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A baseball player signs a new contract that includes a guaranteed 10 p

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A baseball player signs a new contract that includes a guaranteed 10 p [#permalink]

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New post 10 Jun 2016, 04:17
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  55% (hard)

Question Stats:

57% (01:24) correct 43% (01:10) wrong based on 96 sessions

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A baseball player signs a new contract that includes a guaranteed 10 percent increase in salary over his old contract, plus a performance bonus of up to $500. If he earns the maximum possible performance bonus, his new salary including bonus will be equivalent to a 12 percent increase over his old salary. Assuming he earns the full bonus, what will his total new salary be, in dollars?

(A) 24,500

(B) 25,000

(C) 27,500

(D) 28,000

(E) 28,500

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A baseball player signs a new contract that includes a guaranteed 10 p [#permalink]

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New post 10 Jun 2016, 04:21
AbdurRakib wrote:
A baseball player signs a new contract that includes a guaranteed 10 percent increase in salary over his old contract, plus a performance bonus of up to $500. If he earns the maximum possible performance bonus, his new salary including bonus will be equivalent to a 12 percent increase over his old salary. Assuming he earns the full bonus, what will his total new salary be, in dollars?

(A) 24,500

(B) 25,000

(C) 27,500

(D) 28,000

(E) 28,500



GIVEN = 12% = 10% +500................2% = 500....................100% = 25000....
so old salary = 25000...
new salary = 25000+10% 0f 25000+500 = 25000+2500+500 = 28000

D
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Re: A baseball player signs a new contract that includes a guaranteed 10 p [#permalink]

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New post 31 Jul 2016, 05:54
salary(new)=1.1salary(old)+bonus=1.1salary(old)+500 this equation is equal to 1.12salary(old) hence 1.1salary(old)+500=1.12salary(old) ==> -0.02salary(old)=-500 ==> salary(old)=25000 Hence salary(new)=27500+500=28000 Answer D
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Re: A baseball player signs a new contract that includes a guaranteed 10 p [#permalink]

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New post 31 Jul 2016, 09:24
Original salary = X.
(Wanted) New salary = 1,12X.
500=0,02X.
X=25,000.
1,12*25,000=28,000.
Answer is D.
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Re: A baseball player signs a new contract that includes a guaranteed 10 p [#permalink]

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New post 18 Sep 2017, 09:26
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Re: A baseball player signs a new contract that includes a guaranteed 10 p   [#permalink] 18 Sep 2017, 09:26
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