $686,000 => 7x = $686,000 => x = $98'000
Hence, solution c is correct.



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Re: $686,000 in bonus money is to be divided among 6 employees. No employe
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26 Nov 2010, 19:15
Stanford2012 has explained the solution perfectly. The only thing I want to highlight here is the concept. Let's say you have a fixed sum of $100 that needs to be distributed among 5 people. If you want to maximize one person's share, you need to give everyone else the minimum that you can. e.g. the question says each person must receive at least $10, what is the maximum one person can receive? Since you want to maximize one person's share, you should give everyone else the minimum possible i.e. $ 10. You give $10 to each of the other 4 people and are left with $60, the maximum that you can give to one guy. Similarly, if you want to minimize someone's share, you should give everyone else the maximum possible. In your question here, a fixed amount has to be distributed among 6 people and one person's minimum share needs to be found. A person will receive minimum (say $x) , when everyone else gets the maximum that they can (that will be $6x/5).
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$686,000 in bonus money is to be divided among 6 employees
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13 Feb 2012, 19:34
$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?
A. $96,000 B. $97,000 C. $98,000 D. $99,000 E. $100,000
I often struggle with such questions. I can understand that for minimum value , we need to consider highest salary 20%, however I cannot understand how to put other 4 intermediate values. When I read the explanation I understand, but do not seem to apply it while solving. Can someone pls help in how to think through such problems.
Thanks.



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Re: $686,000 in bonus money is to be divided among 6 employees
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12 Jun 2014, 20:11
Hi Bunuel,
I am confused. Why are we minimizing 1 persons bonus and maxing out all the other 5?? Shouldnt we be minimizing 1 persons bonus, maxing only 1 other persons bonuses and keeping the 4 in the middle at 1/6 of the total bonus. So let 686,000/6=@ @ is what everyone should get in an even world. So for the first guy, whom we eant to minimize, i am going to deduct x from his @. For the 6th guy, the guy we want to max out where going to give him x, but such that the following condition is met.
(@x)1.2=(@+x) .2@=2.2x .2(686,000/6)/2.2=10393.0=x Now the first guy, the minimum bonus guy is going to get @x=11433310393=103,940 Where am I going wrong?
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Re: $686,000 in bonus money is to be divided among 6 employees
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13 Jun 2014, 00:56



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Re: $686,000 in bonus money is to be divided among 6 employees
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Re: $686,000 in bonus money is to be divided among 6 employees &nbs
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