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

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Math Expert
Joined: 02 Sep 2009
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A certain boxer has agreed to pay his opponent a fee of 2.5% of his to  [#permalink]

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04 Feb 2015, 07:48
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35% (medium)

Question Stats:

69% (02:22) correct 31% (01:55) wrong based on 81 sessions

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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

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

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04 Feb 2015, 09:00
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
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Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to  [#permalink]

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04 Feb 2015, 10:10
1
(0,025 * x) * 7 = 26250

25/1000x = 3750

x = 3750 * 1000/25

x = 150 000

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

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04 Feb 2015, 19:38
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 Manager Joined: 27 Oct 2013 Posts: 212 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 05 Feb 2015, 00:57 1 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 SVP Status: The Best Or Nothing Joined: 27 Dec 2012 Posts: 1825 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 05 Feb 2015, 19:35 1 Answer = C.$150,000

Let the total purse = x

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

x = 150000
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Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to  [#permalink]

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05 Feb 2015, 23:00
1
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: 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
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Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to  [#permalink]

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09 Feb 2015, 04:15
1
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.
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Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to  [#permalink]

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21 Oct 2017, 12:39

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
Re: A certain boxer has agreed to pay his opponent a fee of 2.5% of his to &nbs [#permalink] 21 Oct 2017, 12:39
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