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

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

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New post 04 Nov 2019, 04:05
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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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Re: A baseball player signs a new contract that includes a guaranteed 10  [#permalink]

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New post 04 Nov 2019, 04:14
Bunuel 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


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let old salary = x
so
given
1.1x+500=1.2x
x= 25000
so new salary ; 27500+500 ; 28000
IMO D
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Re: A baseball player signs a new contract that includes a guaranteed 10  [#permalink]

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New post 04 Nov 2019, 10:33
Bunuel 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


Are You Up For the Challenge: 700 Level Questions


Let the old salary = x
New salary with full bonus = 1.1x + 500

Given, his new salary including bonus will be equivalent to a 12 percent increase over his old salary.
—> 1.1x + 500 = 1.12x
—> 0.02x = 500
—> x = 500/0.02 = 50000/2 = 25000

New salary including bonus = 1.1*25000 + 500 = 27500 + 500 = 28000

IMO Option D

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Re: A baseball player signs a new contract that includes a guaranteed 10   [#permalink] 04 Nov 2019, 10:33
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