It is currently 11 Dec 2017, 12:15

Close

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
Your Progress

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

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A certain boxer has agreed to pay his opponent a fee of 2.5% of his to

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42544

Kudos [?]: 135256 [0], given: 12679

A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 04 Feb 2015, 08:48
Expert's post
1
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

67% (01:34) correct 33% (01:12) wrong based on 69 sessions

HideShow timer Statistics

A certain boxer has agreed to pay his opponent a fee of 2.5% of his total purse for every pound over the specified weight limit he weighs in. If the boxer pays his opponent a fee of $26,250 after weighing in seven pounds over the specified limit, what was the boxer's purse?

A. $65,625
B. $105,000
C. $150,000
D. $183,750
E. $1,050,000


Kudos for a correct solution.
[Reveal] Spoiler: OA

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 135256 [0], given: 12679

Expert Post
Math Expert
User avatar
D
Joined: 02 Aug 2009
Posts: 5336

Kudos [?]: 6088 [0], given: 121

Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 04 Feb 2015, 10:00
Bunuel wrote:
A certain boxer has agreed to pay his opponent a fee of 2.5% of his total purse for every pound over the specified weight limit he weighs in. If the boxer pays his opponent a fee of $26,250 after weighing in seven pounds over the specified limit, what was the boxer's purse?

A. $65,625
B. $105,000
C. $150,000
D. $183,750
E. $1,050,000


Kudos for a correct solution.

ans C..
7 extra pounds means the boxer has paid 7*2.5%=17.5%..
this should be equal to 26250.. so total =26250*100/17.5 = 150000
_________________

Absolute modulus :http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372
Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html

Kudos [?]: 6088 [0], given: 121

1 KUDOS received
Manager
Manager
User avatar
Joined: 18 Aug 2014
Posts: 129

Kudos [?]: 79 [1], given: 36

Location: Hong Kong
Schools: Mannheim
Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 04 Feb 2015, 11:10
1
This post received
KUDOS
(0,025 * x) * 7 = 26250

25/1000x = 3750

x = 3750 * 1000/25

x = 150 000

Answer C

Kudos [?]: 79 [1], given: 36

Senior Manager
Senior Manager
User avatar
Joined: 28 Feb 2014
Posts: 295

Kudos [?]: 144 [0], given: 133

Location: United States
Concentration: Strategy, General Management
Reviews Badge
Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 04 Feb 2015, 20:38
Bunuel wrote:
A certain boxer has agreed to pay his opponent a fee of 2.5% of his total purse for every pound over the specified weight limit he weighs in. If the boxer pays his opponent a fee of $26,250 after weighing in seven pounds over the specified limit, what was the boxer's purse?

A. $65,625
B. $105,000
C. $150,000
D. $183,750
E. $1,050,000


Kudos for a correct solution.


.025*7 = .175

26250/.175 = $150,000

Answer: C

Kudos [?]: 144 [0], given: 133

1 KUDOS received
Senior Manager
Senior Manager
avatar
Joined: 27 Oct 2013
Posts: 252

Kudos [?]: 131 [1], given: 79

Location: India
Concentration: General Management, Technology
GMAT Date: 03-02-2015
GPA: 3.88
Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 05 Feb 2015, 01:57
1
This post received
KUDOS
Here we go:

2.5% of his total purse for every pound over the specified weight limit

His opponent weighs seven pounds over the specified limit


7 * x * (2.5/100) = 26250

solve for x.

x = 150,000

Option C is correct

Kudos [?]: 131 [1], given: 79

1 KUDOS received
SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1849

Kudos [?]: 2782 [1], given: 193

Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 05 Feb 2015, 20:35
1
This post received
KUDOS
Answer = C. $150,000

Let the total purse = x

Fees paid for 7 pounds \(= \frac{2.5x}{100} * 7 = 26250\)

x = 150000
_________________

Kindly press "+1 Kudos" to appreciate :)

Kudos [?]: 2782 [1], given: 193

Expert Post
1 KUDOS received
EMPOWERgmat Instructor
User avatar
P
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 10351

Kudos [?]: 3669 [1], given: 173

Location: United States (CA)
GMAT 1: 800 Q51 V49
GRE 1: 340 Q170 V170
Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 06 Feb 2015, 00:00
1
This post received
KUDOS
Expert's post
Hi All,

This question is perfect for TESTing THE ANSWERS.

From the given information, we know that for every 1 pound over the specified weight limit, a boxer will pay a 2.5% fee (of the total purse) to his opponent. We're told that the boxer weighs in 7 pounds overweight, so the fee is (2.5%)(7) = 17.5% of the total purse. Next, we're told that the fee is $26,250. We're asked for the TOTAL PURSE.

Since the answers are numbers, one of them MUST be the total purse.

For 17.5% to equal $26,250, the total purse MUST be well above $100,000 (since 17.5% of 100,000 is 17,500). Considering how "spread out" the answer choices are, I'd start by TESTing Answer C....

IF...
The total purse was $150,000, then....
10% = $15,000
7.5% = $11,250
17.5% = $26,250

This is a MATCH for what we were told, so this MUST be the answer.

Final Answer:
[Reveal] Spoiler:
C


GMAT assassins aren't born, they're made,
Rich
_________________

760+: Learn What GMAT Assassins Do to Score at the Highest Levels
Contact Rich at: Rich.C@empowergmat.com

Rich Cohen

Co-Founder & GMAT Assassin

Special Offer: Save $75 + GMAT Club Tests Free
  Official GMAT Exam Packs + 70 Pt. Improvement Guarantee
www.empowergmat.com/

***********************Select EMPOWERgmat Courses now include ALL 6 Official GMAC CATs!***********************

Kudos [?]: 3669 [1], given: 173

Expert Post
1 KUDOS received
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42544

Kudos [?]: 135256 [1], given: 12679

Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 09 Feb 2015, 05:15
1
This post received
KUDOS
Expert's post
Bunuel wrote:
A certain boxer has agreed to pay his opponent a fee of 2.5% of his total purse for every pound over the specified weight limit he weighs in. If the boxer pays his opponent a fee of $26,250 after weighing in seven pounds over the specified limit, what was the boxer's purse?

A. $65,625
B. $105,000
C. $150,000
D. $183,750
E. $1,050,000


Kudos for a correct solution.


VERITAS PREP OFFICIAL SOLUTION:

Solution: C.

Start by figuring out the fee as a percentage. If the fee is 2.5% per pound, then a fee for seven pounds is 2.5% times 7, or 17.5% of the purse. If the fee is also equal to $26,250, then we can set up an equation: 17.5% of the purse = $26,250, or .175x = $26,250.

At this point approximation is probably best. If we multiply both sides by 6, we'd have approximately x on one side and approximately $150,000 on the other side, so the correct answer is C.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 135256 [1], given: 12679

Intern
Intern
avatar
B
Joined: 25 Aug 2017
Posts: 34

Kudos [?]: 7 [0], given: 56

Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to [#permalink]

Show Tags

New post 21 Oct 2017, 13:39
Answer is C.

I started with the following equation:

26,250 = 7 * 2.5% * x

Then divided by 7

3,750 = 2.5% * x

Then doubled each side

7,500 = 5.0% * x

Then multiplied each side by 20

150,000 = x

Kudos [?]: 7 [0], given: 56

Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to   [#permalink] 21 Oct 2017, 13:39
Display posts from previous: Sort by

A certain boxer has agreed to pay his opponent a fee of 2.5% of his to

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.